For the first time, Flare Networks is formulating a firm date on which it will execute its highly anticipated token airdrop.
Flare Networks is announcing that it will likely begin distributing its native FLR tokens to XRP holders late this June.
“The FLR distribution will start when the Flare Network goes live. The team is working to make this happen SAFELY as soon as possible. It is dependent on finishing security testing. We expect this at the end of June +/- 2-4 weeks.”
Last year, the firm partnered with Ripple to airdrop XRP holders a total of 45,827,728,412 FLR tokens.
Flare will also be airdropping its native token to LTC holders sometime in the future.
Flare is a new blockchain network that intends to help assets such as XRP, Litecoin (LTC), and possibly BTC to enable smart contract functionality and access decentralized finance (DeFi).
Earlier this year, Flare’s co-founder Hugo Philion commented on the firm’s plans to build out its ecosystem with a strong commitment to maintaining a decentralized and automated framework that ensures there is no central authority running its network.
“Flare is creating a network. Then once it creates a network, that network has a foundation. After that point, there is a governance process for everything. Flare will not be just continually adding new things without governance from a network. Because specifically we cannot. That is not the way this works. It has to be a decentralized network. It has to have governance and also, we cannot as a foundation, and even as a sponsor, potentially related commercial entity, we cannot undertake to do anything for the network. Because as you have seen as many, many different cold cases, we make no undertaking that we have any responsibility towards building.
This is not a security… We are setting up a network. It is going to run like an automaton and hopefully it provides utility and it bulls an ecosystem around it.”Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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