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- Australia’s leading exchange announces possible support for DeFi ecosystem airdrop on Flare Networks, Flare Finance.
- FLR price rises in conjunction with XRP due to an airdrop announced with mainnet deployment.
The so-called utility fork of the XRP Ledger, Flare Networks, continues to expand and so does its first DeFi ecosystem, Flare Finance. The platform will offer its users a range of decentralized finance products and has piqued the interest of the crypto community.
Following the mainnet launch, holders of Flare Networks’ FLR token will be able to receive an airdrop of the DFLR token. In response to a user’s question, the exchange CoinSpot announced via Twitter that they “will likely support airdrop of the FLR token”.
Although they stated that they do not have details, users will be informed on the platform. In response to the post, the Flare Finance team made themselves available to CoinSpot to assist with possible integration.
CoinSpot is one of the largest players in Australia. Through its platform, users can buy, sell, and use the exchange service for Bitcoin and 250 other supported cryptocurrencies. The platform is characterized by affordable fees and easy verification.
For its part, the Flare Finance project seems to be on the right track. After making a relaunch of its Coston (v2) testnet a few days ago, the Flare Finance team announced the start of its beta program. Products for lending, yield farming, among others, will be tested soon.
Meanwhile, XRP holders who participated in the snapshot to receive the FLR token airdrop celebrate the current state of the market. As indicated by trader “Credible Crypto”, XRP and FLR are in a massive uptrend. Therefore, investors who receive this token will have a double benefit.
It should be noted that the trader points out the performance of the IOU, an instrument created by the exchange platform to allow investors to trade FLR prior to its launch. These products have no affiliation with Flare Networks.
The FLR token is expected to be delivered to beneficiaries with the launch of the Flare Networks mainnet, targeted for the second quarter of the current year. Credible Crypto has also stated that the price of FLR could be negatively impacted once the first phase of the airdrop is completed which will deliver only 15% of the token to investors.
