cryptopotato.com
Flare – a layer 1 oracle network – has initiated its $FLR token airdrop across multiple major exchanges including Binance, OKX, Kraken, Bithumb, UpBit, Kucoin, and BitBank, among others.
With 4.279 billion $FLR tokens distributed to millions of users, the airdrop marks one of the most large-scale token distributions in crypto history.
- According to a press release, Flare’s initial airdrop represents 15% of the $FLR’s total token distribution. It took place at 23:59 UTC on January 9.
- The remaining 85% of tokens will be distributed over the next 36 months according to the community vote on Flare Improvement Proposal 01.
- If passed, the proposal would place a hard cap on $FLR’s annual inflation at 5 billion tokens per annum.
- The Flare network is designed to allow developers to build apps that are interoperable with the internet and other blockchains.
- The network leverages its State Connector to let smart contracts securely interact with information sourced from other blockchains.
- Meanwhile, the Flare Time Series Oracle provides prices and data series to dapps without relying on centralized data providers. Flare describes it as a “highly decentralized data feed oracle” that sources data from nearly 100 independent data providers.
- “For the blockchain industry to flourish, we need more useful decentralized applications,” said Hugo Philion, CEO & Co-founder of Flare. “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.”
- Hugo added that Flare could usher in new use cases such as triggering a smart contract through a transaction on another blockchain or allowing non-smart contract tokens to be bridged to Flare.
- Flare launched in July of last year for builders and developers to interact with, while introducing a developer adoption program the following month.