ChainCatcher news, Flare Network announced on social media that it has burned 66 million FLR tokens (approximately 1.4 million USD), with a goal of cumulatively burning 2.1 billion tokens by 2026. This will further reduce the circulating supply, which also includes transaction fees and unclaimed rewards.

ChainCatcher news, the L1 project Flare Network has initiated the FIP.09 proposal, allocating an initial 510 million FLR from a 2 billion incentive pool to attract builders and support Flare liquidity. This will be the first time any tokens are allocated from the incentive pool. Future governance proposals will require community approval for the distribution of the remaining incentive pool. A "distribution committee" composed of six representatives from both Flare and non-Flare will be responsible for guiding the distribution to dapps and protocols built on Flare.Each month, the committee can allocate any maximum amount, with voting starting on Friday, June 28.

ChainCatcher news, Flare Networks announced the official launch of its FAssets system open beta. This test will be conducted in two phases and plans to carry out a retrospective airdrop reward. The FAssets system allows users to map assets from different blockchains (such as XRP, LTC, DOGE, etc.) to the Flare network, enabling these assets to be used on Flare and participate in applications like DeFi.

ChainCatcher news, the smart contract platform Flare Network announced on social media that it has launched the public staking platform FlareStake, which is initially available only to users with Ledger devices.

ChainCatcher news, according to CoinDesk, Layer1 blockchain Flare Network will burn 2.1 billion FLR tokens to support the development and overall health of the ecosystem. Approximately 198 million FLR will be burned immediately, and an additional 66 million FLR will be burned monthly until the end of January 2026. More than 2% of the total supply of FLR will permanently exit circulation to prevent dilution of community token holdings. The portion of tokens planned for destruction has been allocated to early supporters of Flare and will not be redistributed thereafter.

ChainCatcher news, Layer1 blockchain Flare Network recently announced that the initial token distribution will begin before January 9, 2023, and has revealed the token allocation and tokenomics, which has two versions. The specific allocation will depend on the approval of the proposal.It is understood that the total supply of FLR tokens is 100 billion, of which 58.3 billion FLR will be distributed to the community through direct distribution and rewards, 19.2 billion FLR will be allocated to the team, advisors, and supporters, and 22.5 billion FLR will be allocated to Flare Networks Limited and Flare VC Fund. Regardless of whether the vote passes, both versions will distribute FLR tokens according to the above quantities. (Source link)

Chain Catcher News, Layer1 blockchain Flare Network announced that the code repository is now public, which means that validators can now join the network. If there are enough validators to take on their roles, the token distribution event will take place between October 24 and November 6, with the exact dates within that range depending on feedback from exchanges. (Source link)