Cryptocurrency

Flare Community Begins FLR Token Airdrop

Flare – a layer 1 oracle community – has initiated its FLR token airdrop throughout a number of main exchanges together with Binance, OKX, Kraken, Bithumb, UpBit, Kucoin, and BitBank, amongst others. 

With 4.279 billion FLR tokens distributed to hundreds of thousands of customers, the airdrop marks some of the large-scale token distributions in crypto historical past. 

  • In accordance with a press launch, Flare’s preliminary airdrop represents 15% of the FLR’s complete token distribution. It passed off at 23:59 UTC on January 9.
  • The remaining 85% of tokens will likely be distributed over the following 36 months in accordance with the neighborhood vote on Flare Enchancment Proposal 01.
  • If handed, the proposal would place a tough cap on FLR’s annual inflation at 5 billion tokens every year. 
  • The Flare community is designed to permit builders to construct apps which are interoperable with the web and different blockchains. 
  • The community leverages its State Connector to let good contracts securely work together with info sourced from different blockchains. 
  • In the meantime, the Flare Time Collection Oracle gives costs and knowledge collection to dapps with out counting on centralized knowledge suppliers. Flare describes it as a “extremely decentralized knowledge feed oracle” that sources knowledge from almost 100 impartial knowledge suppliers. 
  •  “For the blockchain trade to flourish, we want extra helpful decentralized purposes,” mentioned Hugo Philion, CEO & Co-founder of Flare. “Flare is tackling this via knowledge, not simply costs however transaction particulars, Web2 occasions and so on, in order that builders can construct purposes that present extra utility to a bigger group of customers.”
  • Hugo added that Flare may usher in new use circumstances resembling triggering a wise contract via a transaction on one other blockchain or permitting non-smart contract tokens to be bridged to Flare. 
  • Flare launched in July of final yr for builders and builders to work together with, whereas introducing a developer adoption program the next month. 
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