Flare Networks’ highly anticipated token airdrop has taken place. After a two year wait XRP holders from 2021 received their FLR tokens. The airdrop saw 4.279B Flare (FLR) tokens distributed to millions of recipients. Flare is a Layer 1 blockchain designed to allow developers to build interoperable applications. Their key slogan to ‘connect everything’ sums up the scale of the team’s vision.
The initial airdrop of FLR amounts to 15% of the project’s total supply. The remaining 85% will be distributed over the next three years and revolve around the new Flare governance model with a community vote within the Flare network community.
Successfully Partnering with leading exchanges
As the first and perhaps the biggest event in crypto this year, Flare has partnered with all leading exchanges to airdrop its token to XRP holders around the world. The Layer-1 has been positioned as the blockchain that can securely determine the state of other blockchains, allowing for information from other chains to be trustlessly. With over 72k viewers of the distribution event and 444k views of the events Twitter post it is clear that there is wide support for an interoperable future of blockchains.
Major exchanges such as Binance, OKX, Kraken, KuCoin and many others agreed to support the distribution to eligible XRP customers as promised. This is a major milestone in the communication and collaboration of exchanges for a significant blockchain event and will demonstrate a wider commitment to the public who believe in the future of decentralised finance.
We would like to thank all of the exchange teams for their support and collaboration.
To see the full list, head over to https://t.co/1ApsudG45q. We’ll provide updates as more news comes in.
— Flare ☀️ (@FlareNetworks) December 9, 2022
“FOR THE BLOCKCHAIN INDUSTRY TO FLOURISH, WE NEED MORE USEFUL DECENTRALIZED APPLICATIONS. FLARE IS TACKLING THIS THROUGH DATA, NOT JUST PRICES BUT TRANSACTION DETAILS, WEB2 EVENTS ETC, SO THAT DEVELOPERS CAN BUILD APPLICATIONS THAT PROVIDE MORE UTILITY TO A LARGER GROUP OF USERS,” SAID HUGO PHILION, CEO & CO-FOUNDER OF FLARE.
Yes, Kraken will endeavor to support the Flare (FLR) token airdrop as announced on December 11, 2020.
For more information regarding this, please visit: https://t.co/8WEKTt9hI5
Kraken Support 🐙
— Kraken Support (@krakensupport) January 5, 2023
The Flare community, as well as leading voices in the blockchain space have expressed their excitement about the event and are already delegating their tokens to participate in future voting.
— Brads_Lads (@Brads_Lads) January 10, 2023
Enabling Interoperability with secure, fast and trustless sharing of data
The Blockchain industry will also be closely following Flare as it rolls out its unique consensus mechanism and the Flare State Connector. In a recent ‘Thinking Crypto’ podcast Flare Network Co-Founder Hugo Philion notes the misallocation of funding to date and the need to consider wider applications of the technology to imagine the next billion users. To date, the focus has been mostly centred around DeFi products. “This has prevented capital allocation to people who want to use blockchains for something non-financial,” expressed Philion.
Other industries may have been missing out on the benefits of the technology. Using a secure, interoperable network Flare aims to enable the development of various decentralised applications for broad public advantage.