FLR
FLR is the native token of the Flare network in a similar way that BTC is the native token of Bitcoin or ETH is the native token of the Ethereum blockchain.
Uses of FLR
FLR serves several key functions in Flare:
- Network Security: Staking to validators to provide network security through a Proof-of-Stake (PoS) consensus.
- Data Provision: Incentivized delegation to the Flare Time Series Oracle (FTSO).
- Governance: Participation within network governance.
- Transaction Fees: Prevention of spam attacks (all transaction fees are burned).
FLR details
| Attribute | Description |
|---|---|
| Network | Flare Mainnet |
| Token | FLR |
| Decimals | 18 |
| Genesis creation date | July 14, 2022 |
| Token Distribution Event (TDE) | January 9, 2023 |
FLR is required to make transactions on Flare Mainnet. Tokens on Flare's testnets do not have any value besides allowing you to experiment with the features on the network.
You can acquire testnet tokens through faucets.
Genesis token allocation
At network genesis, 100 billion FLR tokens (100,000,000,000) were created. The majority of tokens are destined for community ownership, whether by direct token distribution, network incentives, or through Flare Foundation ecosystem programs.
FIP.01 lowered the initial token supply to 15 billion FLR tokens.
Burned backer tokens: From October 2024, 66,293,390 (66 million) FLR is set to be burned monthly until January 2026, increasing the community allocation from 58.3% to 59.6%.
These tokens have been allocated to the following groups. Note the delegation, claiming, and voting abilities of each, defined here:
- Can delegate: The entity can earn standard inflationary rewards by delegating tokens to the Flare Time Series Oracle (FTSO).
- Can claim: The entity can wrap tokens to claim a portion of the FlareDrop.
- Can vote: The entity can use its tokens to participate in governance by voting on Flare Improvement Proposals (FIPs).
Flare community
| Entity | Total FLR Allocation | Can Delegate | Can Claim the FlareDrop | Can Vote |
|---|---|---|---|---|
| Flare Foundation (FF) | 9,787,578,628 (9.8 billion) | NO | NO | NO |
| Initial Token Distribution | 4,278,738,206 (4.3 billion) | YES | YES | YES |
| FlareDrop | 24,246,183,166 (24.2 billion) | YES | YES | YES |
| Incentive Pool | 20,000,000,000 (20 billion) | YES | YES | YES |
| Subtotal | 58.3 billion FLR |
Flare partners
| Entity | Total FLR Allocation | Can Delegate | Can Claim the FlareDrop | Can Vote |
|---|---|---|---|---|
| Flare Labs (FL) | 12,965,300,324 (12.97 billion) | YES | NO | YES |
| Flare VC Fund | 10,000,000,000 (10 billion) | With tokens from FL only | NO | NO |
| Subtotal | 22.97 billion FLR |
Team, advisors, and backers
| Entity | Total FLR Allocation | Can Delegate | Can Claim the FlareDrop | Can Vote |
|---|---|---|---|---|
| Founding Team | 7,000,000,000 (7 billion) | YES | NO | YES |
| Rest of Team | 1,500,000,000 (1.5 billion) | YES | NO | YES |
| Future Team | 3,000,000,000 (3 billion) | YES | NO | YES |
| Advisors | 2,000,000,000 (2 billion) | YES | YES | YES |
| Backers | 3,100,811,196 (3.1 billion) | YES | YES | YES |
| Subtotal | 16.6 billion FLR |
Inflation amount
| Entity | Total FLR Allocation | Can Delegate | Can Claim the FlareDrop | Can Vote |
|---|---|---|---|---|
| Inflation | N/A | YES | YES | YES |
Public distribution & inflation
The 28,524,921,372 FLR public distribution is split into two parts:
-
The first 15%, the initial Airdrop (4,278,738,206 FLR), was distributed during the Token Distribution Event (TDE) on January 9, 2023 to wallets that held XRP on December 12, 2020.
-
The remaining 85% (24,246,183,166 FLR), the FlareDrop, are being distributed over 36 monthly amounts directly to token holders who have wrapped their FLR into WFLR.
The annual inflation is calculated based on circulating supply:
- Year 1: 10%
- Year 2: 7%
- Year 3+: 5%
Supply metrics
The recipients of the initial token distribution (the airdrop) make up the largest group of FLR holders. These tokens are immediately available for use in the network, such as participating in governance or delegating to the Flare Time Series Oracle (FTSO). The allocations to the Flare Foundation and Flare Labs also include tokens reserved for backers that have already unlocked, although their distribution doesn't begin until month six.
Flare team members can use their tokens to actively participate in the network and help provide reliable FTSO data. However, they are restricted from selling any of their tokens for the first six months and may sell no more than 25% within the first 18 months. The percentages shown for the Flare Foundation and Flare Labs include these unlocked, but not yet distributed, backer tokens. In total, 80.2% of the 100 billion tokens in the distributed supply are eligible to vote in governance. The remaining 19.8% - held by the Flare Foundation and the Flare VC Fund - is not permitted to vote.
Distribution schedule
By the end of the 36-month token distribution period, 93.9 billion FLR tokens will be liquid and in circulation. After the initial 15% distribution, most recipients receive the remainder of their allocation gradually and consistently over the full 36 months.
While these tokens can be used for network participation - such as governance and delegation to the Flare Time Series Oracle (FTSO) - they are not considered liquid during the vesting period. Restrictions on team token sales mean that, until month 19, there are fewer liquid tokens than there are tokens eligible to participate in governance and FTSO delegation. Once the distribution is complete, 85% of the total FLR supply (93.9 billion out of 110.1 billion) will be in circulation.
