Flare Network Launched Monthly Token Airdrop

According to the latest reports, the Flare Network has just made an important move. Check out the details below.

Flare Network (FLR), a blockchain project on Layer-1, has commenced its fourth monthly community airdrop for token holders.

As per Flare’s website, all Wrapped FLR (WFLR) holders are entitled to claim the monthly drops.

However, WFLR holders must have possessed the wrapped token for at least 23 days before each claim day to be eligible for a portion of that month’s FlareDrop, as mentioned in the post.

#FlareDrop.04 is available to claim.

WFLR holdings were calculated based on blocks 9,003,865, 9,378,624 and 9,620,514.
6,120,632,297 WFLR is eligible for the drop.
The FlareDrop.04 ratio stands at 11.0505 FLR for every 100 WFLR held. pic.twitter.com/QR9b5wLGCx

— Flare (@FlareNetworks) June 16, 2023

During a 23-day period, the Flare team selects three blocks at random to determine the average holdings of all wallets. In the June airdrop, it was calculated that a total of 6,120,632,297 WFLR is eligible for the drop.

The distribution ratio for the airdrop is 11.0505 FLR for every 100 WFLR held, as per Flare’s statement.

According to the latest reports, it has been revealed the fact that the chief executive of stablecoin issuer Circle is urging the United States to maintain the competitiveness of the dollar by creating clear guidelines for stablecoins.

The online pubcalition the Daily Hodl notes the fact that the U.S. House Financial Services Committee’s latest hearing on stablecoin legislation, Jeremy Allaire says the stakes are too high to ignore and that the US must ensure the dollar is the most competitive fiat currency on the internet.

According to the reports coming from the online publication the Daily Hodl, the Federal Reserve’s lending program to support US banks is in high demand as borrowings shatter $100 billion.

“The latest data from the Fed shows that its Bank Term Fund Program (BTFP) has issued loans to the tune of $100.16 billion as of June 7th, compared to $93.61 billion borrowed the week ending May 31st.”

Stay tuned for more news from the crypto space.