About Flare
Flare is a smart-contract blockchain that brings cross-chain functionality to assets from networks like XRP. It integrates the Ethereum Virtual Machine and uses protocols like FAssets and the State Connector to create trustless representations of external assets on its chain. Hugo Philion, Sean Rowan, and Nairi Usher founded the network. The three met while studying machine learning at University College London. The Flare mainnet genesis block was created on 14 July 2022, and public distribution of the FLR token began in January 2023. Flare uses Avalanche consensus combined with proof-of-stake. Validators must stake FLR to participate in block production and network security. The native token trades under the ticker FLR and is used to pay transaction fees, stake with validators, provide voting power for oracle data providers, participate in on-chain governance, and act as collateral in applications. At genesis, 100 billion FLR were created. The total supply is capped at approximately 100 to 103 billion tokens, with no inflation beyond that ceiling. The network's purpose is to connect assets from blockchains that lack native smart-contract support to decentralized finance and other on-chain applications.
Firelight adds $30.5M of cover to Kraken USDC vault
Firelight's coverage enhances DeFi security, yet reliance on FXRP and consortium decisions introduces potential risks for depositors.
Bitcoin rebounds above $81,000 after Trump rules out Iran strikes
Bitcoin's rebound highlights market sensitivity to geopolitical tensions, underscoring the fragile balance between crypto and global events.
Firelight launches DeFi insurance with $115M staked XRP on Flare network
The launch of DeFi insurance with staked XRP could enhance XRP's utility and adoption, potentially influencing its long-term market prospects.
THORChain cofounder argues protocol is more decentralized than Bitcoin and Ethereum
THORChain's governance model highlights the need for DeFi investors to scrutinize decentralization claims and assess actual control mechanisms.
Kazakhstan allows crypto miners to use excess oil field gas for power generation
Kazakhstan's policy could reshape global crypto mining by reducing emissions and energy waste, while potentially revitalizing its mining sector.
Denmark’s military intelligence warns of rising risk of Russian attack on NATO
Denmark's intelligence highlights increased Russian risk tolerance, urging NATO to bolster unity and readiness against hybrid threats.
A sourced map of Flare's relationships is on the way.
Partners, competitors and related assets, each link independently verified and source-linked before it appears here.
The Crypto Briefing podcast is on the way.
Conversations on Flare and the wider market, hosted by our team, will appear here once episodes are live.