Flare (FLR), a blockchain focused on cross-network interoperability and bringing smart contracts to non-programmable chains, is almost ready to start FLR distribution to XRP holders.
Flare (FLR) approaches decentralization and airdrop: New deadlines
According to an official announcement shared by the Flare Network (FLR) team, its protocol is finally achieving decentralization governance. For the next six to nine months, the network will operate in Beta Mode.
Token Distribution Event (TDE) News#Flare will be decentralized on or around 24th October, enter Beta Mode, and be ready to initiate token distribution.— Flare ☀️ (@FlareNetworks) October 21, 2022
Currently, the network's transaction validating process is fully decentralized: over 100 independent validators are in charge of keeping network integrity and attack resistance. With that milestone accomplished, the team is ready to distribute FLR tokens to all eligible wallets — both exchange-based and non-custodial ones.
As such, the team is starting to discuss the airdrop with the supporting exchanges (over 100 platforms): their users are responsible for 9 out of 10 wallets eligible for the airdrop. As a result of "constructive conversations," XRP tokens will be released by exchanges two weeks after the official Token Distribution Event (TDE) date.
While the network is almost ready for the distribution, based on the estimated discussion timelines and Christmas holidays, the final date of tokens being airdropped to end user wallets will be by Jan. 9, 2023. However, should exchanges be able to distribute FLR in December, Flare's instruments will be ready.
How many crypto users will receive FLR?
The Flare (FLR) team is fascinated by the scale of its token distribution. They estimate the final number of the cryptocurrency holders ready for participation in the FLR airdrop to be between 5 and 10 million:
We estimate that 5-10 million individuals will receive FLR during the public token distribution, and the exchanges have a very important task in ensuring that all of their customers' funds are distributed safely. Flare Network is one of the largest token distributions that blockchain has ever seen.
As reported by U.Today previously, FLR tokens will be airdropped to all owners of XRP who took part in the snapshot event on Dec. 12, 2020. All major centralized cryptocurrency exchanges supported the airdrop: their users will get FLR proportionally to their XRP holdings at the snapshot date.
Since 2020, the Flare (FLR) network has organized a series of testnets ("Coston") and launched Songbird (SGB), a canary network for Flare's mainnet.