After first asserting our help 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 occurred on December 12, 2020 at roughly 12 am UTC (the primary validated XRP ledger with a timestamp higher than or equal to 00:00 UTC on December 12, 2020).
Kraken accounts that had an XRP stability on the time of the snapshot are anticipated to obtain roughly 15% of the entire 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 tactic of distribution of the rest of FLR tokens will depend on the result of the group vote on Flare Enchancment Proposal 01 (FIP.01). Voting on this proposal is anticipated to start out 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, deciding on the asset, and hitting Deposit. Buying and selling is anticipated to go stay January 10.
Right here’s what it is advisable to know:
| Ticker | FLR |
| Tradeable towards | USD, EUR |
| Worth precision | 2 decimal locations |
| Order minimal | 5 FLR |
| Deposit minimal | 12 FLR |
| Deposit confirmations required | 60 confirmations (~2 minutes) |
| Not out there in | Japan |
| Service out there | Kraken, the Kraken Professional interface |
Observe: Buying and selling through Kraken App and On the spot Purchase might be out there as soon as liquidity circumstances are met (when a ample variety of patrons 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 the snapshot might be credited a stability of FLR similar to this place.
XRP token holders that held a leveraged brief spot place by the snapshot might be debited a stability of FLR similar to this place.
Kraken additionally helps staking for Flare (FLR) holders*
From the Earn part of your Kraken account or out of your Professional cell app, you’ll be capable to stake your FLR holdings and earn as much as 8-12% in yearly rewards.** FLR staking on Kraken is gasless, which means there are not any community transaction charges for staking/unstaking or for claiming and withdrawing staking rewards. Moreover, Kraken makes it simple so that you can stake and unstake at any time, with no lockup intervals.
What it is advisable 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, deciding on the asset and hitting Deposit.
- FLR staking isn’t out there to shoppers in america and Canada.
What’s Flare?
Flare is an Ethereum Digital Machine (EVM) primarily based Layer 1 blockchain centered on creating deeper interoperability between totally different blockchains and decentralized purposes. Flare presents 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 purposes, to offer information feeds and to vote on modifications to the community.
Helpful hyperlinks
Will Kraken make extra property out there?
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 out there tokens could be discovered right here, and all future tokens might be introduced on Kraken’s weblog and social media profiles. Our shopper engagement specialists can’t reply any questions on which property we could also be making out there sooner or later.
Commerce with warning
There isn’t a assure {that a} restrict order will execute. There’s additionally no assure a market order will execute at a sure worth. The supply and liquidity of the actual digital asset will influence all these orders.
*Geographic restrictions apply
**Reward charges are topic to vary and compliance with Kraken’s phrases and circumstances.
These supplies are for normal data functions solely and are usually not funding recommendation or a suggestion or solicitation to purchase, promote or maintain any cryptoasset or to interact in any particular buying and selling technique. Some crypto merchandise and markets are unregulated, and also you will not be 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 it is best to search impartial recommendation in your taxation place. For extra data, please see our Phrases of Service.
