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Re: MindlessSelf post# 17

Thursday, 01/12/2023 9:25:39 PM

Thursday, January 12, 2023 9:25:39 PM

Post# of 147
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
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