After two years of waiting, the Airdrop Phase 1 of Flare Token is finally happening. Billions of tokens were distributed to millions of recipients on Monday. The original Airdrop schedule was in 2020.
In the token giveaway, there were 4.28 billion FLR tokens. which is Flare’s original coin to the qualified recipients selected from the December 2020 snapshot, who must have a wallet that had at least 1 xrp at the time.
This first phase airdrop is the first for the project and represents 15% of the project’s total supply. The remaining 85% will be distributed over the next three years, Flare said in an announcement Monday. The next phase will proceed according to thevoteof communities within the Flare network
FLR token holders from today’s airdrop will be able to vote on governance proposals. In order to do so, they must first wrap their FLR tokens.
Flare started out as a project aimed at building a DeFi eocsystem for Ripple, which is why the airdrop is associated with xrp, but the project has been modified over the past two years and now aims to provide a smart contract solution. For blockchains that do not have the ability to execute smart contracts.
“The purpose of Flare is to help developers build applications with more accessible and secure data,” Flare co-founder and CEO Hugo Philion said in the announcement. “This could enable new uses, such as triggering Flare smart contract actions with payments on other networks. or with information from internet/web2 API”
The post finally!! Flare Token Airdrop Giveaway Phase 1 After Waiting 2 Years appeared first on Bitcoin Addict.