The Flare project will airdrop its Flare (FLR) token to eligible XRP holders after nearly two years. The project aims to bring smart contract features to Ripple.
After a nearly two-year-long wait, the Flare project is finally airdropping its Flare (FLR) token (formally known as Spark) to XRP holders. The project released a new distribution schedule recently, saying that the token distribution would take place between Oct. 24 and Nov. 6, depending on discussions with exchanges.
Flare had planned to airdrop the token in the first half of 2021, as stated in its announcement in late 2020. The snapshot of the network itself is from that period, and there are a total of 100 billion FLR tokens.
All those eligible for the airdrop will receive 15% of the claimable Flare Tokens which have been allocated to them. Following this, the remainder will be handed out over a minimum time frame of 25 months and a maximum of 34 months. That averages to 3% per month.
All those who have held XRP in exchanges that have participated will be eligible for the airdrop. Among the platforms that support the airdrop is Crypto.com. Excluded accounts include Ripple co-founder Jed McCaleb and accounts known to have received XRP as a result of fraud, theft, and scams.
🚨 FLR Token Airdrop 🚨
✅ https://t.co/vCNztABJoG is supporting the Flare (FLR) airdrop for XRP holders from supported jurisdictions
The distribution follows this schedule because the team believes that it will help achieve a successful network launch and “provide strong incentives for network participation that builds utility.” It also says that it provides much larger rewards for participants that bring value and utility to the network.
Flare Token dormancy
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The Flare project is bringing smart contract capabilities like that of Ethereum to other networks, starting with Ripple. It also plans to bring the feature to Litecoin (LTC).
The Flare project essentially wants to bring DeFi capabilities to the network. In addition, the Flare Token will also provide functionality related to protocol governance, collateralization, and providing data via an on-chain oracle.
The likely reason for the project’s delay is the legal battle between Ripple and the SEC. This has been going on for years and is set to conclude soon — with the lawsuit likely to go in favor of Ripple. There are signs of a positive movement for the XRP price. Whales have bought around 300 million XRP in the last few months.
The XRP token has had a fairly good year, with both the end of the lawsuit and technical developments indicating a good future. Ripple NFTs are set to go live in roughly two weeks, and several collections are preparing for launch.
Ripple also wants to make XRP compatible with the Ethereum network. It plans to do this with Ripple Labs and Peersyst launching an XRP Ledger Ethereum Virtual Machine (EVM)-compatible sidechain on the XRPL Devnet. This would allow Solidity developers to test their apps on users on the devnet.
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A crypto airdrop is a way of distributing new coins or tokens to existing cryptocurrency holders or users who perform certain tasks. It is a marketing strategy used by blockchain startups to raise awareness and adoption of their projects.
15% of total supply to XRP holders before correcting by 76% The Flare (FLR) token airdrop started on Mon., Jan. 9, nearly two years after a snapshot of Ripple (XRP) holders took place on Dec.
The initial 15% were distributed on January 10, 2023. The remaining 85% are being distributed in a series of 36 monthly FlareDrops happening between March 17, 2023 and January 30, 2026 according to the FlareDrop guide: The dates above are the dates when Flare will be distributing the FLR in the network.
After a nearly two-year wait, Flare's FLR tokens were finally distributed to XRP holders starting Monday night in an event that generated an massive amount of chatter among community members. The tokens were dumped almost immediately by recipients.
Claiming the FlareDrop is available every 30 days and is based on the average balance from the last 23 days of each 30-day month. Therefore, it is advised that each address claim its funds during the first 7 days of each 30-day round.
1 XRP equals 28.12 FLR. The current value of 1 XRP is -0.48% against the exchange rate to FLR in the last 24 hours. Create a free Kraken account to instantly convert XRP to FLR or trade XRP/FLR markets today.
Notwithstanding the bearish indicators, our predictive models offer a more optimistic outlook for FLR's future. These models forecast a trajectory of continued growth for the token, with an envisaged average trading price of $1 in 2029.
If the project were to reform significantly to drive value to the XRP token, there is every chance that XRP could soar to new highs. However, like any investment, there are risks that every investor should consider before making a decision to invest.
Daily XRP (XRP) Price Prediction For Today, Tomorrow, this Week, and Next 30 Days. Based on your price prediction input for XRP, the value of XRP is projected to increase by 5%, potentially reaching $ 0.560327 in the next 30 days.
The Flare token airdrop finally happened after a two-year wait, with billions of tokens distributed to millions of recipients on Monday. Originally scheduled for distribution in 2020, the airdrop occurred at 6:59 p.m. EST on Monday.
Flare (FLR) Price Prediction 2024-2030: Will FLR Price Hit $0.1 Soon? FLR's price could reach $0.055 before the end of 2024. The price of the token might rise to $0.075 in 2026 as demand might be explosive. By 2030, the Flare native cryptocurrency could reach $0.1 with increased market cap.
You are eligible to receive FLR tokens if:You held XRP in your XRP wallet during the December 12, 2020 snapshot.You claimed your FLR by submitting an ETH address before June 11, 2021.
The airdrop will be distributed proportionally to the amount and the length of time you were staking FLR. The distribution calculation will reset every 30 days after each airdrop, ensuring that clients will only receive the airdrop for the 30 day period in which they had staked FLR.
The FlareDrop, previously called the Delegation Incentive Pool in the FIP. 01, is a distribution method for the 24.25B remaining $FLR tokens after the original airdrop. It will last for 36 months and is destined for any holder of wrapped $FLR ( $WFLR ) that participates in the network as per the FIP. 01.
According to the conditions set by TFL, users who hold 0.1 or more of Terra Classic (LUNC) in their wallet after the attack will receive 30% of the amount when the Terra Classic blockchain is created after the hard fork, and the remaining 70% of the amount within the next 24 months.
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