Bitget will now support the Flare (FLR) token airdrop. However, it is now among the cryptocurrency exchanges that will do so. Users who held the XRP token at the time of the snapshot, which occurred approximately two years ago, will be able to obtain their tokens.
FLR is a flexible token that adds value to both the network and the currency. The FLR token, for instance, can be utilized for:
- Participate within Governance
- Collateral
- Transaction Fees
The initial FLR distribution process would remain the same: The first 15% of FLR tokens will be given out to existing airdrop recipients. However, the remaining 85% of tokens will be distributed in 36 monthly installments. This is equivalent to 4,278,738,205 FLR. The Flare tokens will be distributed to each XRP holder in a 1:1 ratio. However, users will only receive 15% of the total number of FLR tokens available to them in this airdrop.
Flare token is supported by Coinbase
The largest cryptocurrency exchange in the US, Coinbase, also added FLR support earlier this month. In addition to Bitfinex and Kraken, other well-known cryptocurrency trading platforms include Bitstamp, Bitrue, Okcoin, and Bitcoin.
A recent announcement states that the Flare Token Distribution Event (TDE) will now occur on January 9. According to the project, the support from the major trading stages that agreed to give their users access to the FLR token has been “excellent.”
The Flare Network is a brand-new, extremely sophisticated blockchain technology. However, that aims to increase the functionality and usefulness of the Ethereum Virtual Machine (EVM). Bringing secure, decentralized smart contracts to other protocols like Ripple and Litecoin is the fundamental objective of Flare Network. These public blockchain projects now have a lot of room to grow.
XRP Price Analysis
XRP price at the time of writing is $0.3363, with a market capitalization of $33.6B and a 24-hour trading volume down by 4.54%. Now it stands at $693 million. At the same time, the circulating supply is approximately 50,563,767,827 XRP.
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