Bill Morgan, known for his closeness to XRP, in a screenshot he published Flare Token (FLR) price dropped 64%. This drop scared investors as news of the airdrop event for FLR circulated.
It has not been a great day for holders of the Flare token IOU on Bitrue exchange. pic.twitter.com/paQBVXaVOw
NEWS CONTINUES BELOW— bill morgan (@Belisarius2020) January 9, 2023
Bitrue was the first exchange to enable trading of IOUs pegged to FLR. “Real” FLR tokens will be distributed shortly.
As seen on the TradingView chart, the FLR/USDT pair on Bitrue has seen a massive drop over the past two days. The token dropped as low as $0.15 on January 9 before surging to the $0.30 it is currently trading. At the time of writing, it fell significantly from its January 8 high of $0.53.
Flare Token Distribution Almost Near
Koinfinans.com As we reported, according to the statement made on Flare’s official Twitter account, only hours are left for the FLR token distribution event. According to official documents, the public distribution of Flare will take place in two parts. The first 15% will be distributed to wallets holding XRP on December 12, 2020, during the token distribution event.
The FLR Token Distribution event is just 24 hours away.
Join the #flare team and guests on Twitter tomorrow. The distribution starts at 23:59 UTC sharp. The stream will start a few minutes before.#ConnectEverything pic.twitter.com/CLtmUird1Z
— Flare ☀️ (@FlareNetworks) January 8, 2023
This distribution will precede the FIP.01 governance vote, and at this token distribution event, exchanges and self-custodial wallets will receive 0.1511 FLR for every 1,0000 XRP held.
Once 66% of the initial public token distribution is available to token holders, a management vote will also begin for Flare Improvement Proposal 01 (FIP.01).
This vote will include critical changes to payout structure and recipients, as well as adjustments to local token FLR distribution and inflation.