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 befell 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 stability 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 purchasers will obtain 0.151095 FLR for each 1.0000 XRP that they had on Kraken on the time of the snapshot. The strategy of distribution of the rest of FLR tokens depends upon the 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, deciding on the asset, and hitting Deposit. Buying and selling is anticipated to go stay January 10.

Right here’s what that you must know:

TickerFLR
Tradeable in opposition toUSD, EUR
Worth precision2 decimal locations
Order minimal5 FLR
Deposit minimal 12 FLR
Deposit confirmations required60 confirmations (~2 minutes)
Not obtainable in Japan
Service obtainable Kraken, the Kraken Professional interface

Observe: Buying and selling by way of Kraken App and Prompt Purchase will likely be obtainable as soon as liquidity situations are met (when a adequate variety of patrons 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 will likely be credited a stability of FLR comparable to this place.

XRP token holders that held a leveraged brief spot place by way of the snapshot will likely be debited a stability of FLR comparable 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 be capable of stake your FLR holdings and earn as much as 8-12% in yearly rewards.** FLR staking on Kraken is gasless, that means there aren’t 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 durations.

 

What that you must know

  • You possibly can earn as much as 12% in yearly rewards, distributed weekly.
  • Deposits require 60 confirmations (~2 minutes). You possibly can add FLR to your Kraken account by navigating to Funding, deciding on the asset and hitting Deposit.
  • FLR staking isn’t obtainable to purchasers in america and Canada.

 

What’s Flare?

Flare is an Ethereum Digital Machine (EVM) primarily based Layer 1 blockchain targeted on creating deeper interoperability between totally different blockchains and decentralized purposes. Flare presents FAssets and the LayerCake protocol to open extra blockchains to the ability of sensible contracts and bridge belongings throughout sensible contract enabled networks. Flare’s native token, known as Flare (FLR), can be utilized as collateral inside purposes, to supply knowledge feeds and to vote on modifications to the community.

 

Helpful hyperlinks

 

Will Kraken make extra belongings obtainable?

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 obtainable tokens could be discovered right here, and all future tokens will likely be introduced on Kraken’s weblog and social media profiles. Our consumer engagement specialists can not reply any questions on which belongings we could also be making obtainable sooner or later. 

Commerce with warning

There is no such thing as a assure {that a} restrict order will execute. There’s additionally no assure a market order will execute at a sure value. The supply and liquidity of the actual digital asset will impression some of these orders.

*Geographic restrictions apply

 **Reward charges are topic to vary and compliance with Kraken’s phrases and situations.


These supplies are for basic data functions solely and usually are not funding recommendation or a suggestion or solicitation to purchase, promote or maintain any cryptoasset or to interact in any particular buying and selling technique. Some crypto merchandise and markets are unregulated, and also you might not be 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 enhance within the worth of your cryptoassets and you must search impartial recommendation in your taxation place. For extra data, please see our Phrases of Service.



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