His rationale is clear: with FLR’s market cap around $1.5 billion, the upcoming launch of FXRP, and already established institutional relationships, he believes the token is positioned to massively outperform XRP in the short term.

According to “A Knowing Faith,” the remaining XRP in his portfolio is his long-term hold, intended to be held for years. He now plans to stake this XRP through the Flare Network to earn passive income, while allowing it to appreciate slowly over time. 

I just sold 35% of my $XRP bag. Essentially all of the $XRP I had left for short term sales. And put it into $FLR there is just ZERO chance that $FLR at one billion market cap with FXRP launching this month and institutional use pre established does not wildly out perform $XRP in… pic.twitter.com/YvWcSYIW8q

— A Knowing Faith (@ImmovableFaith1) August 2, 2025

In contrast, he views FLR as the “superstar of this cycle,” arguing that its multi-year consolidation triangle is nearing completion, which could signal an explosive breakout.

XRP: A Heavyweight Facing Short-Term Struggles

As of report time, XRP is trading around USD 2.80, with a market capitalization of approximately $165 billion and a 24-hour trading volume between $6 $7 billion. While XRP remains a dominant player in the crypto market, the price has struggled to stay above key resistance levels, especially the psychological $3 mark.

Recent on-chain data and whale movements have cast a bearish shadow over the asset. One major headline this week was a $175 million XRP transaction linked to Ripple co-founder Chris Larsen, which triggered speculation about insider selling. 

Coupled with falling leverage and significant net outflows, analysts now warn that XRP could fall toward the $2.50 range unless bulls reclaim higher ground above $3.17. While the long-term fundamentals remain intact, XRP’s short-term trajectory appears uncertain.

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FLR: Positioned for a Breakout

By contrast, Flare Network (FLR) is currently trading at $0.0222, with a market cap of about $1.54 billion and daily trading volume of around $15 million. Though smaller in scale, FLR has seen steady development progress and ecosystem growth. 

Its dual architecture, featuring the State Connector for cross-chain data and the Flare Time Series Oracle (FTSO, gives it a unique edge among smart contract platforms.

The highly anticipated launch of FXRP, a tokenized version of XRP on the Flare Network, is expected to unlock new use cases and boost network activity. This forms the backbone of “A Knowing Faith’s” bullish thesis. He argues that FLR’s lower market cap and imminent utility expansion make it far more attractive for short-term gains compared to XRP.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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King Karan, currently the Head of Marketing at Monerex, recently revisited his 2020 call in a video shared on July 27 via X, reminding the public of his early bullish stance on XRP, which many ignored at the time.

XRP traded at approximately $0.10 to $0.11 during most of 2020. Although it saw a modest surge in the 2021 bull market, it failed to fully align with the broader upward trend experienced by other digital assets. Still, since his call, XRP has increased by more than 2,800%, now trading around $3.16. It has not returned to the $0.10 price range since.

I told him to buy $XRP at $0.10, but he didn't listen. Now I'm telling him to buy $FLR at $0.02 before it hits $1.00

DON'T MISS OUT AGAIN!! pic.twitter.com/uRzjP8tVEn

— 𝕂𝕚𝕟𝕘 𝕂𝕒𝕣𝕒𝕟 (@KingKaranCrypto) July 27, 2025

Flare Identified as the Next Major Opportunity

Following the success of his XRP recommendation, Karan has shifted his focus to Flare (FLR), a project he believes offers similar upside potential for investors seeking exposure to undervalued blockchain platforms. 

According to him, Flare could see a 20-fold increase from its current price of around $0.024. He projects that the token could eventually reach $1, representing a gain of approximately 3,900%.

Karan’s optimism is based on Flare’s infrastructure and its unique role in the blockchain ecosystem. Flare is a layer 1, Ethereum Virtual Machine (EVM)-compatible chain designed to provide secure and decentralized access to off-chain data. 

Its key innovation is the Flare Time Series Oracle (FTSO), which delivers real-time data such as asset prices to smart contracts across different blockchain networks. This functionality enables seamless cross-chain communication, enhancing the utility of decentralized finance (DeFi) applications.

