*** Disclaimer: This article is not financial advice. Anyone taking action on the below information is responsible for their own personal situation. This is just meant to be an aggregation of information to help individuals make the best decision for themselves in regards to the Flare Network Spark Airdrop for XRP holders on participating wallets and exchanges on 12/12/20 00:00:00 UTC. Please follow this article up with your own research.
The Bifrost Wallet is a new multichain wallet to be used in decentralized finance across different networks like Flare Network and Ethereum. Bifrost is created by the Towo Labs team, which runs an XRPL validator in the mountains of Stockholm, Sweden. Towo Labs has partnered with the Flare Network to ensure user access to the Flare Network applications on the launch of the Flare mainnet. The Bifrost Wallet will provide access to all token addresses on the Flare Network like Spark, F-Assets, and any other dApp tokens (i.e. Flare Finance, Trustline, Gala Games). Additionally, since Bifrost is a multichain wallet, it will provide additional support for other blockchain tokens like XRP, Dogecoin, Ethereum, and more. On top of being an all-in-one solution for holding your Flare Network related assets, Bifrost will also allow users to delegate detachable Spark votes to the Flare Time Series Oracle and mint f-assets from their application. Finally, end users will be able to connect their Bifrost Wallet to layer two dApps on the Flare Network like Trustline and Flare Finance to participate in their DeFi products. Bifrost will be available by launch and is undergoing a security audit.
Options for XRP holders claiming the Flare Network Spark airdrop via a self-custody wallet
It will be important to confirm that your specific hardware wallet provider is supporting the Spark airdrop, which can be found here. Flare Network makes a very clear distinction between wallets that will support the claim process vs wallets that will support the claim process and Spark token. In the case that your wallet provider is supporting the claim and Spark token, you will be able to access your Spark at launch through your wallet providers user interface. If your wallet provider is only supporting the Spark claim like Nano Ledger, then you have some decisions to make on how exactly you would like to access your Spark airdrop when the Flare mainnet is live.
Users can set the message key for the Spark claim to an Ethereum-compatible address within the same wallet as their XRP was for the snapshot. However, if the wallet provider does not support the Spark token at launch, then you will have to find a third party to connect to the Flare Network through like MetaMask, which provides a plugin for Ledger Nano users. Additionally, users could set their message key to an address in an empty Metamask or MyEtherWallet (MEW) account that is Ethereum-compatible. This would allow the user to import this address via the recovery seed phrase into the Bifrost wallet when it launches. Users choosing to set the message key to an Ethereum-compatible address within the same wallet provider as their XRP address can also choose to import their wallet with the recovery seed phrase to Bifrost at launch. However, this would import all of their token addresses from their current wallet to Bifrost and may not be preferable for many people. These are all just options and if you already have your Ledger Nano setup for the Spark claim, you do not need to change anything as you will be able to plugin to the Metamask browser extension to access your Spark tokens.
Per Towo Labs, Bifrost imports are only compatible with 12 or 24-word recovery seed phrases. Additionally, the Bifrost Wallet will be available on or before the date that Flare Network launches, so it is a valid option for users looking to participate in the Flare Network on Day 1 and will be undergoing an independent security audit. As a note on the Ethereum-compatible message key, this address serves as the pointer for where the Spark airdrop will be delivered and cannot be changed after 6/11/21, which is the final claim date for the Spark airdrop. If users held their XRP on a participating exchange during the snapshot date, then their exchange should reach out with details on if they will support the Spark token or require users to set an Ethereum-compatible address for the Spark airdrop to be delivered through.
Spark Claim Resources
If you have not already done your Spark claim and had XRP in a participating wallet on 12/12/2020 00:00:00 UTC, then you have until 6/11/21 to claim your Spark airdrop. It is important to note that you will not receive the Spark airdrop on this date. The first 15% of the Spark airdrop claim will be delivered on Day 1 of Flare Network launch and then each month following a pseudorandom number generated by the FTSO between 2% and 4% will be delivered until all Spark allocated to the user has been disbursed around two to three years later. In order to claim your Spark airdrop, please visit the two websites below to set an Ethereum-compatible message key for your XRP accounts.
Additionally, to double check that the claim process went smoothly, then input all associated XRP addresses into https://xrpscan.com/, which will display the Spark claim amount and message key. Thanks to @CynArts for help with the flowchart!