Remember the good old days when you happened to own a crypto token like XRP and all of a sudden you got news that your tokens were going to bag you a phat bonus?

I remember this one. Ahh the good old days!

The Flare token airdrop was a distribution of FLR tokens to eligible holders of XRP and other supported assets. It launched in two phases:

Phase 1: Snapshot and Initial Airdrop (January 2023)

• A snapshot of XRP balances was taken on December 12, 2020.
• Holders of XRP in cold wallets such as Ledger or those holding XRP on participating exchanges like Coinbase, Kraken, and Uphold received an initial distribution of 15% of the total FLR supply based on their XRP holdings at the time.
• This aimed to reward early supporters of the XRP ecosystem and introduce them to the Flare Network.

Phase 2: FlareDrops (March 2023 - January 2026)

• The remaining 85% of the FLR supply is being distributed through ongoing monthly "FlareDrops".
• To be eligible for FlareDrops, users need to hold "Wrapped FLR" (WFLR), which is essentially FLR tokens wrapped onto other blockchains like Ethereum.
• The amount of FLR received each month depends on the user's relative share of WFLR in circulation during a 23-day snapshot period.
• FlareDrops will continue for 36 months, with the final distribution in January 2026.

So you can still earn free FLR tokens by buying FLR and wrapping them using the Flare Portal or the Flare Oracle even without holding XRP now.

Background and Purpose:

Flare Network aims to bring smart contracts and DeFi capabilities to blockchains like XRP that lack them natively. The airdrop served several purposes:

• Reward XRP holders: Early XRP supporters received free FLR as an incentive for participating in the new network.
• Bootstrapping the Flare ecosystem: Distributing tokens encouraged users to explore the Flare Network and its applications.
• Decentralization: The airdrop helped distribute FLR tokens widely, promoting a more decentralized network ownership.

It's important to note that the airdrop is now in its FlareDrop phase, so users holding XRP at the initial snapshot won't receive any further tokens unless they participate in the Flare Network by wrapping their FLR.

So there you have it, those who held XRP back in the day got a big bonus just for holding. I hope there will be more like this coming our way. But for now, keep your eyes peeled for opportunities like the FLR Airdrop which was big news back then. FOLLOW ME and be sure I will tell you!

To connect to the FLR portal or the FLR oracle you can use Metamask or a Ledger Wallet with the ETH App installed. You can add a FLR account to your Ledger Live app using the add an asset. FLR can be purchased on Uphold or Binance and sent to your FLR address...

The End.

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