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The Flare (FLR) token airdrop started on Jan. 9, almost two years after a snapshot of XRP (XRP) holders happened on Dec. 12, 2020. The FLR airdrop was distributed at a ratio of 1.0073 FLR per 1 XRP, with 15% of the entire provide launched to the group.
A complete of 28.5 billion FLR had been distributed and in keeping with Flare’s tokenomics, 58.3% of the entire genesis FLR provide shall be distributed over 36 months.
What’s Flare?
Flare is a Layer-1 blockchain with an oracle system aiming to spice up interoperability amongst decentralized purposes (DApps) and blockchains. Whereas the token solely lately launched, the protocol launched its mainnet on July 11. Thus far, the Flare mainnet has already processed over 70 million transactions with over 500,000 distinctive wallets.
FLR follows the trail of most airdrops
In keeping with information from CoinGecko, the FLR token began buying and selling on Jan. 9 at $0.05 amid low liquidity on the MeXC trade. After launch, the token soared to $0.15 as exchanges like Binance, OKX and Kraken began buying and selling the airdropped token.
Shortly after the elevated liquidity arrived from the centralized exchanges, the FLR token value started to crash. On the time of writing, FLR value has pulled again by 76% to $0.02 and its 24-hour buying and selling quantity sits barely under $50 million.
Whereas the airdrop offered long-awaited FLR tokens for gratis to XRP holders, the result of instant promoting is routine for many airdrops. Proof of actual success shall be whether or not the community sees a sustained uptick in using its layer 1 and interoperable oracle use case.
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