Layer1 Blockchain Flare Network Releases Token Distribution Plan

Layer1 blockchain Flare Network announced its token distribution plan and tokenomics.

There are two possible versions of its tokenomics, depending on whether the Flare Improvement Proposal 01 (FIP.01) gets passed or not. The proposal has not yet been voted on, and its outcome will affect the tokens vesting and the percentage of tokens distributed to airdrops.

It is said that Flare Network will launch its native token $FLR with a total supply of $100 billion by January 9th, 2023.

• 58.3 billion $FLR allocated to the community
• 19.2 billion $FLR allocated to teams, advisors, and supporters
• 22.5 billion $FLR allocated to Flare Networks Limited and Flare VC Fund

Whether the FIP.01 proposal passed or not, both versions of tokenomics will distribute $FLR in the above amounts.

Flare Network is a Layer1 blockchain that allows Dapps to acquire and use information from other blockchains and real-world data sources safely and trustlessly. It is the first Turing complete Federated Byzantine Agreement (FBA) network. Nodes run the Avalanche consensus protocol with a key adaptation to the FBA consensus topology.

Furthermore, the network leverages the Ethereum Virtual Machine (EVM), enabling the network to run Turing complete smart contracts.