The flare (FLR) airdrops 15% of the total supply as XRP before correcting by 76%

The layer 1 Flare blockchain finally followed through after a two-year wait, sending tokens to those who held XRP at the time of the snapshot. The Flare (FLR) token airdrop began on January 9, nearly two years after the XRP snapshot on December 12, 2020. The FLR airdrop was distributed at a 1.0073 FLR per 1 XRP ratio, with 15% of the total supply made available to the community. A total of 28.5 billion FLR were distributed, and 58.3% of the total genesis FLR supply will be distributed over 36 months, according to Flare’s tokenomics. 

What is Flare?

Flare is a Layer-1 blockchain with an oracle system that aims to improve interoperability between blockchains and decentralized applications (DApps). While the token was only recently launched, the protocol’s mainnet went live on July 11. To date, the Flare mainnet has processed over 70 million transactions using over 500,000 different wallets. 

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