Bitfinex distributes Flare (FLR) Airdrop to XRP Holders

As a follow up to our previous announcement, Bitfinex is pleased to announce that Ripple (XRP) holders on Bitfinex were distributed the Flare (FLR) token on 10/01/2023 from 00:00 am UTC, based on XRP balances held by Bitfinex customers, as per a snapshot taken on 12/12/2020 at 00:00 am UTC.

The methodology for determining a “settled” balance is described in this previous post.

The total amount of tokens that Flare Network has allocated for public distribution is 28,524,921,372 FLR. This equates to a ratio of 1.0073 FLR for every 1.0000 XRP held at the time of  the snapshot. The first 15% of these tokens were distributed on 10/01/2023 at 00:00 am UTC, with Bitfinex customers receiving 0.1511 FLR for every 1.0000 XRP held. 

Bitfinex will credit the airdrop directly in this first distribution phase, and customers do not have to take any further action.

The remaining 85% distribution mechanism will be determined by community vote as per the Flare Distribution, Inflation and Incentive Pool Proposal (FIP.01). ​​Details on the remaining distribution of FLR tokens will be announced when they become available.

More details on Flare can be found here.