expected for two years Flare Token (FLR) deployment is finally complete. While users have been waiting for this airdrop for two years, the price of FLR has lost 60% in a short time.
XRP Ledger Using this infrastructure, Flare Token aims to become a smart contract platform. The airdrop of the project, to which the XRP community contributed, has not been talked about for two years. The wait was finally over yesterday and the distributions started at full speed.
Flare Token Distribution Event https://t.co/3GkF2dbGBY
— Flare ☀️ (@FlareNetworks) January 9, 2023
NEWS CONTINUES BELOW
Around 4.28 billion with Airdrop FLR Token distributed. The distribution was given to investors holding at least 1 XRP in December 2020. The airdrop was carried out at a ratio of 1:1. Distribution completed as 1 XRP = 1 FLR.
Tokens distributed by airdrop constitute 15% of the total supply of the project. The remaining tokens will be distributed over the next three years.
In addition to proposing other changes to the project, FLR holders will be able to vote on the way the future airdrop is distributed on Flare’s governance forums.
As we reported as Koinfinans.com, users who bought their tokens sold almost instantly. Traded at $0.15 per token, Flare fell to $0.02 in a short time. The trading volume was around $25 million. Altcoins It was listed by many different exchanges in a short time.
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Initially aiming to be a decentralized finance (DeFi) application using XRP tokens, Flare has gradually transitioned to a layer 1 blockchain and oracle provider. Tier 1 refers to underlying blockchains such as Ethereum or Solana, while oracles offer third-party services that bring data from outside of a blockchain into it.
Josh Edwards of the Flare team said in a tweet Monday that while the token is new, the Flare network is already operational and has processed more than 268 million requests for data and transactions over the past week.