1 year ago
After a 2-year wait, the layer-1 Flare blockchain has yet followed done and sent its tokens to those who held XRP astatine the clip of the snapshot.
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The Flare (FLR) token airdrop started connected Mon., Jan. 9, astir 2 years aft a snapshot of Ripple (XRP) holders took spot connected Dec. 12, 2020. The FLR airdrop was distributed astatine a ratio of 1.0073 FLR per 1 XRP and the archetypal organisation saw 15% of the full proviso released to the community.
A full of 28.5 cardinal FLR were distributed based connected this methodology and according to Flare’s tokenomics, 58.3% of the full genesis FLR proviso volition beryllium distributed implicit 36 months.
Flare archetypal token organisation allocation. Source: FlareWhat is Flare?
Flare is simply a Layer-1 blockchain with an oracle system aiming to boost interoperability amongst decentralized applications (DApps) and blockchains. While the token lone precocious launched, the protocol launched its mainnet connected July 11, 2022. To date, the Flare mainnet has already processed implicit 70 cardinal transactions with implicit 500,000 unsocial wallets.
Flare web artifact explorers. Source: FlareFLR follows the way of astir airdrops
According to information from CoinGecko, FLR token seemingly started trading connected Jan. 9, astatine $0.05 amidst debased liquidity connected MeXC exchange. After the launch, the token soared to $0.15 arsenic exchanges similar Binance, OKX and Kraken started trading the airdropped token.
Shortly aft the accrued liquidity arrived from much centralized exchanges (CEX) FLR token terms began to crash. At the clip of writing, FLR terms has pulled backmost by 76% to $0.02 and its 24-hour trading measurement sits somewhat beneath $50 million.
While the airdrop provided long-awaited FLR tokens astatine nary outgo to XRP holders, the result of contiguous selling is regular for astir airdrops. Proof of existent occurrence volition beryllium whether the web sees a sustained uptick successful the usage of its layer-1 and interoperable oracle usage case.
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