After first announcing our support for the Flare (FLR) token distribution event on December 11, 2020We are pleased to announce that eligible XRP token holders will start receiving FLR on January 10, 2023.
The snapshot of XRP balances took place on December 12, 2020 at approximately 12 am UTC (the first validated XRP ledger with a timestamp greater than or equal to 00:00 UTC on December 12, 2020).
Kraken accounts that had a balance of XRP at the time of the snapshot are expected to receive approximately 15% of the total FLR they are eligible for on January 10, 2023 after the completion of the Token Distribution Event. At that time, eligible clients will receive 0.151095 FLR for every 1.0000 XRP they held on Kraken at the time of the snapshot. The method of distribution of the rest of the FLR tokens depends on the result of the community vote on Flare improvement proposal 01 (FIP.01). Voting on this proposal is expected to begin in February.
Financing and trade
You will be able to add FLR to your Kraken account by going to Moneyselecting the resource and clicking Deposit. Trading is expected to activate in January 10.
Here’s what you need to know:
2 decimal places
Deposit confirmations are required
60 confirmations (~2 minutes)
not available in
krakenthe professional kraken Interface
Note: Trading via the Kraken app and instant buying will be available once liquidity conditions are met (when a sufficient number of buyers and sellers have entered the market for their orders to be matched efficiently).
About leveraged positions
XRP token holders who had a leveraged long position via snapshot a corresponding FLR balance will be credited to this position.
XRP token holders who had a leveraged short position via snapshot a balance of FLR corresponding to this position will be debited.
Kraken also supports betting for Flare (FLR) holders*
From the To win section of your Kraken account or your professional mobile application, you will be able to stake your FLR holdings and earn up to 8-12% in annual rewards.** FLR staking on Kraken is free, meaning there are no network transaction fees for staking/unstaking or claiming and withdrawing staking rewards. Furthermore, Kraken makes it easy for you to bet and stop betting at any time, with no lock-in periods.
what you need to know
You can earn up to 12% in annual rewards, distributed weekly.
Deposits require 60 confirmations (~2 minutes). You can add FLR to your Kraken account by going to Moneyselecting the asset and pressing Deposit.
FLR participation is not available to customers in the United States and Canada.
What is Flare?
Flare is a Layer 1 blockchain based on the Ethereum Virtual Machine (EVM) that focuses on creating deeper interoperability between different blockchains and decentralized applications. Flare offers FAssets and the LayerCake protocol to open up more blockchains to the power of smart contracts and unite assets through smart contract-enabled networks. Flare’s native token, called Flare (FLR), can be used as collateral within applications, to provide data feeds, and to vote on changes to the network.
Will Kraken make more assets available?
Yes! But our policy is to never reveal any details until shortly before launch, including the assets we’re considering. All available Kraken tokens can be found here, and all future tokens will be announced on Kraken’s blog and social media profiles. Our customer engagement specialists cannot answer any questions about what assets we may make available in the future.
Operate with caution
There is no guarantee that a limit order will be executed. There is also no guarantee that a market order will be executed at a certain price. The availability and liquidity of the particular digital asset will affect these types of orders.
*Geographic restrictions apply
**Reward fees are subject to change and compliance with Kraken’s terms and conditions.
These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell or hold any crypto asset or to engage in any specific trading strategy. Some cryptographic markets and products are not regulated and you may not be protected by government compensation schemes and/or regulatory protection. The unpredictable nature of crypto asset markets can lead to loss of funds. Taxes may be payable on any returns and/or on any increase in the value of your crypto assets and you should seek independent advice on your tax position. For more information, see our Terms of Service.
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This post Kraken Supports Flare (FLR) Token Distribution Event: Trading and Staking Begins January 10
was published first on https://blog.kraken.com/post/17051/kraken-supports-the-flare-flr-token-distribution-event-trading-and-staking-start-january-10/