After first saying 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 happened on December 12, 2020 at roughly 12 am UTC (the primary validated XRP ledger with a timestamp higher 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 full 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 relies on the result of the group vote on Flare Enchancment Proposal 01 (FIP.01). Voting on this proposal is predicted 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 reside January 10.
Right here’s what you could 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 accessible in | Japan |
| Service accessible | Kraken, the Kraken Professional interface |
Notice: Buying and selling by way of Kraken App and Prompt Purchase shall be accessible as soon as liquidity circumstances are met (when a adequate 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 via the snapshot shall be credited a steadiness of FLR equivalent to this place.
XRP token holders that held a leveraged quick spot place via the snapshot shall 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 be capable of stake your FLR holdings and earn as much as 8-12% in yearly rewards.** FLR staking on Kraken is gasless, which 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 durations.
What you could 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, deciding on the asset and hitting Deposit.
- FLR staking just isn’t accessible to shoppers in america and Canada.
What’s Flare?
Flare is an Ethereum Digital Machine (EVM) based mostly Layer 1 blockchain targeted on creating deeper interoperability between completely different blockchains and decentralized functions. Flare affords FAssets and the LayerCake protocol to open extra blockchains to the facility 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 adjustments to the community.
Helpful hyperlinks
Will Kraken make extra belongings accessible?
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 accessible tokens may be discovered right here, and all future tokens shall 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 accessible 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 value. The provision and liquidity of the actual digital asset will impression a lot of these orders.
*Geographic restrictions apply
**Reward charges are topic to vary and compliance with Kraken’s phrases and circumstances.
These supplies are for normal data functions solely and will not be funding recommendation or a suggestion 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 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 improve 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.
