After long-standing requests from the XRP community, Coinbase finally flare (FLR) token. The recent development has caused further agitation for the exchange to relist XRP, given the Altcoin’s close relationship with the XRP ecosystem.
coinbaseannounced that it will begin distributing the Flare airdrop to previous XRP holders on its platform, as promised last December.
Coinbase only uses the token Flare Network announced that it will support According to the tweet, the American exchange has already made deposits on its platform for FLR in regions where trading for the asset is supported. activated.
Coinbase will add support for Flare (FLR) on the Flare network. Do not send this asset over other networks or your funds may be lost. Inbound transfers for this asset are available on @Coinbase and @CoinbaseExch in the regions where trading is supported.
NEWS CONTINUES BELOW— Coinbase Assets (@CoinbaseAssets) April 11, 2023
It was underlined that users make deposits to their wallets through the Flare Network. Using any other network will result in loss of funds. As part of the announcement, Coinbase also announced that it will begin rolling out the FLR airdrop today.
Stock market in December 2022 XRP It promised to support the FLR airdrop for its owners, but failed to do so because it did not list the FLR in January when wider distribution began. The airdrop will be distributed to wallets holding XRP tokens during the snapshot on December 12, 2020. Coinbase had not suspended support for XRP at that time.
In addition to running the airdrop throughout the day, withdrawals are also expected to be temporarily suspended. Once the exchange confirms sufficient liquidity, trading will officially begin. The listing will be announced in FLR/USD parity.
It is important to note that the Flare project initially started on the XRP Ledger but gradually transitioned to the layer-1 blockchain, the Flare Network. Given the close relationship between FLR and XRP, supporters have increased speculation that XRP will be relisted on Coinbase.
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Source : The Crypto Basic