Flare (FLR)USD

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.