• Flare Network has completed its long-awaited airdrop for holders of Ripple’s XRP token
• 4.279 billion Flare (FLR) tokens have been distributed to millions of users on various exchanges
• Developers can now take advantage of Flare’s EVM and native data acquisition protocols
Flare Network, a layer 1 Ethereum Virtual Machine (EVM) compatible oracle network blockchain, has successfully completed its first token distribution event, the long-awaited airdrop for holders of Ripple’s XRP token. This momentous event marks a significant milestone for the network which has suffered a more than two-year delay due to Ripple’s legal troubles.
The airdrop saw a total of 4.279 billion Flare (FLR) tokens distributed, making it one of the largest scale distributions in crypto history. The tokens were distributed simultaneously to millions of users across various exchanges, including Binance, OKX, Kraken, Bithumb, UpBit, KuCoin, and BitBank. This distribution accounts for the first 15% of the full public token distribution, with the method of allocation of the remaining 85% of token supply to be decided by the community.
The completion of the token distribution event opens the door for developers to take full advantage of Flare’s capabilities. These include the Ethereum Virtual Machine (EVM) and native data acquisition protocols, as well as the State Connector and Flare’s Time Series Oracle. This will enable developers to build decentralized applications which can provide more utility to a larger group of users.
In a statement, Flare Network’s CEO and co-founder, Hugo Philion, said: „For the blockchain industry to flourish, we need more useful decentralized applications. Flare is tackling this through data, not just prices but transaction details, Web2 events etc, so that developers can build applications that provide more utility to a larger group of users.“
The completion of the airdrop is the latest step in Flare Network’s journey. The project has seen tremendous progress since its launch in October 2020, with the completion of its mainnet and the launch of the Flare Testnet earlier this year. With the airdrop now complete and the public token distribution underway, Flare Network is well placed to become a major player in the blockchain space.