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From Flare:
Flare's earliest investors have reinvested in the long term future of the network in a groundbreaking new agreement.
In addition to extending token vesting and capping sales, they will reinvest 50% of any token sales back into Flare ecosystem projects.
--------------------------------
Huge vote of confidence by early investors. Unlike many projects wherein early VC investors dump on retail.
With everything going on it's no wonder this is waking up. All basic protocols will launch this year, per project lead. Google Cloud became an active participant in the Flare network...read that correctly, Flare is not "using" Google Cloud, Google Cloud is a validator on the network. New launch of XDFI on the Flare Network...World's 1st compliant decentralized futures protocol.
KYC tokenization means no centralized entity involved. Flare Time Series Oracle driven futures market. This is big! Futures are a big part of the traditional markets. Futures in crypto are by and large non-compliant, compliance must happen for traditional markets to blend with crypto markets. That is happening with XDFI...launching on Flare network...first the testnet (Coston), then Flare. And Flare provides passive income...the monthly drops, averaging 6% per month, for 24 more months...the Epoch rewards every 3 and a half days for the rest of your life. Yes, take in the monthly drops at 6% monthly...it basically means a built in 70-80% gain of the asset in one years time...purchase 100,000 coin, the monthly drops mean at the end of the year, without buying an additional coin you are sitting on 170,000 to 180,000 coins. Factor in the Epoch rewards and you're basically doubling your holdings in a year at no additional cost to you. When FAssets go live later this year another income source on Flare will open up to you as well. Multiple passive income streams all from holding the same coin...Flare...and finally...AI integration is what's coming...when? Couldn't tell you, but it's what the lead and developers are conferring about now. We're still at a low price from a fundamentals perspective...and with a crypto bull market looming which will float all boats. NFA, just someone who knows the network pretty well.
Huge bullish Flare news today:
Flare onboards @GoogleCloud
as an infrastructure provider to validate the network and contribute to the Flare Time Series Oracle.
Enshrining decentralized data delivery in a dual role with network validation is what makes Flare the Blockchain For Data
This does not mean that Flare is using Google Cloud...it means Google Cloud is a validating partner on the Flare Network.
FAssets are being tested on Coston testnet. Next stop Songbird. Then Flare. No idea of timeline, but I'm hearing maybe a year until full launch on Flare, but could be less. Songbird has been moving up based on this news. Also from what devs are saying it appears that Layercake will be easier to implement than FAssets, so that could roll out soon too. Nice developments are happening. And possibly timed to bull run.
Staking just went live on Flare Network. Currently only FLR on Ledger devices can stake, but that's just the initial rollout. I'm sure wallets like Bifrost will add staking ability soon enough. From how I understand it you can either delegate (and earn Epoch rewards every 3 1/2 days) or stake and earn staking rewards, you can't do both. Both delegated and staked FLR will still qualify you for the monthly drops. As more FLR moves from delegation to staking it should increase Epoch rewards. Parity will be achieved once 30% of FLR is staked, until then staking rewards will have higher yield than the delegated Epoch rewards. When 70% delegated and 30% staked levels are achieved then parity will mean that delegation rewards (Epoch) and staking rewards will be near the same. A welcome development. Should open the door eventually to the staking of other assets, like XRP. When FAssets and Layercake go live then Flare Network will really be something unique among crypto. And if FAssets and Layercake are announced next year after Bitcoin halving and kick off of bull run then FLR could really show us something.
I didn't vote for it either. The whole thing was handled very messy and with some level of corruption. I bought every FLR I held before the distribution began, because I couldn't access mine. And I have benefitted at the expense of other holders on Coinbase and Binance. I don't like when rules are changed mid stream, especially when the rule change screws over a class of people to benefit others. So the start of FLR is fubar, but I hope they make me money I'm the long term. I bet on it by buying. When coinbase releases FLR I'll get a boost even though the first few months of distributions and epoch rewards are lost to me.
