After first saying our assist for the Flare (FLR) token distribution occasion on December 11, 2020, we’re happy to announce that eligible XRP token holders will start receiving FLR on January 10, 2023.
The snapshot of XRP balances befell on December 12, 2020 at roughly 12 am UTC (the primary validated XRP ledger with a timestamp larger than or equal to 00:00 UTC on December 12, 2020).
Kraken accounts that had an XRP steadiness on the time of the snapshot are anticipated to obtain roughly 15% of the whole FLR for which they’re eligible on January 10, 2023 following completion of the Token Distribution Occasion. At the moment, eligible shoppers will obtain 0.151095 FLR for each 1.0000 XRP they’d on Kraken on the time of the snapshot. The strategy of distribution of the rest of FLR tokens depends upon the end result of the neighborhood vote on Flare Enchancment Proposal 01 (FIP.01). Voting on this proposal is anticipated to begin in February.
Funding and Buying and selling
It is possible for you to so as to add FLR to your Kraken account by navigating to Funding, choosing the asset, and hitting Deposit. Buying and selling is anticipated to go stay January 10.
Right here’s what you have to know:
Ticker
FLR
Tradeable in opposition to
USD, EUR
Value precision
2 decimal locations
Order minimal
5 FLR
Deposit minimal
12 FLR
Deposit confirmations required
60 confirmations (~2 minutes)
Not accessible in
Japan
Service accessible
Kraken, the Kraken Professional interface
Observe: Buying and selling through Kraken App and Immediate Purchase can be accessible as soon as liquidity circumstances are met (when a enough variety of consumers and sellers have entered the marketplace for their orders to be effectively matched).
About leveraged positions
XRP token holders that held a leveraged lengthy spot place by way of the snapshot can be credited a steadiness of FLR akin to this place.
XRP token holders that held a leveraged brief spot place by way of the snapshot can be debited a steadiness of FLR akin to this place.
Kraken additionally helps staking for Flare (FLR) holders*
From the Earn part of your Kraken account or out of your Professional cellular app, you’ll have the ability to stake your FLR holdings and earn as much as 8-12% in yearly rewards.** FLR staking on Kraken is gasless, which means there aren’t any community transaction charges for staking/unstaking or for claiming and withdrawing staking rewards. Moreover, Kraken makes it straightforward so that you can stake and unstake at any time, with no lockup durations.
What you have to know
You’ll be able to earn as much as 12% in yearly rewards, distributed weekly.
Deposits require 60 confirmations (~2 minutes). You’ll be able to add FLR to your Kraken account by navigating to Funding, choosing the asset and hitting Deposit.
FLR staking will not be accessible to shoppers in the US and Canada.
What’s Flare?
Flare is an Ethereum Digital Machine (EVM) primarily based Layer 1 blockchain targeted on creating deeper interoperability between completely different blockchains and decentralized functions. Flare provides FAssets and the LayerCake protocol to open extra blockchains to the ability of good contracts and bridge property throughout good contract enabled networks. Flare’s native token, known as Flare (FLR), can be utilized as collateral inside functions, to supply knowledge feeds and to vote on adjustments to the community.
Helpful hyperlinks
Will Kraken make extra property accessible?
Sure! However our coverage is to by no means reveal any particulars till shortly earlier than launch – together with which property we’re contemplating. All of Kraken’s accessible tokens may be discovered right here, and all future tokens can be introduced on Kraken’s weblog and social media profiles. Our shopper engagement specialists can not reply any questions on which property we could also be making accessible sooner or later.
Commerce with warning
There isn’t any assure {that a} restrict order will execute. There may be additionally no assure a market order will execute at a sure value. The provision and liquidity of the actual digital asset will impression all these orders.
*Geographic restrictions apply
**Reward charges are topic to alter and compliance with Kraken’s phrases and circumstances.
These supplies are for normal data functions solely and usually are not funding recommendation or a advice or solicitation to purchase, promote or maintain any cryptoasset or to have interaction in any particular buying and selling technique. Some crypto merchandise and markets are unregulated, and also you is probably not protected by authorities compensation and/or regulatory safety schemes. The unpredictable nature of the cryptoasset markets can result in lack of funds. Tax could also be payable on any return and/or on any enhance within the worth of your cryptoassets and you need to search unbiased recommendation in your taxation place. For extra data, please see our Phrases of Service.
