What is the issuance amount of Flare coins?

The total supply of Flare coins (FLR) is 100 billion, with 27.5 billion allocated to the Flare Foundation and the remaining 72.5 billion distributed to XRP holders through the Spark token airdrop.

Nov 21, 2024 at 02:59 am

What is the Issuance Amount of Flare Coins?

Flare is a blockchain platform that aims to bring smart contract functionality to the XRP Ledger. The Flare network launched on May 18, 2021, and uses a proprietary consensus mechanism called the Flare Consensus Protocol (FCP).

The total supply of Flare coins (FLR) is 100 billion. Of this total, 27.5 billion FLR have been allocated to the Flare Foundation, which is responsible for overseeing the development and governance of the Flare ecosystem. The remaining 72.5 billion FLR will be distributed to XRP holders who participated in the Spark token airdrop.

The Spark token airdrop was launched on December 12, 2020, and distributed 15% of the total FLR supply to XRP holders. To be eligible for the airdrop, XRP holders had to have their XRP stored in a supported wallet or exchange at the time of the snapshot.

The issuance amount of Flare coins is designed to ensure that the network remains decentralized and secure. The Flare Foundation will use its allocation of FLR to fund the development of the Flare ecosystem, as well as to support projects and businesses that are building on Flare. The distribution of FLR to XRP holders will help foster a robust and engaged community of users and developers.

Questions and Answers

How many Flare coins are in circulation?
27.5 billion FLR are currently in circulation. This number will increase as more FLR are mined and distributed.
What is the total supply of Flare coins?
The total supply of Flare coins is 100 billion.
How are Flare coins distributed?
15% of the total FLR supply was distributed to XRP holders through the Spark token airdrop. The remaining 85% of FLR will be mined and distributed to network participants over time.
What is the role of Flare coins in the Flare network?
FLR coins are the native currency of the Flare network. They are used to pay for transaction fees, participate in network governance, and stake to earn rewards.
How can I acquire Flare coins?
You can acquire Flare coins by purchasing them on a cryptocurrency exchange, participating in the Spark token airdrop, or mining them.

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