There are different things that can be considered "excess" tokens. Example: let's say you had 50,000 XRP at the original snapshot. Your first FLR distribution would have been 7500. Each of those 7500 would qualify you to receive a further 5.666 over the 36 month distribution period. If after the first 15% but before the first 36 month distribution you had bought 7500 more FLR (this all assumes Wrapped and Delegated) you will get double the total amount of coins the XRP snapshot qualified you for. If that's what you mean by 'excess" tokens the answer is yes. But currently we are also getting "excess" tokens because even if people have FLR, if it has not been Wrapped and Delegated then it is not getting any of the monthly distribution until it is Wrapped and Delegated. For example, Coinbase nor Binance have yet to even distribute FLR to XRP holders on their platforms. So in the first monthly distribution you would have gotten 100% of the monthly distribution you were entitled to by your original 15% plus any that you bought....but you also received 30% (roughly) more tokens than you were even entitled to because so many FLR were not Wrapped and Delegated. I saw somewhere that Coinbase has FLR in their launch portal, but it can take 1,2,3, or more months for a coin to launch on Coinbase once it is on the launch portal. But for example sake, let's assume it takes at least a month for Coinbase, Binance, and the other smaller exchanges that have not distributed to finally distribute: the April distribution will again be about 130% of what we are entitled to by the first 15% and any we bought early on. Then if Coinbase only lists after that and assuming Coinbase holds roughly half of the undistributed tokens then the May distribution should be around 115% of our entitled amount. This also assumes that you don't sell any of the distributions. I mean, sell some whenever you want to take profits, but that will decrease the next months distribution amount you would have gotten. This is a simplified explanation because exact numbers are also affected by the inflation rate, etc, etc. Because even WFLR you receive in each Epoch for rewards will also go towards your next monthly distribution amount.
Bifrost Wallet. Wrapped and delegated.
Most of the market is dropping, so I think it's more connected to that. Although I am concerned with price dropping as 700 million new tokens hit every month. They gotta get Layer Cake and FAssets running, and get some business on the network or it certainly will drop over time. I'm actually buying Songbird at these levels, at least with it we know there is no more coming.
I think price long term depends primarily on Layer Cake and FAssets. If they get those developments functional then I think it'll do great. If not it'll be like any other third rate crypto that will move up and down based on overall market and various pumps and dumps. State Connector is farther developed than I had thought. They recently minted NFTs on Flare using both XRP and Doge. State Connector alone is superior to regular EVM chains like Ethereum and Solana, but if they can get Layer Cake and then FAssets functional then I think Flare will take a significant percentage of the smart contract space.
First monthly regular distribution of FLR scheduled for March 17th.
Snapshots start 23 days prior. Three snapshots within the 23 day window (every month), your monthly distribution is based on an average of your three snapshots...every month for the next 36 months.
First monthly regular distribution scheduled for March 17th.
Snapshots start 23 days prior. Three snapshots within the 23 day window (every month), your monthly distribution is based on an average of your three snapshots...every month for the next 36 months.
https://flare.network/fip-01-reference-guide/ for all the details/
1/27/23
FIP.01 has passed, with 93.8% of votes in favor of the proposal. Analysis and implementation timetable to follow next week.
Short term it doesn't look good. The only bright spot is that the tech is superior to current options, so over time it should do well. For example, at one time Ethereum held like 95% of all smart contract transactions, currently it is something like 55%, with Solana, Avalanche, Atom and others having taken much of the transactions from Ethereum. Flare's Layer Cake is something I consider particularly promising. It makes bridges far more secure and functional. Ethereum, Solana, Avalanche, Atom...all these are very stable platforms, but bridges between them is what is routinely hacked...for millions of dollars worth of value each exploit. Flare's Layer Cake bridge system should make the bridge just as secure as the platforms are, the Flare platform itself particularly. It is innovative in some other ways, but the bridging aspect looks a huge advantage to me. So, over time, I do expect this to be valuable. I know we've waited over two years at this point. I'd say we have at least another 2 years before we really see what it can do.