He also pointed to potential supply constraints, suggesting that a significant portion of FLR tokens will soon be locked, reducing the circulating supply. Although he did not disclose further details about this anticipated supply event, he emphasized that this could lead to upward price pressure.

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Integration With XRP Ledger and DeFi Utility

Another key factor in Flare’s potential, Karan noted, is its integration with the XRP Ledger. The Flare ecosystem introduces DeFi capabilities to XRP holders through initiatives like the Firelight protocol. Firelight enables liquid staking by allowing users to convert their XRP into a wrapped version known as FXRP. 

These FXRP tokens can be staked to generate stXRP, a yield-bearing asset. This approach aims to unlock dormant liquidity within the XRP community while drawing the attention of institutional participants.

Flare’s role as a bridge between blockchains and its push to expand XRP’s functionality positions it as a promising player in the DeFi space. With interoperability and real-world data feeds becoming increasingly vital in decentralized ecosystems, Karan’s bullish stance reflects confidence in Flare’s ability to scale adoption and utility.

Investors who missed XRP’s rise may find Flare an alternative worth considering. However, as always, such projections come with risk, and market participants are advised to conduct independent research before making investment decisions.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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The tweet read, “Some guy traded 12,000 Xrp for a bunch of FLR. He has no idea how big of a life mistake he just made. Very important to understand the time we’re in, the longevity value, and events that are to occur. Very foolish.”

This statement triggered significant reactions, both in favor and against the trade, with many expressing their views on whether it was a wise decision.

The Core Debate: XRP vs. FLR

The heart of the conversation revolves around the trade-off between XRP, a well-established cryptocurrency, and FLR (Flare), a newer project that promises to offer substantial rewards through its innovative blockchain technology. The individual in question traded 12,000 XRP for an unspecified amount of FLR tokens, prompting critics to question whether such a decision could be financially prudent.

One side of the argument supports the long-term potential of XRP, a cryptocurrency developed by Ripple Labs. XRP has been a dominant force in the crypto market, often positioned as a key player in cross-border payments.

Its community, known as the XRP Army, is vocal and dedicated, with many believing that XRP’s value will increase significantly in the coming years due to its adoption by financial institutions. For these supporters, selling XRP now, especially for a relatively new token, is seen as unwise.

However, there are those who see significant potential in FLR, especially due to its focus on smart contracts and interoperability between different blockchains.

Flare, the native blockchain of FLR, aims to unlock value from non-Turing complete assets like XRP by bringing decentralized finance (DeFi) capabilities to them. This proposition has attracted some crypto investors who believe FLR could offer greater rewards in the long term compared to XRP.

Reactions from the XRP Army and the Crypto Community

Micah XRP, a crypto enthusiast and respondent to the original tweet, took the opposing view. Micah’s argument centered on FLR’s potential to generate passive income for holders, a key selling point for many in the Flare community.

By staking or participating in Flare’s network, holders of FLR can potentially earn rewards while waiting for the value of their holdings to appreciate. This contrasts with XRP, which, despite being a high-profile cryptocurrency, has not seen the same level of appreciation over the years as some of its peers.

Another user, JohnnyFlacko, responded more critically, casting doubt on XRP’s long-term prospects. He said, “Lol, maybe in 10 years you can take profits at $1 XRP. You XRP holders are delusional, unbelievable. Ppl are waiting for more than 6 years and can’t accept that their investment in XRP was a mistake. Just move on and don’t marry your bags.”

His comment reflects a broader sentiment among some traders who feel the digital asset has underperformed compared to other cryptocurrencies, such as Bitcoin and Ethereum. These critics argue that XRP holders have held on to their investments for too long, missing out on other opportunities in the crypto market.

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Long-Term vs. Short-Term Thinking

The debate highlights a key division in cryptocurrency investment strategies: long-term holding (or “HODLing”) versus short-term trading. Many XRP holders have held onto their investments for years, banking on the expectation that regulatory clarity, partnerships, and the adoption of Ripple’s payment solutions will drive the price of XRP significantly higher in the future. For them, XRP represents a long-term bet on the transformation of the global financial system.

On the other hand, advocates of FLR argue that Flare offers more immediate opportunities, including passive income and participation in a nascent but rapidly evolving ecosystem.

While XRP has been around since 2012 and has established itself in the market, FLR, as part of the Flare Network, represents a newer and more speculative venture. However, its supporters believe the rewards could be much higher, especially as the DeFi space grows.

Whether trading 12,000 XRP for FLR was a right or wrong decision depends largely on one’s investment philosophy and outlook on the cryptocurrency market. As with any investment, the success of the trade will ultimately depend on the performance of both XRP and FLR in the coming years.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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The distribution was specifically targeted towards users who had a minimum balance of 10 XRP in their Binance.US account at the time of the snapshot on December 12, 2020. These eligible users were allotted 15% of their claimable FLR tokens on October 25, following a distribution ratio of 0.1511 FLR per XRP.

We’re thrilled to announce that the @FlareNetworks airdrop for $XRP holders is finally here! #BinanceUS has successfully airdropped FLR on 10/25 at 10 a.m. ET to $XRP holders with a balance of ≥10 XRP during the snapshot on 12/11/20.

Learn more: https://t.co/XMLpkD6NHD pic.twitter.com/YDA9vzG06W

— Binance.US (@BinanceUS) October 25, 2023

Read Also: Flare Founder Highlights How XRP Lawsuit Impedes Ripple Products Development

With this announcement, Binance.US has enabled users to withdraw their FLR tokens. However, it is important to note that the exchange currently does not support deposits or trading activities for FLR.

The decision on whether to support the buying, selling, or trading of FLR on the platform is still pending, and Binance.US has emphasized that supporting the airdrop does not automatically guarantee the listing of FLR.

Impact on FLR Price and Trading Volume

Since the completion of the Flare token airdrop, the price of FLR has experienced a notable surge of 3% in the past 24 hours. However, the trading volume for the token has seen a decline. At the time of writing, FLR is trading at $0.0096.

The decrease in trading volume can likely be attributed to multiple factors. Firstly, many users are still in the process of waiting to withdraw their FLR tokens from Binance.US and other exchanges. Secondly, there may be a sense of caution among users regarding trading FLR due to the uncertainty surrounding its future listing on Binance.US.

Read Also: Flare (FLR) Announces New Batch of Airdrop Available to Claim for XRP Holders: Details

Future Outlook

The completion of the Flare token airdrop by Binance.US marks a significant milestone for the Flare Network project and the XRP community. The Flare token (FLR) is expected to play a vital role within the Flare Network ecosystem, enhancing functionality and utility.

As users begin to navigate the withdrawal process and make decisions regarding trading FLR, the evolution of the token’s price and trading volume will be closely watched. It remains to be seen how the market will respond to the airdrop completion, as well as the eventual decision by Binance.US regarding support for FLR trading on its trading platform.

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Uncertain Future Prompts Rush for Airdrop Campaigns

Many projects see early 2021 as the last chance to execute successful airdrop campaigns for XRP token holders, fearing probable penalties from the US government, such as the suspension of the XRP Ledger or a significant financial settlement against Ripple.

The aftermath, however, portrays a dismal image, with most social media accounts affiliated with airdrops either going dormant or disappearing outright. Some ads claimed to assist charity organizations, while others may have exploited celebrity photographs without authorization or used dubious marketing methods.

Read Also: Flare (FLR) Announces New Batch of Airdrop Available to Claim for XRP Holders: Details

Flare (FLR) Airdrop: A Promise That Failed to Deliver

Flare, with its grandiose goals, carried out the largest XRP airdrop in history. However, the long-awaited airdrop, which occurred in January 2023, did not live up to the initial hype.

Based on a snapshot taken in December 2020, when the SEC had just filed its lawsuit, Flare’s airdrop allocated 1 Flare token (FLR) for every 1 XRP held by users. Flare initially traded above $0.04, giving in a $170 million perceived gift to the XRP community. Unfortunately, the FLR price immediately fell as airdrop recipients sold their tokens at any available price.

FLR has struggled to recover since then, currently trading 90% below its initial day of trading. Notably, Flare has diluted the quantity of FLR tokens, reducing original holders’ holdings from 4.28 billion to 18.9 billion circulating FLR tokens.

Furthermore, Flare abandoned its initial aim to develop decentralized finance (DeFi) software using XRP in favor of becoming a Layer 1 blockchain and Oracle network. Although there was a rise of interest in FLR during Flare’s snapshot in January 2021 and the accompanying airdrop in January 2023, interest has since dropped to new lows.

Read Also: XRP Community Accuses Flare Team of Manipulating Voting Process on Proposal To Change Initial FLR Airdrop Plan

Other Airdrops to XRP Holders: A Similar Pattern Emerges

Most XRP airdrops have followed a similar pattern to Flare, failing to deliver on their initial promise. As an example:

XPcoin (XP) Airdrop by xpmarket Validator

xpmarket validator initiated an airdrop campaign in January 2022, delivering XPcoin (XP) to everyone who signed into its website or scanned a code using the Xumm app. The airdrop, however, was a failure, and the value of XPcoin is now stated as $0 on its own website.

XRP Healthcare’s (XRPH) Planned Roadmap

In Q4 2022, XRP Healthcare planned to airdrop its token, XRPH, as well as standalone XRPH wallets. XRPH saw variable price movements after joining Twitter in September 2022, reaching a high of $0.228 and a low of $0.18 on February 10, 2023. The token’s current price is around $0.044 as of July 3, 2023, with a fully diluted valuation of $4,454,002. It reached an all-time high of nearly 30 cents on March 9, 2023.

XNET Airdrop

XNET, for example, planned to take a snapshot of the XRP network on January 12, 2024, and then airdrop XNET tokens to XRP holders on March 20, 2024. Although XNET initially peaked at $4 on November 28, 2022, its current price is $0.035, representing a 99% drop with a fully diluted valuation of around $849 million.

CORE and XCORE Airdrops by Coreum

Coreum executed a snapshot on March 24, 2023, with airdrops set for April 1, June 1, August 1, and November 1, 2023, with the CORE airdrop planned for XRP holders. Coreum also planned an XCORE token airdrop on May 15, 2023. CORE’s value has dropped by 82% to around $0.12 as of July 3, 2022, from a peak of slightly over $0.69 on its launch day, March 7, 2022. The project is presently valued at $59 million when completely diluted.

Read Also: Coinbase Sued for Refusing to Airdrop Songbird (SGB) and Flare (FLR) to XRP Holders

Vagabond (VGB) Airdrop

Vagabond (VGB) took a snapshot of XRP investors upon its inception in November 2021 and witnessed an all-time high of more than $75, boasting a market capitalization in the billions. However, VGB has now dropped by 99% and now trades below $0.01, with a market valuation of less than $1 million.

These examples show that airdrops to XRP holders frequently result in poor results. Most projects have an initial boom during their first week of trade, followed by a dramatic decrease.

Finally, the history of XRP airdrops demonstrates the problems that projects intending to use this distribution mechanism confront. While they originally held great potential for encouraging adoption, the reality has been disappointing. Crypto fans must carefully evaluate the viability and long-term potential of initiatives that rely on airdrops to draw attention and establish a dynamic community.

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According to the report, users can claim their tokens by connecting their wallets to the Flare Portal or setting up auto-claiming.

Read Also: XRP Community Accuses Flare Team of Manipulating Voting Process on Proposal To Change Initial FLR Airdrop Plan

Flare tweeted, “FlareDrop.03 is now available to claim for all Wrapped FLR (WFLR) holders. To claim your tokens, connect your wallet to the Flare Portal or set up autoclaiming.”

FlareDrop.03 is now available to claim for all Wrapped FLR (WFLR) holders.

To claim your tokens, connect your wallet to the #Flare Portal or set up autoclaiming.

For more, check instructions in the #FlareDrop guide. https://t.co/RkNHMtaLST#ConnectEverything pic.twitter.com/wbOCMXsSqv

— Flare (@FlareNetworks) May 16, 2023

History And Statistical Distribution of Flare (FLR) Airdrop 

FLR token airdrop kicked off on January 9. The airdrop was for XRP holders who participated in the snapshot in December 2020. Statistical data records that the initial stage of FLR tokens distribution witnessed over 4.279 billion Flare (FLR) tokens dispersed among Countless addressees. Beneficiaries of the FLR first phase airdrop include users on UpBit, Kucoin, BitBank, Bithumb, Binance, OKX, Kraken, etc.

During the initial phase of the FLR airdrop, the XRP community benefited from 15% of the total FLR tokens supply at a ratio of 1.0073 FLR per XRP. Subsequently, Flare launched 36 different monthly FlareDrops that amounted to 24.2 billion claimable FLR coins for users who already have their FLR tokens wrapped up.

Read Also: Coinbase Sued for Refusing to Airdrop Songbird (SGB) and Flare (FLR) to XRP Holders

There will be 35 different distributions of 676,040,637 FLR coins and one final distribution of 584,760,871 FLR tokens in the 36th month. This distribution pattern started on 17th March 2023. The tokens are claimable after every 30 days.

In another development, a new auto-claiming feature, which allows users to claim FLR tokens without user input, was launched on Flare.

XRP Ledger Reaches Milestone In Number of Minted NFTs

In just six months after the XLS-20 proposal went live on the mainnet, a move that brought Non-Fungible-Token (NFT) functionality to XRP Ledger (XRPL), RippleX has recorded over 1.3 million minted NFTs. Over 740,000 offers to buy NFTs have been accepted on the XRPL, making XRPL rank among the top blockchains for NFTs transactions and sales volume.

Also, there are presently more than 5,000 total issuers and hundreds of varying NFTs collections cutting across different use cases ranging from shows and ticketing to music and IP access rights.

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At the time of writing, more than 50% of all votes cast on the Flare Improvement Proposal 01 are in support of the recommended change. By implication, out of the total vote count of 1,026,255,049, a total of 976,896,370 are in support while those against equal 49,358,679 only, at press time. This has raised eyebrows in the XRP community. 

Consequently, a certain community member OZCrypto pointed out per a Wednesday thread that Flare Networks is colluding with Flare Time Series Oracle data providers to manipulate the FIP.01 voting results by incentivizing them. More so, he published the transaction details that showed a delegation of millions of wrapped FLR (WFLR) tokens to these FTSOs to boost their voting power on the proposal. 

OZCrypto added that 83 million Wrapped Flare (WFLR) each were delegated to two FTSOs – Fat Cats and a non-whitelisted FTSO by the Flare team. “Fat Cats is one of those, also ‘unnamed’ means not yet whitelisted by Bifrost or Flare Metrics. Hugo bought the single most expensive NFT ever from Fat Cats back on Songbird. So just to round this out. Flare sent MILLIONS of FLR that ended up in ‘potential colluder’ ftsos,” he stated. 

It seems there may be a number of 'mistakes' #flarenetwork here are the key events for this wallet.
1 Opened by a Flare 7 days before TDE
2 Sent 30 MIL FLR 3 days before TDE
3 Sent 100 FLR to 2 new FTSOs 13/1
4 Receives a further 133 MIL WFLR From the same Flare Wallet 16/1 1/? pic.twitter.com/ETlPAfqqE7

— OZ CRYPTO (@OZCRYPTO2) January 25, 2023

But in defense, a top FTSO data provider Flare.Space refuted OZCrypto’s claims, stating that “FTSOs did not move the needle.”

On the other side, 1,368 with less than 250,000 WFLR and 30 with more than 250,000 WFLR voted against the proposal. In total 23 wallets with more than 25,000,000 WFLR ($ 1M) voted so far, all except one were in support for the proposal. So FTSOs did not move the needle.

— flare.space (@flare_dot_space) January 24, 2023

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

Issues Surrounding FIP.01

The FIP.01 proposal which aims to widen FLR distribution and reduce inflation is very critical to the handling of the remaining 85% of the FLR token airdrop to qualified XRP holders. FIP.01 was submitted by the Flare Networks team in October and voting on the proposal is underway. Notably, the voting will end on January 27, 2023.

Flare Networks plans to modify the initial airdrop plan if proposal FIP.01 passes governance voting. That is, instead of distributing the remaining 85% of the FLR token airdrop like the finalized 25% token disbursement to eligible XRP holders, the team wants to give the remaining 24,246,183,166 FLR, monthly in uniform increments, over 36 months to airdrop recipients that will wrap their FLR tokens. 

Of course, the majority of the XRP community members including Ripple CTO David Schwartz would naturally not support the proposal. But Flare Networks CEO Hugo Philion noted that the intended change is critically important for the long-term success of Flare.

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The charges leveled against Coinbase include breach of fiduciary duty, intentional misinterpretation fraud, negligent misrepresentation, constructive fraud, conversion, common count, negligence, and violation of unfair competition law among others. 

Dallas Woody, an XRP digital token holder, filed this class action lawsuit against Coinbase and its Chief Executive Officer Brian Armstrong on Friday, individually and on behalf of all others similarly situated.

In 2020, the Flare Networks team promised FLR airdrop to XRP holders whose balances were recorded at the time of the December 2020 snapshot exercise. Likewise, the team also announced its plans to airdrop another token Songbird (SGB) to XRP holders in July 2021. XRP holders eligible for the SGB airdrop are those who were part of the FLR airdrop snapshot in December 2020.

The long-anticipated FLR airdrop was finally released on January 12 after two years to several supporting crypto exchanges including Binance and Coinbase to distribute to their qualified users. But following the amount of FLR tokens airdropped to eligible XRP holders, several XRP holders including Ripple CTO David Schwartz frowned at the Flare Networks team.

Related: Ripple CTO David Schwartz: There Is No Remaining FLR Airdrop Balance For XRP Holders Anymore

Notably, while Binance and other exchanges have completed the distribution of the FLR and SGB airdrops to its eligible users, the U.S.-based crypto exchange Coinbase is yet to do so. As earlier reported by Timestabloid, most supporting exchanges disclosed that the FLR airdrop will be distributed to qualified users within two weeks of the FLR Token Distribution Event (TDE). 

But Coinbase said that it would issue the FLR airdrop tokens within the first half of 2023, adding that FLR trading will be available to only its supported jurisdictions excluding Germany, Japan, New York, and Singapore. 

Concerning the Songbird (SGB) token airdrop, Coinbase has been mute too. This compelled an XRP holder named Preston Newsom to launch a petition against the popular U.S.-based crypto exchange in November 2022.

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The XRP Ledger co-architect, who claimed on Thursday that the Flare team ditched the XRP community after leveraging the community’s large number to go mainstream remarked today that there is no remaining FLR airdrop for the qualified recipients. 

FLR Airdrop Controversy 

Flare is a blockchain platform that enables the building of applications that uses data from other chains and the internet. On January 9, the team finally executed the long-awaited FLR airdrop Token Distribution Event, where roughly 4.279 billion Flare (FLR) tokens were distributed in total to millions of eligible XRP holders with the support of several crypto exchanges. 

Notably, the amount distributed represents only 15% of the promised FLR tokens to the airdrop recipients. Although there are remaining 24,246,183,166 FLR tokens to be airdropped, concerns have risen from individuals like David Schwartz as the Flare team plans to change the initial promise to the XRP community if proposal FIP.01 passes. 

As disclosed by the Flare Networks team, “voting on the proposal will take place when 66% of the initial tokens that are eligible to vote are in the hands of their intended recipients and can be used to vote.” 

Noteworthy is that if voters support proposal FIP.01, the remaining raindrop tokens, amounting to 24,246,183,166 FLR, to XRP holders will now be issued monthly in uniform increments, over 36 months only to those that wrap their FLR tokens. 

It is on these grounds that a user wrote, “I think the XRP community were promised an airdrop 1:1 over a time period i.e. 15% initially. Does the XRP community still get it automatically or must they now wrap the FLR to get the remaining airdrop balance?”

Ripple CTO David Schwartz then replied saying, “there is no remaining airdrop balance anymore. You just get the 15%. If I promise you two cows, I can’t give you one cow and tell you to get it pregnant for the “remaining balance”.

There is no remaining airdrop balance anymore. You just get the 15%. If I promise you two cows, I can't give you one cow and tell you to get it pregnant for the "remaining balance".

— David "JoelKatz" Schwartz (@JoelKatz) January 12, 2023

Another community member countered Schwartz, citing that if the proposal doesn’t pass then the remaining 85% airdrop balance will be distributed as initially promised by the Flare team.

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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.”

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. 1/3

— David "JoelKatz" Schwartz (@JoelKatz) January 12, 2023

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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