FLR
FLR

Flare Network price

$0.014680
-$0.00048
(-3.17%)
Price change for the last 24 hours
USDUSD
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Flare Network market info

Market cap
Market cap is calculated by multiplying the circulating supply of a coin with its latest price.
Market cap = Circulating supply × Last price
Circulating supply
Total amount of a coin that is publicly available on the market.
Market cap ranking
A coin's ranking in terms of market cap value.
All-time high
Highest price a coin has reached in its trading history.
All-time low
Lowest price a coin has reached in its trading history.
Market cap
$897.25M
Circulating supply
61,037,612,514 FLR
59.17% of
103,145,203,079 FLR
Market cap ranking
51
Audits
CertiK
Last audit: --
24h high
$0.015360
24h low
$0.014640
All-time high
$0.090000
-83.69% (-$0.07532)
Last updated: 10 Jan 2023
All-time low
$0.0081100
+81.01% (+$0.0065700)
Last updated: 20 Oct 2023

Flare Network price performance in USD

The current price of Flare Network is $0.014680. Over the last 24 hours, Flare Network has decreased by -3.17%. It currently has a circulating supply of 61,037,612,514 FLR and a maximum supply of 103,145,203,079 FLR, giving it a fully diluted market cap of $897.25M. At present, the Flare Network coin holds the 51 position in market cap rankings. The Flare Network/USD price is updated in real-time.
Today
-$0.00048
-3.17%
7 days
+$0.000040000
+0.27%
30 days
-$0.00661
-31.05%
3 months
-$0.01330
-47.54%

About Flare Network (FLR)

2.7/5
TokenInsight
2.7
28/01/2023
The rating provided is an aggregated rating collected by OKX from the sources provided and is for informational purpose only. OKX 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 does not guarantee any return, repayment of principal or interest. OKX 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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Flare Network FAQ

How much is 1 Flare Network worth today?
Currently, one Flare Network is worth $0.014680. 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.
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 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.
Will the price of Flare Network go up today?
Check out our Flare Network price prediction page to forecast future prices and determine your price targets.

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Disclaimer
The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX. 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. The price and performance of the digital assets are not guaranteed and may change without notice. OKX 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. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets.
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