Flare Network Announces New FlareDrop Release of FLR Tokens
The Flare network, a layer-1 Ethereum Virtual Machine-compatible blockchain, has announced the release of a new FlareDrop, part of an ongoing series of FLR token distributions.
Staking Rewards for FLR Tokens
In a notable development, holders who are staking FLR tokens also qualify for the airdrop.
Beginning of Airdrop Distributions
This distribution follows the initial airdrop in January, where 4.28 billion FLR tokens were allocated to XRP holders, based on a snapshot taken in December 2020.
Future Token Distributions
Flare has committed to distributing the remainder of the tokens over a 36-month period.
Details of Monthly Token Distributions
The overall plan involves 36 monthly FlareDrops, cumulatively totaling 24.2 billion FLR, designated for active community members who have wrapped their Flare tokens.
Claiming FlareDrops
Users must access the Flare Portal and connect a wallet that held WFLR during the relevant holding period to claim these FlareDrops.
Supporting the Ecosystem’s Health and Development
Earlier, Flare announced it was set to burn 2.1 billion of its own FLR tokens in a bid to support the ecosystem’s health and development.
Hot Take: Flare Network Continues Token Distributions and Ecosystem Support
The Flare network has confirmed the release of a fresh FlareDrop series, initiating the further distribution of FLR tokens to eligible holders. Additionally, they have announced their commitment to supporting the ecosystem’s health and development through the burning of a substantial number of its own tokens.
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