The Flare team has officially released the token distribution event schedule. This implies that the long-awaited airdrop of FLR tokens to the eligible XRP holders is now around the corner.
It’s stated in an update released today via Flare’s official Twitter handle that the Flare Network validator code is now made available publicly.
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Flare tweeted, “Update: FLR Token Distribution Event timing. The Flare Network validator code is now live and publicly available.”
ℹ️Update: $FLR Token Distribution Event timing
The #Flare Network validator code is now live and publicly available.🚀
Please see the accompanying blog post for more information on the steps and timings for token distribution.⤵️#ConnectEverythinghttps://t.co/33zHJ1Pna5 pic.twitter.com/iE4OSRdAY8
— Flare ☀️ (@FlareNetworks) September 30, 2022
In the blog post that explains the token distribution timeline better, it’s stated that the availability of the Flare code repository has now made it possible for validators to onboard to the network.
According to the report, the token distribution event will play out between 24th October and 6th November 2022. However, the chosen dates still depend on the efficiency of validators, such as exchanges.
The blog post reads in part:
“We are currently working with exchanges to get them onboarded to Flare such that the distribution to token holders by exchanges is as seamless as possible.
“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.”
Additionally, the update says Flare will launch in Beta for the first 6-9 months without affecting the token economics.
The team structures the network as follows:
- Flare Foundation – 5 validators.
- Professional Infrastructure Partner 1 – 5 validators.
- Professional Infrastructure Partner 2 – 5 validators.
- Professional Infrastructure Partner 3 – 5 validators.
- FTSO validators – up to 100 validators.
According to the report, each FTSO validator may operate as a full validator. During the beta period, the combined set of validators will be defined in the codebase to bring about an effective network power of two validators.
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This chosen structure is targeted at providing room for a safe shift of validation power from the infrastructure partners to the FTSO group. This will make FTSO validators control the operation of the network validation power once the beta period ends.
“This gives FTSOs sufficient time to learn to run effective validator infrastructure or outsource this requirement, without putting the burden of launching a new blockchain directly on the FTSO set immediately.
“The validator reward, which consists of 20% of inflation, will be split 50/50 between the infrastructure partner validators and the FTSO validators. The Flare Foundation validators are unrewarded,” the Flare team added.
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