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.
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.
$FLR
.
Upon claiming, the $FLR
entitlement is sent directly to the claiming address or to its Personal Delegation Account (PDA), if it is enabled.
When claiming to the PDA, tokens are automatically wrapped into $WFLR
.
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:
- 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. - 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!