A series of 36 monthly FlareDrops totalling 24.2 billion FLR can be claimed by active Flare community members who have wrapped their Flare tokens.
Eligibility criteria
- A wallet must have held Wrapped FLR (WFLR) for the 23 days before each claim day to be eligible to claim a portion of that month’s FlareDrop. These 23 days constitute the “Holdings calculation period”.
- Three random blocks are chosen during those 23 days to calculate the average holdings of all wallets. More detail on this process is in the Technical Documentation.
- The number of FlareDrop tokens that a wallet can claim in any month based on its relative share of all WFLR in circulation.
- No Flare related entity, employee or founder may use their token allocation to claim a portion of the FlareDrops.
- UPDATE (6 Nov 2023): Any FLR stake which has been delegated to validators on the P-Chain is also eligible for FlareDrops. FlareDrop allocations each month are now based on the combined total of WFLR held and FLR staked on the P-Chain during the three random blocks.
The numbers
- A total of 24,246,183,166 FLR will be split into the 36 FlareDrops.
- Tokens will be claimable at 12:00 UTC every 30 days starting on 17th March 2023.
- 67 days after each distribution, any unclaimed tokens will be burned. This is 90 days from the start of the holdings calculation period.
- There will be 35 distributions of 676,040,637 FLR and one final distribution of 584,760,871 FLR in month 36.
How to wrap your FLR tokens
- If you are holding your FLR on a centralized exchange, it is likely that you will need to move your tokens into a different wallet before you can wrap them. This could be a software wallet like Metamask or Bifrost Wallet, or a hardware wallet like Ledger, D’Cent or Safepal. Guides are available in the Flare Technical Documentation.
- If you are new to this, Bifrost Wallet probably has the easiest user experience. They have provided a simple guide for adding FLR to the wallet.
- Once you have your FLR in your wallet, you can connect to the Flare Portal to wrap your tokens into WFLR. When you do this, don’t forget to also delegate to the Flare Time Series Oracle so that you receive FTSO delegation rewards every 3.5 days.
- If you have chosen to use Bifrost Wallet, you can wrap your tokens and delegate to the FTSO natively in the app.
How to claim
- FlareDrops can be claimed using the Flare Portal by connecting a wallet that held WFLR during the Holdings calculation period.
- Bifrost Wallet offers native functionality for claiming FlareDrops, similar to the existing functionality for claiming FTSO Delegation Rewards.
- There is also the option to set up autoclaiming which will ensure FlareDrop tokens are automatically and immediately claimed in return for a fee. This will maximize compounding, save time, and avoid unnecessary exposure of a cold wallet.
- Advanced users can also claim by interacting directly with the smart contracts.