Several things were handled in a muddied fashion, from beginning up til now. I hope these missteps cease, and the network builds out. When they get FAssets running and Layer Cake, then I think it will really take off. But I fully expect price drop and lagging for awhile. Although one dynamic that I just understood may help the price some: I at first thought that the remaining 85% distribution was connected to tokens you owned, wrapped, and delegated prior to the vote...but to my understanding ALL future monthly distributions of the remaining 85% distribution are connected to whatever tokens you have delegated in any given month. So for example, they take the first snapshot of delegated tokens...the next month you will receive an appropriate amount of FLR based on that snapshot. But if before the NEXT snapshot you sell all your FLR...you won't get any further FLR as part of the distribution model. In essence, there will be random snapshots for the entire term of the remaining 85% distribution. So, no one can buy them now, wait til the vote passes, then sell them all. They may qualify for one months distribution that way, but nothing further. To get maximum benefit over the next three years, one must hold their tokens the whole time. And buying more over the next 36 months will also continue to increase your overall distribution over the entire distribution time. I don't think this is widely understood and there will be a sell off after this proposal passes, but then demand should start to pick back up as people understand this aspect. For example, and I think this is fairly close, but I could be off a little....right now every token you buy will entitle you to 5.6666666 more tokens spread over the next 36 months, assuming you hold them all for the entire distribution time. But lets say you buy a token one year from now...one third if the distribution time has been traversed...so each token bought one year from now (holding it for the remaining 24 months) will qualify you to get 3.78 more tokens in the next 24 months from that time. Buying a token in two years will qualify you to receive 1.88 more tokens over the remaining 12 months of the snapshot. So some natural demand is built into how the distribution works. Assuming the vote passes, which it is safe to say it will at this point....981 million For 49 million against, with a couple more days to go.
You connect your Bifrost wallet here:
https://portal.flare.network/
to vote.
Voting on FIP01 has only been open for a few hours. The vote currently stands at:
For
296104089 / 307976022 (96.15%)
Against
11871933 / 307976022 (3.85%)
Voting on FIP01 has only been open for a few hours/ The vote currently stands at:
For
296104089 / 307976022 (96.15%)
Against
11871933 / 307976022 (3.85%)
Exfi is to Songbird as DFLR is to FLR as far as the airdrops. Exfi and DFLR are both Flare Finance tokens. Flare Finance is not Flare Network, but built on top of both Songbird and Flare.
Flare Twitter post from two and a half hours ago:
Flare @FlareNetworks
The 66% distribution threshold for the vote on FIP01 has been crossed. The 1 week notice period starts now. Voting will start in 1 week’s time and the voting period will last a week. Guides and information on how to vote will be released prior to the start of voting.
Lots of exchanges now, but for Americans...best options may be Bitrue or Uphold.
I completely agree! It's shady. And it's going to pass, so I'm operating now as if that's what is happening. I'll end up with far more FLR than the snapshot qualified me for.
https://investorshub.advfn.com/Spark-FLR-FLRUSD-39141
Separate Flare Network board already live.
XRP, XLM, LTC, DOGE, ALGO, FIL and BTC are all currently FAssets, useable on the Flare Network. Other coins will be added with governance votes in the future. First vote up soon is the Flare Improvement Proposal 01 (FIP.01), no date announced yet. If that vote passes the distribution model will be changed from the existing one where the remaining 85% distribution goes to the snapshot wallets, to a model wherein the current coin holders will get the remaining 85% distribution. If you sell now, you may lose the rest of your distribution. If you buy now, each bought coin will make you eligible for a further 5.66666 coins over the distribution time-frame of two and half to three years....if the vote passes. But it most likely will, the incentive structure heavily favors it. GLTA
Still lots of talk about Flare on the Ripple board, but this will be the place ultimately.
Welcome to soon arriving new members! I've waited patiently for this to drop and we're finally here!
It's live! Let's get this started!
I'm wondering that as well. I don't think it has been definitively answered yet. I get the feeling that Uphold is going to make it possible to Wrap and Delegate from within your Uphold wallet, but not 100% sure of that yet.
