– Flare Network has launched its fourth monthly community airdrop for token holders.
– The Flare team chooses three random blocks during that 23-day period to calculate the average holdings of all wallets.
– FLR has plummeted by more than 90% from its all-time high, and is down more than 20% in the past seven days.
Flare Network Launches Monthly Token Airdrop
Layer-1 blockchain project Flare Network (FLR) has launched its fourth monthly community airdrop for token holders. According to the project’s website, Flare’s monthly drops can be claimed by all Wrapped FLR (WFLR) holders who have held the wrapped token for 23 days before each claim day.
To be eligible for the airdrop, WFLR holders must have held their tokens for at least 23 days prior to each claim day. The Flare team will then choose three random blocks during that timeframe to calculate the average holdings of all wallets.
Airdrop Distribution Ratio
The June airdrop distribution ratio stands at 11.0505 FLR for every 100 WFLR held. 6,120,632,297 WFLR is eligible for this month’s drop according to calculations done by the team.
Background Information on Flare Network
Flare Network aims to bring smart contract capabilities to various blockchain networks such as XRP and Litecoin (LTC). FLR tokens were first distributed in January 2021 based on a snapshot of the XRP Ledger taken in late 2020. At time of writing, it is ranked 117th by market cap and trading at $0.0144 per token.
Price Movement of FLR Since Airdrop
Since its initial airdrop on January 10th, FLR has dropped over 90% from its all-time high of $0.150073 and is currently down more than 20% in just the past seven days