Coinbase Airdrops 601 Million FLR Tokens To Qualified XRP Holders

• The price of Flare Tokens, however, has not changed much.
• The ratio of Flare to XRP in this distribution will be 1.0073 Flare for every 1 XRP X 0.15.

On Friday, Coinbase, a cryptocurrency exchange, said that it had successfully distributed all of the Flare (FLR) tokens that had been promised. There were over 601 million FLR tokens released to those who qualified (those who had XRP). The price of Flare Tokens, however, has not changed much.

Coinbase has permitted Flare token outward transactions, per the release. It was previously announced that trading will commence once liquidity requirements were satisfied. For the time being, however, FLR tokens are listed as experimental.

Some crypto assets that are either new to the market or have minimal trading volume orders are classified under the experimental asset designation.

No Positive Effect on Price

In spite of this, Coinbase cautioned its customers to proceed with care when dealing with these assets because of the potential for several hazards associated with them. This includes fluctuations in prices and cancelled purchases that correlate with less volume.

Coinbase said that the Flare airdrop would be distributed in proportion to the XRP amount shown on the exchange on December 12, 2020. However, the ratio of Flare to XRP in this distribution will be 1.0073 Flare for every 1 XRP X 0.15. 

Despite the Coinbase airdrop, the value of Flare tokens hasn’t changed significantly. The value of FLR has decreased by almost 0.67% during the last day. As of this writing, the going rate for Flare is 0.035 USD.

Flare is an EVM-based layer 1 protocol that provides developers with decentralized access to high-integrity data from other chains and the internet in order to increase the utility of blockchain. This allows dapps to serve many chains with a single deployment, opening up new use cases and revenue models.