What Is Flare Netwok (FLR)? Complete Guide & Review About Flare Network

What Is Flare Netwok (FLR)? Complete Guide & Review About Flare Network

What Is Flare Netwok Coin (FLR)?

Flare Netwok is an EVM-based Layer 1 blockchain designed to allow developers to build applications that are interoperable with blockchains and the internet. By providing decentralized access to high-integrity data, Flare enables new use cases and monetisation models.

Coin BasicInformation
Coin NameFlare Netwok
Short Name(ACRIA)
Max Supply140,000,000
Total Supply140,000,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Official Project WebsiteClick Here To Visit Project Website

Unleash the full potential of blockchain

Use Flare Netwok Coin robust interoperability and pricing protocols together with scalable EVM based smart contracts to expand the reach and value of your product. Build on Flare with more data than ever before, or build with Flare to serve multiple ecosystems.

What makes Flare unique?

Flare Netwok native interoperability protocols, the State Connector and the FTSO are secured by the network itself, allowing it to reliably deliver data from a wide variety of off-chain sources in a decentralized way.

The Flare Time Series Oracle delivers highly-decentralized price and data feeds to dapps on Flare, without relying on centralized providers.

The State Connector protocols enable information, both from other blockchains and the internet to be used securely, scalably and trustlessly with smart contracts on Flare.

Risk is minimized by building this decentralized data infrastructure natively into the blockchain, powered by a large number of independent data providers.

By incentivizing sets of independent providers to query, acquire, and process data without relying on single, centralized sources, Flare’s core protocols can facilitate the development of interoperable dapps with a broad range of potential innovative use cases.

Flare Time Series Oracle

Acquire decentralized time series data. The FTSO is an oracle network that delivers reliable and decentralized data to applications on Flare.

What is the Flare (FLR) token used for?

FLR is the native token used for payments, transaction fees to prevent spam attacks and staking in validator nodes. FLR can also be wrapped into an ERC-20 variant, WFLR. WFLR tokens serve various functions; they can be delegated to FTSO data providers, for example, or staked to participate in governance. These two uses are not mutually exclusive and do not prevent the tokens from being used in other EVM-compatible dapps and smart contracts on Flare.

Wrapped Flare Netwok Coin (WFLR) can be minted by depositing native FLR tokens into a smart contract and withdrawing the newly minted WFLR.

Flare’s Governance

Excluding the testnets Coston and Coston2, Flare currently has two networks: Flare and Songbird. Moreover, two kinds of proposals are planned, depending on who initiates them: those proposed by the community and those proposed by the Flare Foundation.

This situation leads to four types of proposals, of which only two are currently supported and detailed next.

How many FLR tokens are in circulation?

Genesis of Flare Netwok Coin mainnet occurred on 14 July 2022, followed by the public token distribution event (TDE) on 9 January 2023.

Total available supply at genesis was 100 billion FLR, of which 12 billion FLR were in circulation immediately after TDE.

The public token distribution continues for 36 monthly installments providing a total of 28,524,921,372 FLR to the community.

Flare is an inflationary network with 10% of circulating supply minted in year 1. These freshly minted FLR are provided to Flare Time Series Oracle data providers and the token holders that delegate to them (70%) to secure the decentralized provision of price data to the network, validators (20%) and State Connector attestation providers (10%).

Who are the founders of Flare (FLR)?

Flare was founded by Hugo Philion, Sean Rowan and Dr Nairi Usher, now CEO, CTO and Chief Scientist, respectively. They met while studying machine learning at University College London, sharing an interest in distributed systems and their potential applications.

Where can buy Flare (FLR)?

Flare (FLR) is currently trading on a number of exchanges, with cryptocurrency and stablecoin pairs available.

What Is Flare Netwok (FLR)? Complete Guide & Review About Flare Network
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