Coinbase, a leading cryptocurrency exchange, has initiated the distribution of the Flare (FLR) token airdrop to eligible users who held XRP during the December 2020 snapshot. This move fulfills the exchange’s earlier commitment to support the Flare Network’s airdrop program.
Who Is Eligible for the FLR Airdrop?
Users who meet the following criteria will receive FLR tokens:
- Coinbase Customers: Both simple and advanced trade users.
- Coinbase Exchange Users: In authorized jurisdictions.
- XRP Holdings: Held XRP on December 12, 2020 (snapshot date).
Distribution Timeline
- Processing is expected to take 72 hours.
- FLR tokens will be credited to user accounts once completed.
- Temporarily Disabled: Outbound transfers for FLR during distribution.
👉 Track Your FLR Airdrop Status
Trading and Availability
- Inbound Transfers: Already enabled on Coinbase in supported regions.
- FLR-USD Trading: Will launch in phases after sufficient liquidity is established.
Coinbase emphasizes that FLR trading will be announced once distribution concludes.
Why This Matters for the XRP Community
The Flare Network’s airdrop has been a long-awaited event for XRP holders, reinforcing the connection between XRP and FLR. While this distribution marks progress, the XRP community continues advocating for Coinbase to relist XRP for trading.
Background on XRP’s Delisting
- January 2021: Coinbase suspended XRP trading following the SEC’s lawsuit against Ripple Labs.
- Ongoing Demand: XRP holders urge Coinbase to resume support.
Flare Network’s Airdrop Structure
Flare Network’s 36-month distribution plan is underway:
- Initial Drop (January 2023): 4.279B FLR distributed.
- Monthly Drops: 35 distributions of 676M FLR + 1 final drop of 584M FLR.
👉 Learn More About Flare’s Tokenomics
FAQs
Q: How do I check if I’m eligible for the FLR airdrop?
A: Eligibility is based on XRP holdings during the December 2020 snapshot. Review your Coinbase transaction history or contact support.
Q: When will FLR trading go live on Coinbase?
A: Trading will begin after distribution concludes and liquidity conditions are met.
Q: Can I transfer FLR tokens out of Coinbase immediately?
A: No—outbound transfers are temporarily disabled during distribution.
Q: Why was XRP delisted from Coinbase?
A: The suspension followed the SEC’s legal action against Ripple Labs in late 2020.
Q: Will Coinbase relist XRP in the future?
A: No official announcement has been made, but community pressure remains high.
Key Takeaways
- Coinbase is distributing FLR to eligible XRP holders.
- Trading will launch post-distribution.
- The XRP community seeks relisting amid ongoing legal developments.
For real-time updates on cryptocurrency airdrops and exchange listings, stay tuned to trusted sources.