TechFlow News, the Layer 1 EVM blockchain Flare officially launched its Flare Network on Monday, distributing 4.28 billion Flare tokens (FLR) to users via an airdrop based on a snapshot taken in December 2020, which captured wallets holding at least 1 XRP at that time.
This initial airdrop represents 15% of the project's total supply. In a Monday announcement, Flare stated that the remaining 85% will be distributed over the next three years. This subsequent phased distribution will be determined by community voting within the Flare Network community, allowing recipients of the airdropped FLR tokens to vote on governance proposals for the secondary allocation.
Flare functions as an oracle network, enabling developers to build applications designed to interoperate with different blockchains and internet platforms and services. To support this, Flare has launched two key projects: the State Connector protocol and the Flare Time Series Oracle (FTSO). Original article link
