Flare, a blockchain project to create applications that use data from other chains and the internet, successfully completed the long-awaited token airdrop on January 10, 02:59 Turkish time.
The airdrop became one of the largest-scale distributions in crypto history. 4,279 billion Flare (FLR) tokens have been distributed to millions of buyers, including Binance, OKX, Kraken, Bithumb, UpBit, Kucoin, BitBank and more.
The airdrop is a major milestone for Flare as developers can now begin to leverage Flare’s EVM and native data collection protocols State Connector and Flare Time Series Oracle. These network-secured native protocols provide decentralized access to high-integrity data from other blockchains and the internet, enabling the creation of new use cases and monetization models.
Hugo Philion, Flare CEO and Co-Founder said:
“We need more useful decentralized applications for the blockchain industry to thrive. Flare was developed so that developers can create applications that bring more benefits to a larger group of users; not just prices, but transaction details, Web2 events, etc.
Hugo continues, “The goal of Flare is to enable developers to build applications that securely access more data. This can enable new use cases to be created, such as triggering a Flare smart contract action with a payment on another chain or input from an internet/web2 API. It also facilitates a new bridging method, specifically for bringing non-smart contract tokens to Flare for use in applications such as DeFi protocols.”
Flare’s State Connector protocols enable secure, scalable and reliable use of information with smart contracts on Flare. This offers the strongest data class in the network and enables more cross-chain solutions to be built.
The State Connector derives its security from combining a decentralized set of validators with a binary forking protocol, allowing data providers to challenge the malicious majority. Unlike a proof-of-stake based system where data providers are responsible for staking the value, the State Connector’s security is not limited to the amount staked in the system. This means that the State Connector is immutable in security with respect to the size of a transaction; this offers a secure system that can handle large amounts of value.
Flare Time Series Oracle (FTSO) uses network architecture to provide highly decentralized rates and data series to dapps on Flare without relying on centralized data providers. FTSO is a highly decentralized data feed platform with around 100 independent data providers encouraged to provide reliable data every 3 minutes.
The Flare token distribution represents the first 15% of the full overall token distribution, with the remainder being distributed monthly for 36 months. The allocation method of the remaining 85% of the token supply depends on the outcome of a community vote on Flare Improvement Proposal 01 (FIP.01).
About Flare
Flare is a Tier 1 network that allows developers to build applications that can interoperate with blockchains and the internet. By providing decentralized access to high integrity data, Flare enables new use cases and monetization models.
Flare’s State Connector protocols enable secure, scalable and reliable use of information from both other blockchains and the internet with smart contracts on Flare.
Flare Time Series Oracle offers highly decentralized pricing and data flows to data applications on Flare without relying on centralized providers.
Build on Flare with more data than ever before, or build with Flare to serve multiple ecosystems.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!