Flare Network price

in USD
$0.016060
+$0.00018000 (+1.13%)
USDUSD
Market cap
$1.12B #44
Circulating supply
69.5B / 103.64B
All-time high
$0.090000
24h volume
$6.95M
2.7 / 5
USDUSD
FLRFLR

About Flare Network

CertiK
Last audit: --

Flare Network’s price performance

3 months
+14.79%
$0.013990
30 days
-11.08%
$0.018060
7 days
-5.03%
$0.016910
Today
+1.13%
$0.015880
53%
Buying
Updated hourly.
More people are buying FLR than selling on OKX

Flare Network on socials

Flare ☀️
Flare ☀️
Bridging alone isn't value - use is. #XRPfi
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12.36K
280
Flare ☀️
Flare ☀️
The FDOGE wind down is complete. Thank you for all the support in our robust test on Songbird. Now, all eyes and hands are on FXRP.
Flare ☀️
Flare ☀️
Farewell for now 🐶👋🏻 The wind-down of FDOGE on FAssets v1.1 has officially begun! Nearly $60K in FDOGE still needs to be redeemed. Don’t wait - redeem or swap BEFORE June 21, or risk being stuck with unredeemable FDOGE. Redeem now: Or swap into other tokens on @blazeswapdex or @enosys_global.
Show original
20.43K
319
Flare ☀️
Flare ☀️
The real unlock isn't just bridging. Liquidity is idle after arrival. It's about what you can do after.
Hugo Philion ☀️
Hugo Philion ☀️
Bridges for XRP aren’t new - Wanchain built a fairly good one a while back. The reality is that once you move your XRP to another chain there needs to be sensible ways to put it to work and this is where things have stalled historically. At Flare we have been investing much of our time and effort into making sure there is a full ecosystem ready for the XRPFi wave. This includes: -Firelight; XRP staking both for AVS’s and more complex institutional financial products. - Yield markets; because if you have staking you need a market to trade the yield. - Dex’s; Sparkdex, Enosys, Blazeswap. - Lending protocols; Kinetic and soon to be neolending. - Stablecoin liquidity to support all the potential pairs against XRP. Flare is the cutting edge ecosystem ready for institutional XRP DeFi usage.
Show original
25.4K
340

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Flare Network FAQ

Currently, one Flare Network is worth $0.016060. For answers and insight into Flare Network's price action, you're in the right place. Explore the latest Flare Network charts and trade responsibly with OKX.
Cryptocurrencies, such as Flare Network, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Flare Network have been created as well.
Check out our Flare Network price prediction page to forecast future prices and determine your price targets.

Dive deeper into Flare Network

Flare Network (FLR) has garnered attention as a promising platform set to transform smart contracts and interoperability. Utilizing the Ethereum Virtual Machine (EVM), Flare Network incorporates a distinctive federated Byzantine agreement (FBA) consensus mechanism, facilitating the seamless integration of numerous blockchain networks.

What is Flare Network?

Flare Network is a decentralized network that aims to extend smart contract capabilities to blockchains that lack native support, including Bitcoin (BTC) and XRP (XRP). By incorporating the Ethereum Virtual Machine, Flare Network allows the execution of smart contracts and offers developers a familiar environment for building decentralized applications (DApps). This is achieved through a unique consensus mechanism called the Federated Byzantine Agreement, which combines the advantages of Proof of Stake (PoS) and Proof of Work (PoW) mechanisms.

The Flare Network team

The Flare Network team comprises experienced professionals and blockchain enthusiasts who share a vision of unlocking the potential of smart contracts and interoperability. Led by Hugo Philion as the chief executive officer, Sean Rowan as the co-founder & chief product officer, and Amaan Jalwa as the chief financial officer, the team includes experts in distributed systems, cryptography, and blockchain technology. Their combined expertise and dedication are instrumental in driving the development and progress of the Flare Network ecosystem.

How does Flare Network work?

Flare Network operates using the FBA consensus mechanism, which ensures secure and efficient transaction processing. This mechanism involves a subset of trusted nodes called validators, who propose and validate transactions. By employing FBA, Flare Network achieves fast transaction finality and improved scalability compared to traditional blockchain networks. Additionally, the network utilizes the Avalanche consensus protocol, enhancing security and enabling rapid confirmation of transactions.

FLR: Flare Network's native token

FLR is the native cryptocurrency of the Flare Network ecosystem, playing a crucial role in facilitating network operations and incentivizing participants. Holders of FLR can actively engage in the network's governance by voting on protocol upgrades and parameter changes. Additionally, FLR serves as collateral for creating trustless representations of Non-Turing complete tokens like Bitcoin and XRP, achieved through the Flare Time Series Oracle (FTSO) mechanism.

FLR tokenomics

FLR has a fixed supply of 100 billion tokens. The tokens are distributed through various mechanisms, including airdrops and utility-based allocations. Some tokens are allocated to the Flare Foundation to support network development. At the same time, a substantial portion is distributed to XRP holders based on their account balances during a specified snapshot period. The remaining tokens are allocated to network validators, developers, and ecosystem incentives.

FLR token use cases

FLR tokens can be staked to secure the network and earn staking rewards. FLR holders can participate in the decentralized exchange (DEX) built on the Flare Network, providing liquidity and earning trading fees. These tokens can be utilized for various decentralized finance (DeFi) applications, lending, and borrowing protocols, and other financial services within the ecosystem.

FLR token distribution

The distribution of FLR tokens is thoughtfully structured to foster broad participation and cultivate a diverse and dynamic ecosystem. The allocation of FLR tokens through airdrops and to XRP holders aims to promote widespread ownership and adoption of the Flare Network. Concurrently, setting aside tokens for validators, developers, and ecosystem incentives incentivizes active engagement and accelerates the advancement of the Flare Network's development.

The distribution is divided as follows:

  • Community allocation: 58.3 percent
  • Product development and investment: 22.5 percent
  • Flare team, advisors, and early backers: 19.2 percent

The future of smart contracts and interoperability

Flare Network stands at the forefront of innovation in the blockchain industry, offering a solution for smart contract functionality and interoperability across multiple blockchain networks. With its native token FLR serving as the backbone of the ecosystem, Flare Network is poised to drive the future of DeFi and revolutionize how we interact with blockchain technology. Flare Network continues to develop its infrastructure through quality partnerships. One of the most notable is their collaboration with Ankr, who has helped Flare Network simplify node operations and streamline the DApp development process.

Disclaimer

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Market cap
$1.12B #44
Circulating supply
69.5B / 103.64B
All-time high
$0.090000
24h volume
$6.95M
2.7 / 5
USDUSD
FLRFLR
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