Friday, December 2, 2022
HomeCrypto NewsMarketFlare Network Releases Map Detailing Launch process, as FLR Distribution for XRP...

Flare Network Releases Map Detailing Launch process, as FLR Distribution for XRP Holders Draw Closer

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The Flare Network team seeks to demystify its launch process by releasing a simplified flowchart map.



XRP holders have been in constant anticipation of the FLR airdrop. The community has recently witnessed reasons to be hopeful, as the Flare team confirmed previous rumors of a distribution period, as the airdrop is slated to occur before long.

Nevertheless, the Flare launch remains an enigma amongst the majority of proponents. Consequently, the team looks to address that with the recent map release detailing the launch process phases.

On Friday, Xavi Artigas, Head of Documentation at Flare Network, first published the document containing the map through his Twitter handle. The official Flare network, quoting it, referred the community to the document.

“The Flare launch involves a series of sequential phases with defined triggers for each transition. We have created a detailed document to help the #Flare community navigate the process.

Check it out here,” the handle noted.

 

The map shows that the community is currently in the first phase, the Private Observation Node stage. The Flare mainnet launch process combines five Flare Beta phases and three regular phases, including the Private Observation Node phase.

According to the flowchart, several detailed trigger actions will lead to the development of each beta or regular phase. This is the general process:

  • The network launch will trigger the Private Observation Node phase, which is the current phase.
  • When the validator source code is made publicly available, this will trigger the Public Observation Node beta phase.
  • Afterward, confirmation of 66% validator power being independent of the Flare team will give rise to the Initial Distribution Period beta phase. This is the token distribution event (TDE) that most XRP holders are interested in.
  • When 75% of the distribution reaches the appropriate recipients, the FIP01 Notice Period beta phase will commence. The FIP01 is a governance proposal to determine changes to the token distribution and FLR inflation.
  • One week after the FIP01 Notice Period, the FIP01 Voting Period will begin.

  • If the FIP01 is approved based on the votes, it will trigger the Regular Operation (this is the Flare beta protocol) phase.
  • Once the Flare beta ends, with all systems confirmed fully operational, the network will be fully launched in the Regular Operation phase.
  • Back to the FIP01 Voting Period; if the FIP01 is not approved based on the votes, the team will still bring up the Regular Operation phase, but it will be devoid of the FIP01 protocol changes.

This map helps to eliminate confusion arising from the Flare launch processes, as is the goal of the Flare team. Additionally, the Flare team notes that it will help the community have a tracker for the launch process.

Recall that the Flare team confirmed that the distribution period of the Flare airdrop for XRP holders is between October 24 and November 6, as The Crypto Basic previously highlighted.

The team revealed, however, that the period will depend on whether the network will attract attention from enough validators. They also noted that the network would launch in a beta stage lasting 6 to 9 months.

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Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

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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