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Flare (FLR) Airdrops 15% of Total Supply to XRP Holders Before Correcting by 76%

The Flare (FLR) token airdrop started on Mon., Jan. 9, nearly two years after a snapshot of Ripple (XRP) holders took place on Dec. 12, 2020. The FLR airdrop was distributed at a ratio of 1.0073 FLR per 1 XRP and the initial distribution saw 15% of the total supply released to the community.

A total of 28.5 billion FLR were distributed based on this methodology and according to Flare’s tokenomics, 58.3% of the total genesis FLR supply will be distributed over 36 months.

According to data from CoinGecko, FLR token seemingly started trading on Jan. 9, at $0.05 amidst low liquidity on MeXC exchange. After the launch, the token soared to $0.15 as exchanges like Binance, OKX and Kraken started trading the airdropped token.

Shortly after the increased liquidity arrived from more centralized exchanges (CEX) FLR token price began to crash. At the time of writing, FLR price has pulled back by 76% to $0.02 and its 24-hour trading volume sits slightly below $50 million.

XRP XRP $1.61
+9.84%
XRP Airdrop
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