$FLR Beyond Oracles - Flare's Data Blockchain with $46.3M Raised
We are about to experience a 360deg shift in how decentralized data is accessed.
$FLR will officially be the first-ever Layer 1 blockchain to eliminate third-party oracles like Chainlink and API3.
With $46.3M raised and 58% of $FLR for the community, Flare is empowering multi-chain dApps.
My research into @FlareNetworks and how this will accrue value to $FLR 🧵👇
Key Highlights
Flare's Data-Driven Blockchain: Flare is a Layer 1 blockchain designed to provide decentralized data access without relying on third-party oracles, enabling developers to build real-world, multi-chain dApps.
Unique Data Acquisition Protocols: Flare offers two native data protocols—Flare Time Series Oracle (FTSO) and Data Connector—to securely integrate external data and events into decentralized applications.
$FLR Tokenomics and Governance: $FLR tokens are essential for network security, transaction fees, and governance. Over 58% of the total supply is allocated to the community, with a focus on inclusivity in decision-making.
rFLR DeFi Program and Rewards: Flare's DeFi Emissions Program uses rFLR tokens to incentivize liquidity in dApps, offering rewards that vest over time and can be used to earn further benefits through FlareDrops.
FAssets Retro Airdrop: Flare is offering a $400,000 retroactive airdrop to active participants of the FAssets initiative, rewarding users for engaging with Flare’s testnet and minting assets like FXRP and FBTC.
Flare: A Blockchain Built for Data
Let’s face it—most blockchain apps today are stuck in a loop of speculation.
Why? Because they don’t have access to enough reliable, decentralized data to build apps that really matter to people’s everyday lives.
Without this, creating apps with real-world impact remains a huge challenge, limiting blockchain’s potential to grow beyond niche financial circles.
Flare is a Layer 1 blockchain designed to solve this challenge by making decentralized data more accessible.
Unlike traditional blockchains, Flare incorporates data acquisition functionality, enabling developers to securely access data from other chains and the internet.
Accelerating launch of a disruptive blockchain project - Flare Network
What does this mean for developers? It means they can build dApps that aren’t just about trading and speculation.
Flare makes it possible to create apps with fresh use cases, meaningful connections to real-world data, and even the ability to serve multiple chains at once—all through a single deployment.
And since Flare is EVM-compatible, any app built for Ethereum or other EVM chains can work on Flare with ease.
What sets Flare apart?
Its unique ability to provide decentralized data access without leaning on third-party oracles, which can often be centralized and pricey.
Flare has two native data acquisition protocols, both secured by its Layer 1 network:
Flare Time Series Oracle (FTSO): Supplies highly-decentralized, real-time data feeds directly to dApps.
Data Connector: Enables Flare to securely and trustlessly verify external events, like blockchain transactions or API data, ensuring seamless integration with the outside world.
FTSOv1 has been deprecated on Songbird, FTSOv2 is next in line https://x.com/FlareNetworks/status/1860051917654589632
Together, these protocols make Flare a true “blockchain for data,” empowering developers to access reliable, decentralized data from other chains and the internet.
Using these protocols, Flare Labs built a trustless bridge to unlock DeFi opportunities for BTC, XRP and DOGE.
Check it out -
Flare has also successfully raised $46.3M across three funding rounds and boasts a robust ecosystem, with prominent partners such as @LayerZero_core, @googlecloud, and @StargateFinance.
$FLR Tokenomics
The $FLR token is the backbone of Flare, designed to foster community ownership and drive network growth.
With a total genesis supply of 100B FLR, over half (58.3%) is allocated to the community through mechanisms like monthly FlareDrops, an incentive pool to attract value, and ecosystem grants to support builders.
A key feature of Flare’s governance is inclusivity—nearly 20% of the genesis supply, held by the Flare Foundation and Flare VC Fund, cannot vote.
This ensures decisions remain community-driven. After an initial 15% token release, the remaining allocation is distributed gradually over 36 months as FlareDrops. Learn more: https://flare.network/flaredrops .
$FLR Uses
Network Security: Stake to validators to maintain network integrity.
FTSO Delegation: Support decentralized price data accuracy.
dApp Collateral: Used within Flare’s decentralized applications.
Transaction Fees: Prevent spam attacks and ensure efficiency.
What is rFLR?
Flare’s DeFi Emissions Program introduces Reward Flare (rFLR) to incentivize liquidity in participating dApps.
Here’s how it works:
Rewards Allocation: rFLR is distributed to users contributing to incentivized liquidity pools within selected dApps.
Claiming Rewards: Claim your rFLR via the Flare Portal. Once claimed, rewards vest over 12 months, unlocking 1/12 of rewards monthly. Alternatively, users can withdraw immediately at a 50% penalty.
Maximizing Returns: Holding rFLR distributions to fully vest ensures maximum rewards. Claimed tokens can be wrapped and used to earn monthly FlareDrops.
You can bridge to Flare using Stargate to take part in rFLR rewards -https://x.com/FlareNetworks/status/1816099209449476405
FAssets Retro Airdrop
Since its launch on the Coston testnet on June 4, the FAssets initiative has seen alot of engagement:
47,000 Participants
250,000 Minted Transactions
30,000 Redeems
Currently, supports xrp, btc and doge
To encourage community participation and prepare for the full launch, Flare is currently offering a retroactive airdrop for active users of FAssets during the Open Beta phase.
Airdrop Overview
Total Allocation: $400,000 in rFLR
Eligible Users: Up to 10,000 active participants
Actions Required: Minting/redeeming any FAssets (FTestBTC, FTestXRP and FTestDOGE)
and managing collateral on FlareLabs.
Reward Tiers: Rewards range from $10 to $1,000, based on user activity.
Participation Rules
Ineligibility: Wallets holding over 1,000 FTestXRP or 0.01 FBTC and 2000 FDOGE 48 hours after the announcement are excluded.
Anti-Sybil Measures: Participants must demonstrate activity in $FLR or $SGB delegation or staking. Each primary wallet can link to only one beta wallet.
What’s next?
The recent implementation of FIP.11 & SIP.05 votes on the Flare mainnet marked a significant step toward optimizing rewards for data providers and have now passed.
https://x.com/FlareNetworks/status/1861837583111602651?t=06FXW3jYqSIfhkgkm2fMbg&s=19