New Development in Airdrop Waiting for Ripple (XRP) Users!

Kraken exchange, Ripple (XRP) for owners airdrop Approaching the release date Flare token Enabled funding and staking for

United States-based cryptocurrency exchange Kraken recently announced its launch on its platform as the community airdrop approaches its deadline. Flare (FLR) announced that it has enabled token funding.

The News That Ripple (XRP) Fans Have Been Waiting For Has Arrived

According to Kraken, after the distribution, customers will also be able to stake and trade their FLR tokens.

Kraken announced the development via its Twitter account and an official statement to keep the community informed of its progress in support of FLR.

Update on the $FLR @FlareNetworks distribution!

✅ Funding is now enabled

Here’s what to expect next:
🗓 Airdrop distribution to take place soon
ℹ️ Staking and Trading will be available

More details 👉 https://t.co/dKTKPr35jd pic.twitter.com/ISc7bNrbdM

— Kraken Exchange (@krakenfx) November 24, 2022

The cryptocurrency community was excited about this news, with XRP holders especially awaiting the airdrop distribution of the token. Moreover, according to the official statement, the platform has already secured funding for the FLR token.

Kraken also stated that customers will have the opportunity to exchange the FLR token for dollars (USD) and euros (EUR), as well as stake the token on its platform.

Kraken also promised to keep users informed of any progress in its support for the token and distribution event.

Speaking on the development, Hugo Philion, co-founder and CEO of Flare Networks, thanked the Kraken team for their support of the FLR token. Philion noted that Kraken enabling staking was a “big” move by the exchange.

The Flare Networks team also explained the tokenomics of the asset. According to the statement, the total asset supply in the distribution event is 100 billion.

Of this total, the network plans to allocate 58.3 billion to the community and 19.2 billion to the team, advisors and supporters. In addition, organizations responsible for facilitating project investment and the ecosystem will also receive 22.5 billion.

*Not investment advice.