D’CENT Wallet Announcement — The Flare Token Distribution Event

D’CENT Wallet Announcement — The Flare Token Distribution Event

Hello D’CENT fam!

The Flare (FLR) Token Distribution Event commences on January 9, 2023, which will distribute the first 15% of the FLR. It is important for the users who are eligible to receive FLR tokens to fully understand the implications detailed in the Flare Improvement Proposal 01 (FIP.01) which modifies the distribution method for the remaining 85% of the FLR.

 

Flare Token Distribution

From the total distribution amount of 28.5B FLR calculated based on the snapshot of XRP holdings taken on December 12, 2020, the Flare TDE will distribute the first 15% (4.278B FLR).

 

For every 1.000000 XRP you had in the snapshot, you will receive 0.151095 FLR.

 

The distribution method for the remaining 85%

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.

 

How to vote on Flare Improvement Proposal 01 (FIP.01)

Voting on FIP.01 is expected to begin in February when after 66% of the initial 15% of FLR tokens are distributed. You can vote by using the Flare Portal. To learn more about using the Portal to vote, see voting documentation.

 

How to receive FLR token airdrop in D’CENT Wallet

To receive the first 15% of the FLR token airdrop to your D’CENT wallet, simply add the Flare token account to the wallet. This creates an FLR wallet account with the same Eth-like address that the snapshot participants have registered in the XRP ledger.

 

 

D'CENT FTSO Portal

D’CENT FTSO Portal currently supports SGB wrapping and delegation on the Songbird network only. A separate announcement will be made when the D’CENT FTSO Portal is updated to support the FLR wrapping and delegation functions to the FTSO providers on the Flare network.

 

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