Saturday, December 10

Flare Network Discloses That It Had Launched Its Validator Code, It Finally Confirms The Timelines For XRP Distribution For Its Holders

In the recent tweet released today by the Flare Network, the network disclosed that it had launched its validator code in the course of revealing the tentative timeline for token distribution for XRP holders in its announcement.

Flare Validator Code Is Now Live

Per Flare Network; “The Flare Network validator code is now live and publicly available,”

The network attests that the token dissemination timeline is slated to hold between 24th October and 6th November although, it is a function of the number of validators the network can attract.

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Per the post, “Provided sufficient validators have taken up their role, the Token Distribution Event will take place between 24th October and 6th November,” 

The new development seems to confirm Tuesday’s rumours stating that the Flare token distribution for XRP holders was scheduled between October and November.

It is worth noting that the Flare Network revealed that Flare will launch in Beta for 6 to 9 months, where network validation will be split between professional partners and Flare Time Series Oracle (FTSO) participants. The Beta launch allows FTSO participants to become adept at validating the network. 

The validator structure will follow as stated at Beta Launch;

Flare Foundation – 5 validators.

Professional Infrastructure Partner 1 – 5 validators.

Professional Infrastructure Partner 2 – 5 validators.

Professional Infrastructure Partner 3 – 5 validators.

FTSO validators – up to 100 validators.

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The professional partners and FTSO validators take the 20% inflation rewards equally while the foundation validators will not be rewarded.

In the same premise, professional partners will be phased out at the end of the Beta phase, leaving FTSO participants entirely in charge of network validation. 

It is worth noting that the agreement with Professional validators has already been reached as stated in the blog post.

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