The Flare network itself will bring Ethereum-based smart contracts to non-Ethereum Virtual Machine compatible networks like the XRP Ledger. Spark tokens are to be used for governance on the Flare network through voting mechanisms, and token holders will be able to earn a return on their holdings by committing Spark tokens as collateral to secure the trustless issuance and redemption of FXRP, a protocol built to “safely enable the trustless issuance, usage, and redemption, of XRP on Flare.” Spark token full#We have reached out to the largest exchanges to get full definition on what they require in order to distribute the token, so that Flare meets those requirements.- Hugo Philion February 2, 2022 With regards to exchange distribution of the $FLR token. The slow rollout is reportedly meant to avoid users from selling their FLR tokens on the market as soon as they receive them so the price doesn’t plummet right away. The airdrop will carry on for a minimum of 25 months and a maximum of 34 months to eligible XRP holders. It will also allow for “advanced testing and community building for applications that wish to launch on Flare” and be a way for FLR token holders to familiarize themselves with key network protocols.Īs CryptoGlobe reported, Flare detailed its plan to airdrop Spark (FLR) tokens to XRP holders after months of planning the airdrop. Songbird will over the long term be used to test governance changes on Flare and to incorporate new features. On such a network, users’ balances “cannot be replenished at will” according to Philion, who has in the past detailed Songbird’s use. A full roadmap to Flare launch will be release in the coming weeks.- Hugo Philion February 2, 2022Ī canary network is an operational blockchain with a scarce token supply intended to be used to test features associated with the mainnet. This will then allow us to proceed to Flare launch. We are upgrading Songbird, before the end of March 2022, with the final 2 protocols required before Flare launch. For all those asking where their $FLR is.
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