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Top crypto exchange Binance says it has completed the Flare ($FLR) airdrop distribution to $XRP ($XRP) holders. Users who had at least 10 $XRP in their Binance accounts at the time of the snapshot (including those in trade orders) were eligible for Flare ($FLR) token distribution.
According to the crypto exchange, the Flare ($FLR) tokens were distributed to eligible users at a ratio of 1 $XRP to 0.1511 $FLR.
The Flare token distribution on Jan. 9 marks the first 15% of the overall public token distribution; the remaining 85% will be distributed over 36 months.
Based on the results of a community vote on Flare Improvement Proposal 01 (FIP.01), the distribution method for the remaining 85% of the token supply will be determined.
Regardless of whether FIP.01 is approved or not, the total number of tokens allotted for public distribution is 28,524,921,372 $FLR, as mentioned in a blog post. This equals a ratio of 1.0073 $FLR for every 1.0000 $XRP held.
Layer 1 oracle network flare launches
According to a blog post, Flare has accomplished a big feat with the launch of its Layer 1 Oracle Network. Flare bills itself as the blockchain for developing applications that integrate data from other chains and the internet.
On Jan. 9, 2023 Flare successfully started its long-awaited token distribution at 11:59 p.m. UTC.
Millions of recipients received 4.279 billion Flare ($FLR) tokens during the first phase of the distribution, including users of Binance, OKX, Kraken, Bithumb and several other platforms.
Ledger Live has also announced support for the Flare network.