Flare Network Enters Beta Mode As XRP Holders Await Long-Delayed Spark (FLR) Token Giveaway

Flare officially enters beta mode as XRP holders continue to wait for the long-delayed Spark (FLR) token airdrop.

flare announced On Friday morning, he announced via Twitter that he had crossed the “decentralization threshold.”

There are currently 20 validators on the network mainnet, only 4 of which are run by the Flare Foundation. The other 16 are operated by validator partners.

The company says the “token distribution event” will take place after agreeing on a suitable date with the exchange partners.

Flare Network aims to essentially bring smart contract functionality to various blockchain networks using native FLR tokens.

The company previously said that each eligible holder will receive 15% of their claimable Spark tokens immediately, followed by an average of 3% per month, for a minimum of 25 months and a maximum of 34 months.

FLR will be distributed to XRP holders based on a snapshot of the network taken in late 2020.

In late September, Flare said it planned to distribute FLR tokens between October 24th and November 6th, provided that enough validators take up the role.

Flair CEO Hugo Fillion said: after being late However, its timetable. The CEO now says the FLR tokens will be distributed by January 9th at the latest he said.

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Featured image: Shutterstock/Yurchanka Siarhei