Flare Network Heats Up With 66 Million $FLR Token Burn, Bringing Total to Near 400 Million

The Flare Network, a layer-1 Ethereum Virtual Machine-compatible blockchain, has significantly reduced the circulating supply of its native $FLR tokens, recently burning 66 million FLR in a move meant to reduce its supply.

Timeline of Flare

The Flare network, a layer-1 Ethereum Virtual Machine-compatible blockchain, has announced the release of a new FlareDrop, part of an ongoing series of FLR token distributions. This latest batch is now available for users who have maintained a holding of Wrapped FLR (WFLR) for a minimum of 23 days.

Flare, the Ripple-backed network, has announced a new airdrop. The network is transitioning to a staking model to decentralize validators and enhance data provision protocols. This transition is expected to open new opportunities for users to delegate stakes to validators and earn rewards. FlareDrop.

The EVM layer-1 blockchain Flare network has announced that a new batch of FLR token airdrops is now available to claim. The FlareDrop.10 Release is now available for users who have held Wrapped FLR (WFLR) for the past 23 days.

FLR, the native token of the Flare network, has seen a massive surge in the last 24 hours. On Saturday, FLR jumped from lows of $0.0145 to reach highs of $0.022, gaining nearly 40% in an instant while posting a massive green daily candlestick.

With the new development, a number of blockchains that do not support smart contracts natively can get their first programmable assets. Flare Labs released the test version of FAssets in a sandbox environment.

The Flare Reputation Score, born out of the collaboration between Flare and Bloxico, stands as a testament to the commitment to transparency, trust, and community empowerment within the blockchain realm.

The XRP Ledger-linked Flare Network has announced a new update in its journey toward transitioning to proof of stake, where FTSO data providers will take on the role of network validators.

Flare Network (FLR), a decentralized oracle service provider with a close association to Ripple Labs Inc., has announced to its community that it has gotten the needed approval for its recent proposal FIP.05. According to the update on the X app, the proposal will be implemented on the mainnet through a hardfork that is billed to go live later this month.

The crypto industry is buzzing with increased excitement after John E. Deaton, a notable pro-XRP lawyer and enthusiast, revealed the existence of an unpublished XRP letter from years ago.

In addition to its focus on risk management and liquidity solutions, aiPX, the perpetual DEX built on Flare blockchain, offers a range of features designed to enhance the trading experience for users.