Flare is officially entering beta mode as XRP holders continue to await its long-delayed Spark (FLR) token airdrop.
Flare announced via Twitter on Friday morning that it had surpassed its “decentralization threshold.”
The network now has 20 validators on its mainnet, only four of which are run by the Flare Foundation. The 16 others are run by validator partners.
The company says the “token distribution event” will happen once it agrees on a suitable date with its exchange partners.
Flare Network, with its native FLR token, aims to essentially bring smart contract capabilities to various blockchain networks, starting withXRPand thenLitecoin(LTC).
The company previouslysaidthat each eligible holder will immediately receive 15% of their claimable Spark tokens, and then claim an average of 3% per month, carrying on for a minimum of 25 months and a maximum of 34 months.
FLR will be distributed to XRP holders based on a snapshot of the network taken in late 2020.
In late September, Flare said it planned to distribute the FLR tokens between October 24th and November 6th, provided enough validators took up their roles.
Flare chief executive Hugo Philion has since delayed that timetable, however. The CEO now says the FLR tokens will be distributed by January 9th at the latest.
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Featured Image: Shutterstock/Yurchanka Siarhei
FAQs
Go to XRPScan, paste your XRP address, and navigate to the Flare tab to find your Flare address and claimable FLR balance. If some FLR tokens are available to claim, head over to Ledger Live or MetaMask to claim your tokens.
Who is eligible for FLR airdrop? ›
Do I qualify for the airdrop? To qualify for the initial 15% airdrop, you must have had a confirmed positive balance of XRP in your Uphold account at the time of the snapshot - 00:00 UTC on 12th December 2020.
How much Flare do you get for XRP? ›
Current FLR to XRP exchange rate
1 FLR equals 0.060 XRP. The current value of 1 Flare Network is +0.08% against the exchange rate to XRP in the last 24 hours. Create a free Kraken account to instantly convert FLR to XRP today.
Is Flare built on XRP? ›
Flare: all you need to know
Flare's blockchain, which before the release of the second version was called Spark, has always been closely linked to Ripple and, in particular, to the XRP Ledger, as evidenced by the airdrop dedicated to cryptocurrency holders of the same name.
How to get free XRP airdrops? ›
Register and Prepare Your Wallet
- Register with the Distributing Platform: Begin by registering on the platform that is distributing the airdrop. Provide your active cryptocurrency wallet address where the airdrops will be sent.
- Ensure Wallet Compatibility: Confirm that your wallet supports the new tokens.
Claiming from the Flare Portal
- Go to the Flare Portal.
- Click Connect to Wallet and log into your wallet.
- Your Main Account is open by default. ...
- Under Claim your FlareDrop distribution, any $FLR you have to claim displays on the button. ...
- Click the Claim button to claim your $FLR .
The distribution ratio is 1.0073 FLR per 1 XRP x 0.15 (15% of the total supply released to the community).
How much Flare will I get? ›
How much will I receive? Each monthly airdrop is calculated based on 3 random snapshots from the 23 days prior to the monthly distribution day. The 35 first instalments will be of 676 040 738 FLR and the last one will be of 584 760 888 FLR.
How to receive XRP airdrop? ›
Claim: To receive your XRP tokens, participants must go through a claiming process outlined by the XRP airdrop. This process usually includes verifying your ownership of the snapshot addresses and completing specific tasks or requirements. Coin: XRP is the digital coin or token distributed through the airdrop.
Will XRP reach $500 dollars? ›
Can XRP Reach 500 Dollars? No, Considering current market conditions and XRP fundamentals, it's nearly impossible to reach $500, but still, it's a topic of debate among analysts and traders.
Yes. It can. People will often mention the market cap being too high for this to happen.
What happened to XRP Flare airdrop? ›
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.
What block chain is XRP on? ›
XRP is a cryptocurrency that runs on the XRP Ledger, a blockchain engineered by Jed McCaleb, Arthur Britto and David Schwartz.
Is Flare and Spark token the same? ›
The Flare token (FLR) is the native token of the Flare crypto ecosystem. It was previously known as the Spark token. However, the token was renamed following an October 2022 announcement. Like many other native tokens, the FLR token is used to interact with smart contracts and pay transaction fees.
How long do I have to claim Flare Rewards? ›
After wrapping Flare (FLR) into Wrapped FLR (WLR), you can delegate your WFLR and earn additional rewards. Delegated WFLR tokens are not locked. Rewards are distributed at the end of every epoch (3.5 days). You will be eligible for rewards if you have delegated before the snapshot block for that epoch.
Which wallet supports the Flare token? ›
Ledger Nano S Plus
The perfect crypto wallet to start securely managing your Flare.
How to claim flare tokens on MetaMask? ›
Adding Flare Tokens
- Open the MetaMask browser extension.
- Unlock your MetaMask wallet with your password.
- Click the networks drop-down menu, and click Add network. In a browser tab, the Settings menu opens to the Networks section.
- Scroll to the bottom of the page, and click Add a network manually.
