Flare Network Launches Public Staking Phase 2
Flare Network, an oracle service provider and key ally of Ripple, has announced the launch of Flare Staking Phase 2. Users can now transfer their FLR tokens from the C-Chain to the P-Chain, allowing them to actively participate in securing the network and earn rewards. To get started, users must unwrap their FLR tokens and use a Ledger hardware wallet to access the staking tool. The minimum staking amount is 50,000 FLR tokens, and the minimum staking duration is 14 days. Users are advised to keep a small amount of FLR on both chains to cover transaction fees.
Token Burn Campaign and Onboarding Atriv
Flare Network has also announced a token burn campaign, where 2.1 billion FLR tokens will be burned over time. This initiative aims to reduce token supply and bring transparency to the ecosystem. In addition, Flare Networks has onboarded Atriv, a Web3.0 digital platform powered by AI technology, to enhance its ecosystem functionalities.
Hot Take: Flare Network Enhances Staking Opportunities and Token Burning
Flare Network’s launch of public staking Phase 2 opens up new possibilities for FLR token holders to secure the network and earn rewards. The token burn campaign further reduces token supply and adds transparency to the ecosystem. These developments demonstrate Flare Network’s commitment to enhancing its platform and providing opportunities for its community members.
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