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XRP: Coinbase Starts Flare (FLR) Airdrop Distribution to Users

Wed, 04/12/2023 - 11:06
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Tomiwabold Olajide
Customers of Coinbase exchange in authorized jurisdictions will be eligible to receive FLR tokens
XRP: Coinbase Starts Flare (FLR) Airdrop Distribution to Users
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Leading cryptocurrency exchange Coinbase has begun to provide its users with the January Flare (FLR) airdrop. The exchange said earlier that it would keep its promise to support the Flare (FLR) token airdrop for eligible users.

Customers of Coinbase (simple and advanced trade categories), as well as users of the Coinbase exchange in authorized jurisdictions, who held XRP on the snapshot date of Dec. 12, 2020, will be eligible to receive FLR tokens.

The funds will be distributed to Coinbase user accounts after the processing is finished, which is anticipated to take the next 72 hours. Outbound transfers for Flare (FLR) will not be available in the meantime. On Coinbase, in areas where trading is supported, inbound transfers have already begun.

The exchange will announce the forthcoming debut of trading the FLR-USD pair in stages after a sufficient supply has been established and the Flare airdrop distribution is complete.

Coinbase finally listed FLR, much to the joy of the XRP community, which had agitated that the crypto exchange should distribute the Flare airdrop to XRP holders. This might be seen as a step forward given the association between FLR and XRP.

Meanwhile, XRP holders continue to clamor for the relisting of XRP on the Coinbase exchange.

In early January 2021, Coinbase suspended XRP trading on its platform shortly after the SEC took action against Ripple Labs.

Flare airdrop

Flare successfully initiated its token airdrop distribution on Jan. 9, 2023. The first stage of the distribution saw 4.279 billion Flare (FLR) tokens distributed to millions of recipients across several exchanges.

Flare (FLR) Token Airdrop Distribution to XRP Holders Completed by Binance: Details

Subsequently, a total of 24,246,183,166 FLR will be split into 36 Flare drops. Tokens will be claimable at noon UTC every 30 days, beginning on March 17, 2023. There will be 35 distributions of 676,040,637 FLR and one last distribution of 584,760,871 FLR in the final, 36th, month.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.