HomeCrypto NewsMarketFLR Airdrop Finally Happening in Less Than 24 Hours to Eligible XRP Holders

FLR Airdrop Finally Happening in Less Than 24 Hours to Eligible XRP Holders

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Flare to commence the FLR token distribution in less than 24 hours.


The team behind Flare Network has confirmed that the FLR Token Distribution to XRP holders will take place in less than 24 hours. In an announcement on Twitter, the Flare Network team said the FLR airdrop will commence today at 23:59 UTC. 

“The FLR Token Distribution event is just 24 hours away,” Flare said in an announcement today. 

Furthermore, Flare also invited enthusiasts of the project to a Twitter Space scheduled for tomorrow.

“Join the Flare team and guests on Twitter tomorrow. The distribution starts at 23:59 UTC sharp. The stream will start a few minutes before,” it added. 

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Flare Token Distribution Event

It is worth mentioning that the FLR Token Distribution Event (TDE) is one of the most anticipated events in the XRP community. Members of the XRP community have been looking forward to the FLR TDE since the snapshot was taken on December 12, 2020, at 00:00 UTC. However, the team has stalled the FLR airdrop due to some factors linked to the Flare project.

Last year, Flare CEO Hugo Philon noted that FLR’s distribution to XRP holders was stalled due to an upgrade of Songbird, the canary network for the Flare blockchain.

“For all those asking where their FLR is. We are upgrading Songbird before the end of March 2022, with the final two protocols required before the Flare launch. This will then allow us to proceed with the Flare launch….” Philon said.

The Flare team also postponed the exercise from occurring between October 24, 2022, and November 6, 2022, due to its inability to “attract a good number of validators.” 

Interestingly, the team scheduled the FLR TDE to be held on January 9, 2023, at 23:59 UTC. The Flare team remains confident that the exercise will occur as scheduled.

Several crypto exchanges have declared support for the upcoming FLR distribution to eligible XRP holders. As reported by TheCryptoBasic, the world’s largest cryptocurrency exchange Binance reiterated its commitment to support the upcoming FLR airdrop. Coinbase also confirmed to support FLR Tokens to XRP Holders

Aside from Binance and Coinbase, other exchanges that have declared support for the FLR airdrop include Uphold, OKX, KuCoin, Huobi, Gate.io, Crypto.com, Okcoin, MEXC Global, etc.

Notably, the FLR airdrop will be distributed to crypto users who had XRP balances on exchanges and external wallets at the time of the snapshot on December 12, 2020, at 00:00 UTC.

As shared by @sentosumosaba, “58.3% of the genesis Flare supply is allocated to the community. Then after the initial 15% distribution, the majority of entities receive the remainder of their allocation smoothly over 36 months.”

FLR token Distribution
image source: https://twitter.com/sentosumosaba/status/1612367167361781761

 

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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.

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