Flare Network price
FLR
FLR

Flare Network price

$0.019350
-$0.00005
(-0.26%)
Price change from 00:00 UTC until now
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USD
1h
24h
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Flare Network market information

Market cap
$856.60M
Circulating supply
44,337,287,998 FLR
Market cap ranking
62
24h high
$0.020310
24h low
$0.019090
All-time high
$0.090000

FLR calculator

USDUSD
FLRFLR
Our current rate
1 FLR ≈ $0.019350

Flare Network price performance in USD

The current price of Flare Network is $0.019350. Since 00:00 UTC, Flare Network has decreased by -0.26%. It currently has a circulating supply of 44,337,287,998 FLR and a maximum supply of 102,329,808,097 FLR, giving it a fully diluted market cap of $856.60M. At present, Flare Network holds the 62 position in market cap rankings. The Flare Network/USD price is updated in real-time.
Today
-$0.00005
-0.26%
7 days
-$0.00143
-6.89%
30 days
-$0.00450
-18.87%
3 months
-$0.01152
-37.32%

About Flare Network (FLR)

2.7/5
TokenInsight
2.7
01/28/2023
The rating provided is an aggregated rating collected by OKX TR from the sources provided and is for informational purpose only. OKX TR does not guarantee the quality or accuracy of the ratings. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly, and can even become worthless. The price and performance of the digital assets are not guaranteed and may change without notice. Your digital assets are not covered by insurance against potential losses. Historical returns are not indicative of future returns. OKX TR does not guarantee any return, repayment of principal or interest. OKX TR does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/ tax/ investment professional for questions about your specific circumstances.
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Flare Network (FLR) has garnered attention as a promising platform set to transform smart contracts and interoperability. Utilizing the Ethereum Virtual Machine (EVM), Flare Network incorporates a distinctive federated Byzantine agreement (FBA) consensus mechanism, facilitating the seamless integration of numerous blockchain networks.

What is Flare Network?

Flare Network is a decentralized network that aims to extend smart contract capabilities to blockchains that lack native support, including Bitcoin (BTC) and XRP (XRP). By incorporating the Ethereum Virtual Machine, Flare Network allows the execution of smart contracts and offers developers a familiar environment for building decentralized applications (DApps). This is achieved through a unique consensus mechanism called the Federated Byzantine Agreement, which combines the advantages of Proof of Stake (PoS) and Proof of Work (PoW) mechanisms.

The Flare Network team

The Flare Network team comprises experienced professionals and blockchain enthusiasts who share a vision of unlocking the potential of smart contracts and interoperability. Led by Hugo Philion as the chief executive officer, Sean Rowan as the co-founder & chief product officer, and Amaan Jalwa as the chief financial officer, the team includes experts in distributed systems, cryptography, and blockchain technology. Their combined expertise and dedication are instrumental in driving the development and progress of the Flare Network ecosystem.

How does Flare Network work?

Flare Network operates using the FBA consensus mechanism, which ensures secure and efficient transaction processing. This mechanism involves a subset of trusted nodes called validators, who propose and validate transactions. By employing FBA, Flare Network achieves fast transaction finality and improved scalability compared to traditional blockchain networks. Additionally, the network utilizes the Avalanche consensus protocol, enhancing security and enabling rapid confirmation of transactions.

FLR: Flare Network's native token

FLR is the native cryptocurrency of the Flare Network ecosystem, playing a crucial role in facilitating network operations and incentivizing participants. Holders of FLR can actively engage in the network's governance by voting on protocol upgrades and parameter changes. Additionally, FLR serves as collateral for creating trustless representations of Non-Turing complete tokens like Bitcoin and XRP, achieved through the Flare Time Series Oracle (FTSO) mechanism.

FLR tokenomics

FLR has a fixed supply of 100 billion tokens. The tokens are distributed through various mechanisms, including airdrops and utility-based allocations. Some tokens are allocated to the Flare Foundation to support network development. At the same time, a substantial portion is distributed to XRP holders based on their account balances during a specified snapshot period. The remaining tokens are allocated to network validators, developers, and ecosystem incentives.

FLR token use cases

FLR tokens can be staked to secure the network and earn staking rewards. FLR holders can participate in the decentralized exchange (DEX) built on the Flare Network, providing liquidity and earning trading fees. These tokens can be utilized for various decentralized finance (DeFi) applications, lending, and borrowing protocols, and other financial services within the ecosystem.

FLR token distribution

The distribution of FLR tokens is thoughtfully structured to foster broad participation and cultivate a diverse and dynamic ecosystem. The allocation of FLR tokens through airdrops and to XRP holders aims to promote widespread ownership and adoption of the Flare Network. Concurrently, setting aside tokens for validators, developers, and ecosystem incentives incentivizes active engagement and accelerates the advancement of the Flare Network's development.

The distribution is divided as follows:

  • Community allocation: 58.3 percent
  • Product development and investment: 22.5 percent
  • Flare team, advisors, and early backers: 19.2 percent

The future of smart contracts and interoperability

Flare Network stands at the forefront of innovation in the blockchain industry, offering a solution for smart contract functionality and interoperability across multiple blockchain networks. With its native token FLR serving as the backbone of the ecosystem, Flare Network is poised to drive the future of DeFi and revolutionize how we interact with blockchain technology. Flare Network continues to develop its infrastructure through quality partnerships. One of the most notable is their collaboration with Ankr, who has helped Flare Network simplify node operations and streamline the DApp development process.

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FLR FAQ

What is Flare Network?

Flare Network (FLR) is a decentralized platform that revolutionizes the capabilities of blockchains without native smart contract functionality, such as Bitcoin (BTC) and XRP (XRP). Flare Network achieves seamless integration, and interoperability across multiple blockchain networks by leveraging the Ethereum Virtual Machine (EVM) and a unique consensus mechanism called the Federated Byzantine Agreement. 

What are the benefits of using FLR tokens?

FLR tokens enable participation in network governance, allowing token holders to vote on protocol upgrades and parameter changes. Additionally, FLR tokens can be staked to secure the network and earn staking rewards.

Moreover, these tokens find utility in various decentralized finance (DeFi) applications, including lending, borrowing protocols, and liquidity provision on the Flare Network. FLR tokens provide seamless access to the diverse features and services offered by the Flare Network ecosystem.

Where can I buy FLR tokens?

Easily buy FLR tokens on the OKX TR cryptocurrency platform. Available trading pairs in the OKX TR spot trading terminal include FLR/USDT and FLR/USDC.

How much is Flare Network worth today?
Currently, one Flare Network is worth $0.019350. For answers and insight into Flare Network's price action, you're in the right place. Explore the latest Flare Network charts and trade responsibly with OKX TR.
What is cryptocurrency?
Cryptocurrencies, such as Flare Network, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX TR and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Flare Network have been created as well.

FLR calculator

USDUSD
FLRFLR
Our current rate
1 FLR ≈ $0.019350