Bittrex Global is supporting the distribution of Flare’s native Flare (FLR) token and will list FLR for trading on 6 July 2023.
The Flare Network is a decentralized network that brought full smart contract functionality to the XRP ecosystem. Flare is the first Turing complete Federated Byzantine Agreement network, incorporating the Ethereum Virtual Machine. This means that any existing Ethereum application can be deployed on Flare, including Decentralized Finance.
The native currency of the Flare is the FLR token. With Flare's seamless integration and robust functionality, users can enjoy efficient and secure transactions while benefiting from a diverse and thriving DeFi ecosystem.
For more information, see: https://flare.network/flare-tokenomics/
Flare is being distributed to Bittrex Global customers who had an XRP balance at 00:00 GMT on 12 December 2020. This XRP balance dictated the amount of Flare that Bittrex Global received on behalf of its customers. Bittrex Global will distribute all Flare tokens to its underlying XRP holders as per the following equation:
Number of FLR obtained by Bittrex Global users = Number of FLR obtained by Bittrex Global * Percentage of user holdings.
Percentage of user holdings = the number of XRP owned by a user/ the total number of XRP holdings of Bittrex Global.
The Flare token will be distributed within 2 weeks of the FLR listing date (6
July 2023) on the platform.
Bittrex Global took the following steps in preparation for the snapshot event:
- Disabled XRP wallets and markets: Friday 11 December 2020 at 23:40 GMT
- Took XRP snapshot: Friday 11 December 2020 at 23:50 GMT.
- Enabled XRP markets and wallets: following snapshot.
We would like to thank the Flare Network team for working closely with us!