Spark (FLR)

Flare Energy

What is Spark (FLR)?

Spark (FLR) is the native digital asset of the Flare Network blockchain. FLR is a new form of programmable money that comes with two detachable votes that are used to contribute to the governance parameters of the ecosystem and the Flare Time Series Oracle (FTSO). The holders of FLR can be considered citizens of the Flare Network as they will be able to vote on proposals such as changes to the f-asset collateral ratio, inflation rate, and gas fees to name a few.

The other detachable vote of FLR is used by providing price data feeds to the FTSO by either submitting the holder’s own algorithm for price aggregation or by delegating the vote to a signal provider for a small fee. In return for providing accurate price feeds to the FTSO via the detachable FLR vote, holders within the median 50% of data estimates will be rewarded with FLR through the FTSO inflation mechanism. FLR detachable votes are represented as one per each FLR owned.

The original minted FLR supply is 100B tokens, which will be distributed via airdrop to eligible XRP holders, the Flare Foundation, and Flare Limited. The schedule for the distribution will be 15% of the original FLR supply released at launch with an average of 3% released in each following month over the course of 25-34 months to the previously mentioned parties.

It is estimated that roughly 75B FLR will be distributed to these entities during the distribution schedule with the remaining ~25B FLR being allocated to the general f-asset and FLTC rewards pools at launch. There is no max supply of FLR and the inflation rate is set at 10% of the original supply newly minted each year to be distributed through the FTSO rewards mechanism. After six months, the future inflation rate will be up for a governance vote by all FLR holders.

Earn via Spark (FLR) + FXRP

Related Posts: