As the FLR airdrop saga continues, members of the XRP community have thrown allegations at Hugo Philion, claiming that the Flare Networks founder is influencing the voting outcome of the FIP.01 proposal.
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
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.