On the 15th of April, Coinbase, the largest cryptocurrency exchange in the United States, announced the listing of a new crypto asset, FLR, also known as the Flare token. The announcement was made via Twitter, where Coinbase stated that Flare (FLR) is now live on Coinbase.com and the Coinbase iOS and Android apps with the Experimental label.
Flare (FLR) is now live on https://t.co/CD3RBjtMAO & in the Coinbase iOS & Android apps with the Experimental label. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets. https://t.co/676miKRrfh
— Coinbase Assets (@CoinbaseAssets) April 14, 2023
The listing of FLR is significant news for the crypto community as it is a project that aims to build a secure and distributed smart contract network. Flare’s primary goal is to implement smart contracts for various cryptocurrencies, including XRP, Litecoin (LTC), and Stellar (XLM). These smart contracts will enable the Flare network to offer more functionalities and capabilities, such as decentralized finance (DeFi) applications.
In addition to listing FLR, Coinbase also completed the FLR airdrop distribution, granting a total of 601 million tokens to eligible users. The airdrop distribution is a marketing strategy used by many crypto projects to gain visibility and attract users. It involves the distribution of free tokens to eligible users who meet certain criteria, such as holding a specific amount of a particular cryptocurrency.
FLR holders can use the tokens for various purposes, including transaction fee payments, staking, and governance voting to determine ecosystem policy on Flare Networks. Staking involves holding tokens in a particular wallet to help secure the network and earn rewards in return. Governance voting enables token holders to vote on proposals related to the Flare network’s development, such as protocol upgrades, fee adjustments, and ecosystem changes.
Coinbase’s decision to list FLR and complete the airdrop distribution reflects the exchange’s continued support for the crypto community’s growth and development. As a leading crypto exchange, Coinbase’s listing of new tokens often sparks excitement and enthusiasm among crypto investors and enthusiasts. The listing of FLR is a significant development that will undoubtedly attract more attention to the Flare project and its potential to revolutionize the DeFi space.
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