Flare nears completion of FlareDrops as FLR enters utility-focused phase

Flare Network, a Layer 1 blockchain, has announced that its FlareDrops distribution program is nearing completion, marking the final stage of a 36-month initiative that distributed billions of FLR tokens to the network’s community.  According to the announcement shared with Finbold on Thursday, January 29, the conclusion of FlareDrops signals the transition of FLR into what the network describes as its operational utility phase. Launched in January 2023 following a governance proposal approved by 93% of voters, the FlareDrops program was designed to promote broad network ownership and incentivize active participation. Under the proposal, approximately 24 billion FLR tokens were distributed in monthly increments to wallets holding wrapped FLR or staked FLR over a three-year period source: https://finbold.com/flare-nears-completion-of-flaredrops-as-flr-enters-utility-focused-phase/