Binance Will Distribute Flare in Early 2023

Binance exchange will distribute 0.15 FLR tokens for every 1 XRP they hold to users whose screenshots are taken on December 12, 2020. According to Flare’s statement, users who meet the appropriate conditions will be able to receive their tokens as of January 9, 2023. The terms for the next phases of the distributions will be determined by the community through the Flare Development Proposal 01 vote. If the offer is accepted by the community, the remaining 85% of the token distribution (0.8562 FLR tokens per 1 XRP) will be distributed on-chain, not as an airdrop.

The FLR token distribution program will be completed in 36 months, with a total of 1,0073 FLR tokens per 1 XRP. Another announcement will be made by Flare if the Binance exchange agrees to support subsequent airdrops.

Those who will benefit from the Flare Token distribution will be able to convert their tokens and delegate the Flare Time Series to Oracle. These users will thus be able to start earning inflationary rewards for supporting decentralized data work for the network. If the community says “yes” to FIP.01, buyers will be able to obtain the maximum number of FLR tokens available to them.

According to the statement from Flare, this is not a new airdrop. An airdrop that Binance has previously confirmed. The only difference is that the token name is no longer Spark, but Flare. In addition, the distribution day was determined as January 9, 2023.

The existing conditions for qualifying token distribution have not changed. The XRP screenshots for this right were taken on December 12, 2020.