The long-awaited Flare (FLR) airdrop that XRP investors have been waiting for is finally starting. Here are the notes and date from the airdrop program…
Flare (FLR) airdrop is at the door
According to a new announcement from the Flare team, the protocol is finally getting closer to decentralized management. The date of transition to Airdrop and Beta mode has been set as October 24. The team released an official announcement stating that the protocol is moving to decentralized management. The network will run in beta mode for the next six to nine months.
Token Distribution Event (TDE) News#Flare will be decentralized on or around 24th October, enter Beta Mode, and be ready to initiate token distribution.
1/3 pic.twitter.com/oBGeCavvdZ— Flare ☀️ (@FlareNetworks) October 21, 2022
Currently, the protocol’s transaction verification process is completely decentralized. More than 100 independent validators are responsible for the integrity of the network and its attack resistance.
Who can benefit from the airdrop?
Flare Network has a distributed oil integrated with EVM. It can be used to create two-way bridges between networks such as Ethereum and XRP Ledger. After nearly two years, the Flare project will finally airdrop its Flare (FLR) token (officially Spark) to XRP holders. According to estimates, 5-10 million people are currently waiting for the airdrop. The project recently released a new distribution schedule. He said it will take place between October 24 and November 6, depending on talks with exchanges.
The FLR airdrop is distributed based on their wallet received on December 12, 2020. All major centralized cryptocurrency exchanges will support the airdrop event. Anyone holding XRP on participating exchanges will be eligible for the airdrop. Crypto.com is also among the platforms that support Airdrop. Excluded accounts include Ripple co-founder Jed McCaleb and accounts known to have received XRP as a result of fraud, theft and fraud.
🚨 FLR Token Airdrop 🚨
✅ https://t.co/vCNztABJoG is supporting the Flare (FLR) airdrop for XRP holders from supported jurisdictions
📷 Based on the snapshot of XRP balance on 12 December 2020, 00:00 UTC
@FlareNetworks pic.twitter.com/uhMESH0XEX— Crypto.com (@cryptocom) October 20, 2022
The Flare project is bringing smart contract capabilities like that of Ethereum to other networks, starting with Ripple. It also plans to bring this feature to Litecoin. Flare essentially aims to bring DeFi capabilities to networks. Additionally, the Flare Token will provide functionality related to protocol management, collateralization, and data provisioning via an on-chain oracle. One of the reasons why the project was delayed was the legal battle between Ripple and the SEC. The litigation process has been ongoing since 2020.
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