The Flare Network have announced via Twitter that their incentive pool proposal, FIP.01, has been accepted, with 93% of voters in favor and a 17% turnout. The first of the 36 'FlareDrop' Distributions will be available to claim starting on 17 March 2023 at 12:00 UTC.
As the incentive pool operates in a similar way to a staking product, BTC Markets is unable to offer this service at this time due to Australian regulatory constraints.
BTC Markets customers that wish to receive future distributions of FLR tokens from the underlying network will need to move their FLR tokens to a platform that supports the wrapping and delegation of FLR tokens.
Please be advised that future FLR distributions are not only reserved for those that held XRP at the original snapshot date (as it was with the initial token distribution event). Anyone that holds flare is entitled to wrap and delegate their tokens to receive future distributions.
You can buy and sell FLR on BTC Markets: https://app.btcmarkets.net/buy-sell?market=FLR-AUD
Update: 11/01/2023 16:30 AEDT
Flare (FLR) is now live and available to trade on BTC Markets! Head to our exchange and trade FLR today!
Update: 11/01/2023 13:45 AEDT
Flare (FLR) listing is in post-only mode! You can add limit orders into the orderbook ahead of the market going live.
Deposits are available, and withdrawals will be available once the market is fully live (within 24hrs, subject to sufficient orderbook depth).
Update: 11/01/2023 13:00 AEDT
We have completed the distribution of FLR tokens to eligible clients (accounts that held an XRP balance on BTC Markets at the snapshot date - 00:00 UTC 12/12/2020). FLR holdings should now be visible in your account.
We are now preparing for the launch of FLR on our platform for trading. The market will start in post-only mode to build the order books and ensure sufficient liquidity for the market. To learn more about post-only orders, please see our help article: Post only Orders for New Listings.
Update: 10/01/2023 18:00 AEDT
We have completed the checks of the FLR token and have commenced distributing to eligible client accounts. This process should take approximately 12-24 hours.
We will advise when distribution to eligible client accounts is complete.
Update: 10/01/2023 16:00 AEDT
BTC Markets has receive the Flare (FLR) tokens from the Flare Network. Once all of our checks have been completed, we will commence the distribution to eligible client accounts (accounts that held an XRP balance on BTC Markets at the snapshot date - 00:00 UTC 12/12/2020).
Update: 10/01/2023 11:00 AEDT
The Flare Network has started their token distribution.
The Flare Network have advised that the Token Distribution Event (TDE) will begin at 23:59 UTC on the 9th of Jan 2023 (10:59 AEDT 10th of Jan 2023) and will take several hours. BTC Markets will keep customers up to date with progress via our Twitter channel.
The Flare Network have announced that the Token Distribution Event (TDE) will occur on 9th January 2023.
BTC Markets have confirmed with the Flare Network that we will distribute FLR tokens to eligible customers as soon as possible once we have received them (and within their requested two-week timeframe).
The Flare Network has announced that they are still agreeing a coordinated distribution date with participating exchanges for the initial release of 15% of FLR tokens. They have advised "a TDE around 9th January ‘23 may be deemed the optimal path for the fairest and most inclusive distribution."
BTC Markets is ready and will distribute airdropped tokens to eligible customers as soon as possible after we receive them from the network.
The Flare Network has announced an anticipated timeframe for the distribution of the initial 15% of FLR tokens. It is expected to occur sometime between 24th Oct 2022 and 6th Nov 2022, but is still subject to feedback from participating exchanges.
Once the tokens have been received from the Flare Network, BTC Markets will look to airdrop FLR to eligible clients and enable deposits, withdrawals and trading at the earliest possibility.
The Flare Network has released a proposal regarding the distribution of the remaining 85% of FLR. Clients interested in understanding more about this proposal can read the full article here: FIP.01 - Flare Distribution, Inflation & Incentive Pool Proposal"
The Flare Network is still in observation mode. The Network is yet to advise when this will be complete, and when they will airdrop the initial 15% of FLR tokens to BTC Markets to distribute to eligible clients.
Please note, the native token of the Flare Network is to be called "Flare" and will no longer be known as "Spark".
The Flare Network recently announced the Flare launch details (read about it here).
The key points from the article are:
- Week of the 4th July 2022 - Final audit of the token distribution smart contract code.
- On or shortly after 11th July 2022 - Flare’s mainnet genesis will occur and the network will launch in “observation mode”.
- Observation mode will last for a minimum of 8 weeks.
- After the 8+ weeks in observation mode, the initial token distribution of 15% will take place. After this point, BTC Markets will be able to distribute Flare tokens to our users.
The Flare Network recently announced that they are aiming to airdrop the first 15% of Flare Tokens on 4th July 2022 (read about it here).
BTC Markets are committed to distributing all tokens to eligible accounts as soon as possible after the tokens have been airdropped.
Flare (FLR), the native token for the Flare Network, has yet to be released. Once launched, BTC Markets will distribute FLR tokens to all eligible account holders*. As yet, no timeline has been provided by the Flare Network for when Flare (FLR) will be launched. We will continue to update our customers on any further information as soon as it becomes available from the Flare Network.
*eligible account holders: account holders that held an XRP balance on BTC Markets during the Flare snapshot at 12am UTC, 12th Dec 2020.