Tuesday, December 6

Flare Network To Enable XRP Holders To Check The Number Of Spark (FLR) Tokens To Receive Via DApp

In the quest to fulfil the promise made by the flare network on the 30th of September, 2022 which says that it will be airdropping every XRP holder FLR token, the network is currently developing a decentralized application (Dapp) which will allow eligible users to see the amount of Spark (FLR) tokens they will get.

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Flare Network Promises To Airdrop XRP Holders Spark (FLR)Tokens

Per the recent statement by Flare network; “Provided sufficient validators have taken up their role, the Token Distribution Event will take place between 24th October and 6th November. The exact date is dependent on feedback from exchanges.”

According to the recent tweet shared by the flare Network, it noted that the FIP.01 proposal aims at changing the tokenomics of Flare Network to the benefit of holders.

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Flare. space tweeted, “Proposed FIP.01 will change the tokenomics of the Flare network for the benefit of the holders! We are developing a dApp that will show you how much MORE FLRs you can get. If you want to access the dApp, follow us. We will release it once we reach 2,000 followers.”

FIP.01 Proposal To Bring Changes

As gotten from the blog post, the FIP.01 proposal is made of a set of changes that will be made to the distribution and inflation of FLR which will follow the changes in payout structure and recipients of the Cross Chain Incentive pool.

As further noted in the post, the proposed changes are made in such a way as to secure the already done airdrop recipients’ foundational place in the ecosystem and give newcomers equal rights.

Per the update; “If FIP.01 is successfully passed by the community, individuals will no longer be reliant on distributions from centralized platforms. If the level of staking on Flare is anywhere near the industry average, then those who delegate will receive more Flare tokens via the new proposal than the current system.

More also, “This proposal substantially lowers inflation and reduces the long-term supply, meaning those that participate could end up with a meaningfully larger share of the token ownership as they would have more tokens with fewer in circulation.”


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