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The Flare Network token airdrop has already begun! Flare Network announced that all XRP holders would receive FLR, the project's native token, in a press release on January 9.
At 11:00 UTC on January 9, Flare Network began issuing FLR tokens to each XRP owner. It is releasing a portion of its 4.279 billion FLR coin to XRP holders on important exchanges including MEXC. Through this airdrop, 15% of the total token supply will be given away. Additionally, the airdrop is calculated at a rate of 1 XRP to 1.1511 FLR for each snapshot taken on December 12, 2020. For the following three years, each month, the remaining tokens will also be given out.
Was the FLR token airdrop a failure?
Currently underway is one of the largest airdrops in the history of the cryptocurrency market. However, there was a wild dump right before the airdrop. The token's price was really hovering around $0.5394 prior to the airdrop. But it hit a new low of $0.1559 instead. As of this writing, they are stable at $0.04002. (10 January 2022).
In 2020, Flare Network gained a lot of attention since they want to open the DeFi industry to XRP. But XRP has already advanced enough to build a bridge for ETH on its own. They have a DEX as well as their own NFT standards. As a result, a number of investors began to question Flare Network's value.
Thankfully, FLR is responding to the situation by providing smart contract functionality. They are introducing smart contracts to blockchains that do not already have them, starting with Ripple.
The Flare Network token airdrop has already begun! Flare Network announced that all XRP holders would receive FLR, the project's native token, in a press release on January 9.
At 11:00 UTC on January 9, Flare Network began issuing FLR tokens to each XRP owner. It is releasing a portion of its 4.279 billion FLR coin to XRP holders on important exchanges including MEXC. Through this airdrop, 15% of the total token supply will be given away. Additionally, the airdrop is calculated at a rate of 1 XRP to 1.1511 FLR for each snapshot taken on December 12, 2020. For the following three years, each month, the remaining tokens will also be given out.
Was the FLR token airdrop a failure?
Currently underway is one of the largest airdrops in the history of the cryptocurrency market. However, there was a wild dump right before the airdrop. The token's price was really hovering around $0.5394 prior to the airdrop. But it hit a new low of $0.1559 instead. As of this writing, they are stable at $0.04002. (10 January 2022).
In 2020, Flare Network gained a lot of attention since they want to open the DeFi industry to XRP. But XRP has already advanced enough to build a bridge for ETH on its own. They have a DEX as well as their own NFT standards. As a result, a number of investors began to question Flare Network's value.
Thankfully, FLR is responding to the situation by providing smart contract functionality. They are introducing smart contracts to blockchains that do not already have them, starting with Ripple.