Flare

Flare is an EVM-compatible layer-one blockchain designed so that smart contracts can reliably access data from other blockchains and the internet. FLR is the network's native coin. Distribution of the token began in early 2023 with an airdrop to XRP holders based on a previously taken snapshot.

Flare's core idea is to build data provision into the protocol itself rather than leave it to external oracle services. The Flare Time Series Oracle (FTSO) aggregates price and data feeds submitted by independent data providers and makes them available to applications. The Flare Data Connector (formerly the State Connector) allows events on other chains and information from the internet to be verified and used in contracts. The FAssets system aims to create collateralized representations on Flare of assets such as XRP that lack smart contract support. FLR is used for transaction fees, for earning rewards by delegating to data providers, for staking, in governance votes and as FAssets collateral.

The FLR price may depend on factors such as actual usage of FAssets and the data protocols, new supply created through network rewards, the development of its ties with the XRP ecosystem and competing oracle solutions. The data used for Flare on Lzzo.com is DefiLlama's US dollar reference price; the chart on the page is based on this provider's historical data.