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The FlareDrop#

The FlareDrop, previously called the Delegation Incentive Pool in the FIP.01, is a distribution method for the 24.25B remaining $FLR tokens after the original airdrop. It will last for 36 months and is destined for any holder of wrapped $FLR ($WFLR) that participates in the network as per the FIP.01.

If you enabled your PDA and it contains $WFLR, it is also eligible to receive the FlareDrop distribution. Make sure to check both your Main Account and your Delegation Account for FlareDrop to claim.

How Is the FlareDrop Distributed?#

The FlareDrop is distributed monthly over 36 30-day bank months to those that wrap their $FLR tokens. Each of the first 35 monthly allocations constitute 2.37% of the total FlareDrop, and the last one 2.05%.

The total amount of $WFLR is calculated each month, and the monthly allocation is distributed among all $WFLR holders proportionally to the sampled average of their $WFLR balance. Users then receive an amount equal to their month's sampled $WFLR holdings divided by the month's total $WFLR, multiplied by the monthly allocation.

Calculating an address's sampled average balance

As each bank month passes, the FlareDrop receives a trigger to choose 3 random blocks in the previous 23 days. The FlareDrop smart contract then finds the average of the total $WFLR reported in those blocks and determines each address's percentage of the FlareDrop.

3 Week Average $WFLR
3-week average of wrapped $FLR.

Upon claiming, the entitlement is sent directly to the account you claimed from. It is sent as $FLR to your Main Account and as $WFLR to your Personal Delegation Account (PDA). Each distribution expires two bank months and a week (67 days) after it becomes claimable and expired tokens are burned.

To ensure having no effect on the amount of $FLR that each claiming address receives, Flare Foundation and team addresses opt out of the FlareDrop distribution.

Two steps to ensure receiving all your $FLR !

You must:

  1. Wrap $FLR to receive it. Rewards are proportional to the $WFLR balance, not $FLR, so always wrap as much $FLR as you can! Wrapping has no downside: Wrapped tokens continue to be available for delegation and governance voting, for example, and they can be unwrapped at any time.
  2. Claim before the distribution expires. After the distribution becomes claimable, it expires in two bank months and a week (67 days).

You can also enable automatic claiming to make sure you don't miss any FlareDrop! Autoclaiming will claim for both your main account and your PDA if you enabled it.

Last update: 2023-09-28