• Flare Network has begun airdropping coins as of Jan. 9, 2021, distributing a part of its 4.279b FLR to XRP holders.
• The airdrop represents 15 percent of the total supply and will be distributed to holders of XRP in leading exchanges, including Binance, OKX, and Kraken.
• Flare Network’s core features and data acquisition protocols provide the assurance of data quality, scalability, and interoperability for developers to build secure solutions for a large group of users.
Flare Network has begun its airdrop of coins on Jan. 9, 2021, with the goal of distribution 4.279b of its native coin, FLR. This represents 15 percent of the total supply and will be dispersed to millions of holders of XRP, the third-largest cryptocurrency, in leading exchanges including Binance, OKX, and Kraken. This airdrop was based on a snapshot of XRP holders taken on Dec. 12, 2020, and the rate of 1 XRP to 1.1511 FLR. The remaining coins will be distributed each month over the next three years.
Flare Network is a layer-1, Ethereum Virtual Machine (EVM)-based interoperable blockchain using a proof-of-stake consensus algorithm. It is designed to ensure that developers have access to secure solutions that can provide utility to a large group of users. The blockchain has native data acquisition protocols that are secured by the decentralized base layer. These protocols allow for leveraging Flare’s interoperability while also taking advantage of the platform’s core features. These features offer assurance of data quality, scalability, and interoperability for developers to build projects with confidence.
Hugo Philion, the CEO and Co-founder of Flare Network, commented following the airdrop saying “Flare’s objective is to empower developers to create innovative solutions powered by XRP and FLR without having to worry about scalability, interoperability or data availability issues.” He continued by saying “We believe this airdrop will open up a new set of use cases for the FLR token and help in the development of a strong and active community.”
The airdrop of FLR is an exciting event for Flare Network and its community. With the distribution of these coins, developers will now have access to the platform’s features and data acquisition protocols which will allow for the development of innovative solutions that can provide utility to a large group of users. The assurance of data quality, scalability, and interoperability will allow developers to build projects with confidence and will likely help in the development of a strong and active community.