Flare network: Common questions
The time has finally come! The FLR distribution is happening and we couldn't be happier to announce that just in time for the FLR distribution we implemented support for the Flare Network in Atomic Wallet. Keep reading to find out whether you qualify for the Flare airdrop and what exactly you need to do to get your tokens.
- What is Flare network?
- How does the airdrop work?
- Am I going to get Spark tokens?
- When will I get my FLR tokens?
- How do I get my FLR tokens?
What is Flare Network?
Flare is a distributed network, first and foremost. Its features allow for the creation of two-way bridges with such networks as Ethereum and XRP. What it does is that it allows XRP tokens to be used with smart contracts.
The native token of this network is Spark. Some portion of the supply will be airdropped to XRP holders if they held XRP in a wallet or a centralized platform that supported the airdrop. Its main function is similar to that of native tokens on other chains - to protect the network from spam. It is also used for governance and as collateral for DApps.
How does the airdrop work?
The rules of the airdrop are very simple. FLR will be airdropped to everyone who held XRP on their address as of December 12th, 2020. The more XRP you held, the more FLR you will have received. In order to check who held XRP and in what amount at the time, the developers used a snapshot.
Snapshot, in a broader sense, means a record of a computer system's state at a certain point in time. When it comes to crypto, a snapshot is basically a record of the state of a blockchain on a particular block height. With FLR, it was a snapshot of the XRP Ledger, taken on December 12th, 2020. If you did not have any XRP on your address at the time, you won't be getting any FLR, unfortunately.
In order to claim your FLR, you needed to provide your ETH address (since FLR is an EVM-like system, so your ETH address would match your address on the FLR network). If the snapshot confirms that you had XRP on your address and you provided the proper ETH address, you are eligible. Deadline for claiming these tokens expired on June 11th, 2021.
Prior to the snapshot taking place, Atomic Wallet had a special feature that would allow you to apply for the airdrop and claim your FLR. All you needed to do was to press a certain button in the wallet. It would automatically submit your ETH address and make you eligible for the airdrop. You won't find this feature in the wallet now, since the deadline for claiming was on June 11th, 2021.
Token distribution has been calculated based on a snapshot of XRP holdings taken on December 12, 2020, as mentioned above. For every qualifying 1.0000 XRP in the snapshot, 1.0073 FLR will be distributed.
Am I going to get Spark tokens?
Since it's been a long time since you actually had to claim your Spark, you might not remember if you claimed them or not. Luckily, the blockchain does not forget such things (or anything for that matter). You can easily check if you have any Spark tokens coming your way.
- Go into your wallet and find your XPR address;
- Go to xrpscan.com;
- Paste your address in the search bar in the top right corner;
- You'll be presented with your Account Summary. Navigate to the 'Flare' tab down below;
Here you'll be able to see how much FLR you are eligible to receive. The same goes for SGB, by the way.
When will I get my FLR tokens?
The first 15% of the total distribution amount was airdropped on 9 January 2023 (at a rate of 0.151095 FLR for every 1.000000 XRP). 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.
More information about the airdrop and voting is available here.
How do I get my FLR tokens?
Now that Atomic Wallet supports the FLR network, you don't need to do anything! You'll see your tokens in the wallet as soon as you've received some.
If you don't see your FLR, do the following: