After first asserting 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 occurred on December 12, 2020 at roughly 12 am UTC (the primary validated XRP ledger with a timestamp better 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 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 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 reside January 10.
Right here’s what you must 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 |
Notice: Buying and selling by way of Kraken App and Prompt Purchase can be out there as soon as liquidity situations 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 equivalent to this place.
XRP token holders that held a leveraged quick spot place by way of the snapshot can be debited a steadiness of FLR equivalent 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 have the ability to stake your FLR holdings and earn as much as 8-12% in yearly rewards.** FLR staking on Kraken is gasless, that means there are not 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 intervals.
What you must know
- You may earn as much as 12% in yearly rewards, distributed weekly.
- Deposits require 60 confirmations (~2 minutes). You may add FLR to your Kraken account by navigating to Funding, choosing the asset and hitting Deposit.
- FLR staking shouldn’t be out there to shoppers in the USA 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 gives FAssets and the LayerCake protocol to open extra blockchains to the ability of good contracts and bridge belongings throughout good contract enabled networks. Flare’s native token, known as Flare (FLR), can be utilized as collateral inside functions, to offer knowledge feeds and to vote on modifications to the community.
Helpful hyperlinks
Will Kraken make extra belongings out there?
Sure! However our coverage is to by no means reveal any particulars till shortly earlier than launch – together with which belongings we’re contemplating. All of Kraken’s out there tokens might 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 belongings we could also be making out there sooner or later.
Commerce with warning
There is no such thing as a assure {that a} restrict order will execute. There may be additionally no assure a market order will execute at a sure worth. 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 situations.
These supplies are for normal info functions solely and aren’t 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 improve within the worth of your cryptoassets and you need to search unbiased recommendation in your taxation place. For extra info, please see our Phrases of Service.
