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HomeCrypto NewsMarketFlare Network New dApp to Show XRP Holders the Number of FLR...

Flare Network New dApp to Show XRP Holders the Number of FLR Tokens They Will Receive

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Flare is building a dApp to display how many FLR tokens people will receive.

With Flare Network preparing for its token distribution, the team behind the project has revealed that it is currently developing a new decentralized application (dApp) for the community.

According to a recent announcement by Flare.Space, the decentralized application, will keep XRP holders, who are beneficiaries of the Flare token airdrop, informed about the number of FLRs they can receive.

This way, people can keep tabs on the number of tokens they are entitled to get when the token distribution commences.

“We are developing a dApp that will show you how much MORE FLRs you can get,” the project noted in a tweet.

The team did not share more insights about the upcoming decentralized application. However, it assured its community that it would release more details when its Twitter followers soared to 2,000. Currently, the number of followers on the official Twitter account of Flare.Space is around 1,200.

Flare: FIP.01 Proposal Will Benefit Existing Token Holders

Meanwhile, Flare.Space further assured FLR holders that the recently-launched Flare Improvement Proposal 01 (FIP.01) will change the tokenomics of FLR and benefit holders of the cryptocurrency. According to a blog post, the proposal will contribute to the long-term success of Flare.

This proposal has been designed to preserve existing airdrop recipients’ foundational place in the ecosystem and put those coming fresh to the ecosystem on equal footing,” an excerpt noted.

Flare to Distribute Tokens Soon

Flare recently confirmed the timeline for its token distribution to XRP holders. In a tweet, Flare said the token would be distributed to XRP holders between October 24, 2022, and November 6, 2022.

The FLR token distribution to XRP holders will depend on whether the network will attract “sufficient validators,” the announcement added.

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Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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