Flare Token Distribution Begins

The distribution of Flare tokens, which has been expected for two years, begins on Tuesday. According to the balance records received on December 12, 2020, 0.15 FLR token will be distributed for every 1 XRP held in the accounts. Users who meet the appropriate conditions will be able to get FLR. Many of the leading cryptocurrency exchanges support the airdrop. On the relevant date, users who hold XRP in their accounts on supporting exchanges will have FLR at the rate specified above. Those who hold XRPs in their own wallets will also be able to benefit from the airdrop.

The airdrop, which will take place on Tuesday, will continue. The next stages of deployments will be determined by the community by voting on the Flare Improvement Proposal 01. If the proposal is accepted by the community, the remaining 85% of the token distribution (0.8562 FLR tokens per 1 XRP) will be distributed on-chain. Voting will be held after the first 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 exchanges agree 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.