Flare, a data-focused blockchain, has said that it would burn 2.1 billion FLR tokens to promote ecosystem health. A permanent removal of more than 2% of FLR’s whole supply would prevent the dilution of community token holdings and boost the incentives for new users to join the network.
Early supporters of Flare received the portion of tokens that are set to be burnt. After Flare and these parties established an understanding about how the first Flare Improvement Proposal, FIP.01, should impact token distributions to equity owners, these tokens will no longer be delivered.
A total of 198,880,170.19 FLR will be burnt right now, and another 66,293,390.06 FLR will be burned each month until the FlareDrop procedure is finished in January 2026. Backers will now only get a portion of their initial allotment due to the multi-year burn. The supporters received these remaining tokens earlier this week.
Hugo Philion, CEO & Co-Founder of Flare, commented: “We are very happy to have rea
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