The Flare Token Distribution Event (TDE) is quickly approaching. These FAQs explain how Flare (FLR) will be distributed, when and how you can vote on Flare Improvement Proposal 01 (FIP.01), and how you might be affected by receiving your airdrop on exchanges that plan to delay the distribution.
The Flare (FLR) token distribution will commence on January 9, 2023.
How big is the token distribution?
The total public token distribution is 28.5B FLR. 15% will be distributed on January 9, 2023, and the remainder will be distributed every month thereafter for 36 months. To learn about the total circulation, allocations, and more, see Flare Tokenomics.
How many tokens will I receive when the airdrop occurs?
The total distribution has been calculated based on a snapshot of XRP holdings taken on December 12, 2020. For every qualifying 1.0000 XRP in the snapshot, 1.0073 FLR will be distributed. The TDE on 9 January 2023, will airdrop the first 15% of that amount. At that time, you will receive 0.151095 FLR for every 1.000000 XRP you had in the snapshot.
When will I receive the rest of my portion of the token distribution?
The remaining 85% of the tokens will be distributed in 36 monthly installments. The method of distribution depends on the outcome of the community vote on Flare Improvement Proposal 01 (FIP.01):
- If the community accepts the proposal, the remaining 36 monthly distributions will be carried out on-chain in a decentralized manner. Tokens will be shared among wallets that have wrapped FLR tokens (WFLR).
- If the community rejects the proposal, the same self-custody wallets and the same centralized exchanges that received the first airdrop will receive one airdrop per month for 36 months.
Is this token distribution only for XRP holders?
If Flare Improvement Proposal 01 (FIP.01) is accepted, anyone who holds wrapped FLR (WFLR) will receive a share of the token distribution, not just those who held XRP when the snapshot was taken.
When can I vote on Flare Improvement Proposal 01 (FIP.01)?
Voting on FIP.01 will begin after 66% of the initial 15% of FLR tokens are distributed. Because we have coordinated with the exchanges that will distribute FLR, we expect you to be able to vote in February.
How do I vote?
The exchange where I will receive my FLR airdrop plans to delay the distribution. How will I be affected?
Voting on Flare Improvement Proposal 01 (FIP.01) will begin after 66% of the FLR tokens are distributed, and this threshold might be reached before your exchange distributes FLR to its customers. This scenario could affect you in the following ways:
- You might not be able to vote on FIP.01.
- If FIP.01 is approved, you will be excluded from any on-chain monthly distributions that happen before you receive your tokens.
- Your portion of these monthly distributions will be shared among all other FLR token holders who have already wrapped their tokens.