Tag: FLARE

Flare Launches Layer 1 Oracle Network

by Blockchain News

Dubai, UAE, 10th January, 2023, Chainwire

Flare, the blockchain for building applications that use data from other chains and the internet, has successfully completed its long-awaited token airdrop at 11:59 pm UTC on January 9th. The airdrop saw 4.279B Flare (FLR) tokens distributed to millions of recipients, including users on Binance, OKX, Kraken, Bithumb, UpBit, Kucoin, BitBank, & more, in one of the largest scale distributions in crypto history.

The airdrop is a significant milestone for Flare as developers can now start to take advantage of Flare’s EVM and native data acquisition protocols, the State Connector and Flare Time Series Oracle. These native protocols, secured by the network, provide decentralized access to high-integrity data from other blockchains and the internet, enabling the creation of new use cases and monetization models. 

Hugo Philion, CEO & Co-founder of Flare said, 

“For the blockchain industry to flourish, we need more useful decentralized applications. Flare is tackling this through data, not just prices but transaction details, Web2 events etc, so that developers can build applications that provide more utility to a larger group of users.”

Hugo continues, “Flare’s objective is to enable developers to build applications that securely access more data. This could enable new use cases to be built, such as triggering a Flare smart contract action with a payment made on another chain, or with input from an internet/web2 API. It also facilitates a new way of bridging, specifically to bring non-smart contract tokens to Flare for use in applications like DeFi protocols.”

Flare’s State Connector protocols enable information to be used securely, scalably and trustlessly with smart contracts on Flare. This offers the most powerful class of data on the network and enables more cross-chain solutions to be built. The State Connector derives its safety from combining a decentralized set of attestors with a binary forking protocol, which allows for a malicious majority of data providers to be challenged. In contrast to a proof of stake based system where data providers are obliged to stake value, the security of the State Connector is not limited by the amount staked in the system. This means that the State Connector is invariant in its safety relative to the size of a transaction, this offers a secure system capable of handling large amounts of value.
The Flare Time Series Oracle (FTSO) utilizes the network structure to deliver highly decentralized prices and data series to dapps on Flare without relying on centralized data providers. The FTSO is a highly decentralized data feed oracle, with almost 100 independent data providers incentivized to provide reliable data every 3 minutes. 

The Flare token distribution represents the first 15% of the full public token distribution, with the remainder to be distributed on a monthly basis over 36 months. The method of allocation of the remaining 85% of token supply depends on the outcome of a community vote on Flare Improvement Proposal 01 (FIP.01). 

About Flare
Flare is the Layer 1 oracle network that allows developers to build applications that are interoperable with blockchains and the internet. By providing decentralized access to high-integrity data, Flare enables new use cases and monetisation models.

Flare’s State Connector protocols enable information, both from other blockchains and the internet to be used securely, scalably and trustlessly with smart contracts on Flare.

The Flare Time Series Oracle delivers highly-decentralized price and data feeds to dapps on Flare, without relying on centralized providers.

Build on Flare with more data than ever before or build with Flare to serve multiple ecosystems.

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Contact

Nadav Dakner
nadav@marketacross.com
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Flare CEO Updates XRP Holders on Massive Upcoming Spark Token Airdrop – Here’s What’s Happening

by Dailyhodl

The road to Flare’s much-anticipated airdrop to XRP holders is in its home stretch, according to the company’s chief executive.

Hugo Philion, CEO and co-founder of Flare, says on Twitter the company is working to upgrade their Songbird network before the airdrop of Spark (FLR) tokens.

“For all those asking where their FLR is. We are upgrading Songbird, before the end of March 2022, with the final two protocols required before Flare launch. This will then allow us to proceed to Flare launch. A full roadmap to Flare launch will be released in the coming weeks.”

Flare Network, with its native FLR token, aims to essentially bring smart contract capabilities to various blockchain networks, starting with XRP and then Litecoin (LTC).

When Flare launches, the company says that each eligible holder will immediately receive 15% of their claimable Spark tokens, and then claim an average of 3% per month, carrying on for a minimum of 25 months and a maximum of 34 months.

Philion says Flare is communicating with top exchanges about the upcoming airdrop.

“With regards to exchange distribution of the FLR token, we have reached out to the largest exchanges to get full definition on what they require in order to distribute the token so that Flare meets those requirements.”

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Blockchain tech firms AllianceBlock and Flare integrate technologies to expand their DeFi ecosystems

by Cointelegraph

AllianceBlock, a blockchain tech firm that seeks to bridge the gap between decentralized finance, or DeFi, and traditional finance, announced a partnership with fellow blockchain tech entity Flare.

Flare claims its layer-one, or blockchain protocol improvement, technology can bring smart contracts to cryptocurrencies such as XRP (XRP), Dogecoin (DOGE), Bitcoin (BTC), Algorand, and Stellar Lumens (XLM). In addition, Flare is also a decentralized oracle network, which seeks to enable blockchains to access real-world data in smart contract execution.

Meanwhile, AllianceBlock brings to the table its cross-chain interoperability solution AllianceBridge, its native decentralized exchange, or DEX, known as AllianceBlock DEX, decentralized peer-to-peer funding protocol AllianceBlock Fundrs, and its Compliance and Regulatory solution. Together, the two parties seek to enhance their blockchains for DeFi capabilities with each other’s technologies.

Asked about its DeFi and regulatory compliance services, Rachid Ajaja, co-founder and CEO of AllianceBlock, told Cointelegraph:

“With increased interest from traditional finance in DeFi, AllianceBlock’s Regulatory and Compliance layer will allow traditional institutions to access opportunities in DeFi in a variety of ways, such as creating compliant, tradeable certificate wraps out of liquidity mining tokens, yield farming, or NFTs.

Ajaja further explained that the firm’s regulatory and compliance products automatically check for non-compliant transactions before each trade. In addition, they can add such rules to smart contracts running on decentralized applications, or dApps, to ensure crypto exchanges and financial institutions stay up to date on the latest regulations.

Hugo Philion, Flare’s co-founder and CEO, said the following in regards to the capabilities of the network:

The Flare ecosystem is being built to “Unlock the Value” inherent in the 65% of blockchains that do not have native smart contracts by bringing, for the first time, true trustless usage of those tokens with scalable smart contracts.

He further elaborated on the company’s partnership with AllianceBlock:

“Communities that have previously been locked out of the smart contract revolution are now actively contributing to the space. Now with this exciting partnership and the integration by AllianceBlock onto Songbird, the Flare ecosystem gets to help unlock the value in Traditional Finance by enabling it to access Decentralized Finance.”