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Flare Network New Dapp Will Let XRP Holders See Number of Spark (FLR) They Will Receive

As XRP holders anticipate the airdrop from Flare Network, a decentralized application (Dapp) that will give eligible users the ability to see the amount of Spark (FLR) tokens they will receive is in the works.

Recall that Flare Network released the official FLR Token Distribution Event timing on the 30th of September. The announcement states that the network’s validator code is now live and publicly available.

Read Also: David Schwartz on Why Ripple Chose Not To Pressure Customers on RippleNet to Use XRP

The announcement reads in part:

“Provided sufficient validators have taken up their role, the Token Distribution Event will take place between 24th October and 6th November. The exact date is dependent on feedback from exchanges.”

New DApp for Spark (FLR) Balance

In a recent tweet by the Flare Time Series Oracle Flare.space, it’s stated that the FIP.01 proposal that is targeted at changing the tokenomics of Flare Network is meant to greatly benefit holders.

Flare also said in the tweet that the team is currently working on a Dapp that will show XRP holders the number of FLR tokens they are eligible to receive via the network.

Flare.space tweeted, “Proposed FIP.01 will change the tokenomics of the Flare network for the benefit of the holders! We are developing a dApp that will show you how much MORE FLRs you can get. If you want to access the dApp, follow us. We will release it once we reach 2,000 followers.”

According to a blog post, FIP.01 proposal consists of a set of changes that will be made to the distribution and inflation of FLR. It’s coming with changes in payout structure and recipients of the Cross Chain Incentive Pool.

Read Also: Flare CEO Updates XRP Holders on When to Expect Spark Token Airdrop

It’s also designed to preserve existing airdrop recipients’ foundational place in the ecosystem and give newcomers equal rights.

The blog post read in part:

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“If FIP.01 is successfully passed by the community, individuals will no longer be reliant on distributions from centralized platforms. If the level of staking on Flare is anywhere near the industry average, then those who delegate will receive more Flare tokens via the new proposal than the current system.

“This proposal substantially lowers inflation and reduces the long-term supply, meaning those that participate could end up with a meaningfully larger share of the token ownership as they would have more tokens with fewer in circulation.”


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Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.
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