Ripple CTO David Schwartz: Flare (FLR) Networks Used and Abandoned XRP Community

The long-awaited FLR token airdrop was finally distributed to eligible XRP holders on January 12 after two years of waiting. Following the amount of FLR tokens airdropped, Ripple Chief Technology Officer David Schwartz frowned at the Flare Networks team.

Per a thread, David Schwartz suggested that the FLR token team took advantage of the large-sized XRP community to gain popularity but dumped the community afterward. These claims from the Ripple CTO come as the team changed their promises regarding the airdrop supply. 

David Schwartz wrote, “I feel bad saying this. I love the project and want the best for it and want to believe the best about it. But my honest opinion is that they leveraged the XRP community to grow and weakened their promises drastically when they felt they didn’t need it anymore.

“That said, that does not make them dishonest or make their project a bad one. XRP evolved and didn’t keep some ‘promises’ made in the early days. You can love Flare and love XRP too. It’s not one or the other. But I don’t have happy fuzzy feelings about how it went down,” he added. 

The XRP Ledger co-creator also noted that the Flare Networks team only intended to give 15% of what they promised eligible XRP holders, citing that selling off FLR is more beneficial than holding. 

He wrote, “the current Flare holding rules for subsequent airdrops leave absolutely no incentive not to sell your Flare now. You lose nothing if you sell now.

“While it’s true you won’t get the subsequent airdrops, you do not lose them. You get 100% of their value when you sell your Flare since the buyer can wrap that Flare and get the airdrops.”

“This seems like a very strange decision to me. Honestly, the only way I can explain it is that they simply didn’t want to keep their commitment and instead wanted to only give 15% of what they promised. I want to be wrong, but I don’t see how.”

Read Also: Coinbase Fully Set To Distribute FLR Token Airdrop To Eligible XRP Holders: Details

It is worth noting that the Flare team plans to modify the initial airdrop plan if proposal FIP.01, launched in October 2022 passes governance voting. While the initial airdrop distribution methodology was not altered, the proposal reveals that the distribution of the remaining 85% airdrop balance to qualified XRP holders would likely be changed, depending on the voting outcome.  

As stated in the proposal, the possible change to the initial plan is that the remaining 24,246,183,166 FLR airdrop tokens will be distributed monthly and in uniform increments, over 36 months only to those that wrap their FLR tokens, if the majority supports proposal FIP.01 when voting starts.

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