No price quotes yet. But it just went live a few days ago. A lot of trading volume. Huge dump right after launch. Went down to .026, but has settled in a channel close to .044. The thing now is the Flare Improvement Proposal 01 (FIP.01) that has yet to be scheduled for a vote, but changes the distribution model. Currently 15% of snapshot amount was recently dispersed. The remaining 85% was originally to be going to the same wallets registered at the snapshot, and that's how it remains until the vote. I believe the vote will pass, every incentive for those who have the coins, and so the votes, to vote yes. If it passes, the remaining 85% of the distribution will go not the original snapshot holders but to the current coin holders. So those who sell their original 15% distribution will not get the remaining 85%, if the vote passes...instead whoever bought their original 15% will get the remaining 85%. Long and short is that if the vote passes, each coin bought right now will also make you eligible for a further 5.666666 coins over the distribution life-term (2 1/2 to 3 years). So the current price of .0431, if the vote passes, actually equates to a cost per coin basis of .0065. Not to mention the use case and functionality of the Flare Network. I'm buying them up as I move money around. At some point they will announce the date of the vote, and I plan to buy until that date. But know in advance that you must buy them, move them to a supported wallet, and in that wallet wrap the coins and delegate them to an FTSO provider on the Flare Network. That qualifies you to the remaining 85% distribution (if the vote passes) as well as to Network rewards every Epoch (every 3.5 days). As far as I'm concerned it\s the hottest thing going right now. Forget that it took them way longer to launch than originally anticipated, now that it is live I think it's hot right now, and will be even hotter as the use case fleshes out on the Network. GLTA
Anyone still around from when this was WNTR? Y'all know the score.
July 4th launch...hopefully.
I was responding to the other guy, see the question marks at the end of my sentences. I was surprised he hadn't heard of the indicator. Of course it's valid. He obviously has no idea what he's talking about.
Seriously?! Accumulation/Distribution indicator??? Never heard of it?
Now $1.49
4.5s being bought....you know what this means. MMs. They can't buy 4s. They don't wanna pay 5s. They're buying 4.5s. MMs don't buy at 4.5 when it's gonna go lower. This is your loading zone right now at 5, cause you can't do what MMs do. But imagine selling your 5s, when the MMs are buying up 4.5s getting ready to take this up.
5.7 billion accumulation. That is up from 1 week ago. People aren't understanding this. The 150 mil sitting at 5 can be destroyed in 10 minutes when MMs are ready to take this up.
With no news of any kind, I think we see a double from here soon. Especially with the Stimulus on the way. 5's can be bought now and I think it sees low teens within a couple weeks at latest, maybe sooner. With news...hold on tight!
5.4 billion accumulation, 4.6 billion of that in the last month.
Verified fake Twitter. Sorry folks. I had a few million here from a long time ago. Was considering buying more so did some digging.
https://sunriseconsultinggroup.net/
is SNRS company's website
http://scgroup.us/
is the website of a lobbying firm that unfortunately shares the name "Sunrise Consulting Group. And it is that website that the Twitter account stole it's logo from, probably did a quick look around their website to see that this company...which is NOT SNRS...does lobbying work and does have government contracts, and are quite active in political lobbying in Florida.
In my research I came across this:
https://www.zoominfo.com/c/sunrise-consulting-group/451431869
On first look I got a bit excited because of the Revenue numbers. And there was a phone number. Called it last night and got answering machine. Called this morning: Asked if this was Sunrise Consulting Group. His first response was "Not the one selling stock." I asked if he knew about the twitter account. He said "Yes...but I don't know what to do about it." And he is deflated...because there are I'm sure lots of calls coming in to them about SNRS, not their actual business.
So the Twitter is a complete fake. OTC stocks move on nothing, so this will do whatever it's going to do...but there are no government contracts coming in, no getting current with the SEC, none of anything the Twitter account is saying. The Twitter account is unloading it's 1's for 3 and 4.
I'd say call the number yourself (727) 808-4131. But you know the deal now. These people should be left alone. But in interest of transparency...which your not getting with SNRS...I've given you the website link and phone number. I wish SNRS was the Sunrise Consulting Group in Florida, I'd be buying up 3's, 4's, 5's 6's and more. But it's not...SNRS website is
"Meal Reviews that you can trust" not an active lobbying firm.
I am in no way saying SNRS the actual company is the Twitter scammer. I have no idea who the Twitter is. SNRS may or may not be doing any business. Either way they have not kept their shareholders informed enough to make reasonable decisions about investing in the company.
But he Twitter is fake. Absolutely verified fake by the Sunrise Consulting Group whose logo they stole to put on the Twitter account. Sorry folks, this looked good, but it isn't