Flare (FLR), launched in July 2022, is the native token of the Flare Network, an EVM-compatible Layer 1 blockchain designed for decentralized data interoperability. Flare enables developers to build dApps with access to high-integrity data from other blockchains and the internet, supporting use cases like DeFi, RWAs, and social networks. FLR powers transaction fees, staking, and governance.

Key Features

  • Data Interoperability: State Connector and Flare Time Series Oracle (FTSO) provide decentralized blockchain and Web2 data for dApps.
  • FAssets System: Enables non-smart contract tokens (e.g., XRP, DOGE) to be used in Flare’s smart contracts.
  • LayerCake: Facilitates cross-chain bridging for seamless asset transfers.
  • Ecosystem: Includes DeFi (Flare Finance), staking (FLRETH, $3M TVL), and partnerships with VivoPower ($100M XRP deployment).

FLR Token

  • Purpose: Used for transaction fees, staking, governance, and delegating to FTSO data providers.
  • Supply: Circulating supply of ~68 billion FLR, with a max supply of 100 billion.
  • Contract Address: Native to Flare Network,
  • coingecko cmc.

Who Are the Founders of Flare?

Flare was founded by Hugo Philion, Sean Rowan, and Dr. Nairi Usher, who met at University College London studying machine learning. With $250M+ raised from investors like DCG and Kenetic, the team launched Flare’s mainnet in July 2022, followed by a public token distribution in January 2023.

What Makes Flare Unique?

FLR and Flare Network stand out for their data-centric design:

  • State Connector: Acquires event data from blockchains and Web2 APIs, with independent attestation providers ensuring consensus.
  • FTSO: Delivers decentralized price feeds for dApps, reducing reliance on centralized oracles.
  • XRPFi Focus: Integrates XRP for DeFi, with VivoPower deploying $100M in XRP for yield generation.
  • Wrapped FLR (WFLR): Enables delegation to FTSO providers and governance, with $1.17M in 24-hour trading volume.

FLR Network Upgrades (2025)

  • BitGo Partnership (June 2025): Added FLR and SGB custody, enabling institutional staking.
  • EasyA Campaign (June 2025): Launched #60DaysOfFlare to onboard developers via hackathons.
  • VivoPower Deal (June 2025): Deployed $100M XRP for DeFi yield, boosting XRPFi adoption.

How Is FLR Secured?

FLR and the Flare Network are secured through:

  • FBA Consensus: Uses Avalanche protocol for scalable, decentralized security without economic penalties.
  • Staking: FLR holders stake to validators, securing the network and FTSO data feeds.
  • Governance: WFLR holders vote on protocol upgrades and policies.
  • Audits: Regular smart contract audits ensure dApp and FAsset safety.

Conclusion

Flare (FLR) powers a data-focused L1 blockchain, enabling interoperable dApps with decentralized data access. Its FAssets, LayerCake, and XRPFi initiatives position it as a DeFi and RWA leader.