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On January 9th at 11:59 pm UTC, Flare, the blockchain platform for creating applications that utilize data from other blockchain networks and the internet, successfully conducted its highly-anticipated token airdrop. The airdrop distributed a total of 4.279 billion Flare (FLR) tokens to millions of recipients, including users on a wide range of prominent crypto exchanges such as Binance, OKX, Kraken, Bithumb, UpBit, Kucoin, BitBank, and more. This was one of the largest scale token distributions in the history of the crypto industry.

The successful completion of the airdrop marks a significant achievement for Flare, as it now allows developers to utilize Flare's Ethereum Virtual Machine (EVM) and its proprietary data acquisition protocols, the State Connector and Flare Time Series Oracle. These native protocols, which are secured by the Flare network, provide a decentralized means of accessing high-integrity data from other blockchain networks and the internet. This opens up the possibility of creating new applications and revenue streams.

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.”

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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.”

The Flare Time Series Oracle (FTSO) utilizes the Flare network to deliver highly decentralized prices and data series to decentralized applications (dapps) on the network, bypassing the need for centralized data providers. The FTSO is a decentralized data feed oracle, with nearly 100 independent data providers incentivized to furnish accurate information every 3 minutes.

Flare's State Connector protocols enable data to be used securely, scalably, and trustlessly with smart contracts on the Flare network. This provides a powerful class of data on the network, enabling the creation of more cross-chain solutions. The State Connector achieves its security by combining a decentralized set of attestors with a binary forking protocol, which allows for a malicious majority of data providers to be challenged. Unlike a proof-of-stake based system where data providers are required 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 constant in its security regardless of the size of a transaction, providing a secure system capable of handling large amounts of value.

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)