• Flare Network has initiated a token airdrop of FLR tokens, distributing 4.279 billion tokens across multiple major exchanges.
• The initial airdrop represents 15% of the total token distribution. The remaining 85% of tokens will be distributed over the next 36 months.
• If approved, the Flare Improvement Proposal 01 would place a hard cap on FLR’s annual inflation rate.
The Flare Network has been making waves in the crypto world by initiating a large-scale token airdrop of FLR tokens across multiple major exchanges. This token airdrop included an initial distribution of 4.279 billion tokens, representing 15% of the FLR’s total token distribution, and was conducted on January 9 at 23:59 UTC. These exchanges included Binance, OKX, Kraken, Bithumb, UpBit, Kucoin, and BitBank, among others.
As the airdrop marks one of the most large-scale token distributions in crypto history, it is expected to have a significant impact on the crypto market. This is especially true considering the remaining 85% of tokens will be distributed over the next 36 months, according to the community vote on the Flare Improvement Proposal 01. If passed, this proposal will place a hard cap on FLR’s annual inflation rate.
The airdrop of FLR tokens is a major milestone for the Flare Network, as it will help the network to achieve its goal of becoming a layer 1 oracle network. This network will enable smart contracts to interact with real-world data and events, making it possible to create a variety of decentralized applications.
The FLR token is expected to be a major component of Flare Network’s success, as it will be used to fuel transactions on the network. Additionally, users can use the token to stake their tokens in order to be eligible for rewards, such as discounts and access to exclusive features.
With the airdrop of FLR tokens, the Flare Network is set to become a major player in the crypto world. Its ambitious goals and innovative technology are expected to revolutionize the way smart contracts interact with real-world data and events. This will open up a variety of new use cases for decentralized applications and make the Flare Network an important component of the future of the crypto market.