Flare

Summary

Flare (FLR) is a Layer-1 blockchain founded by Hugo Philion focused on cross-chain data oracles (FTSO) and interoperability, with deep roots in the XRP ecosystem. The FLR token airdrop to XRP holders was delayed two years (snapshot Dec 2020, distribution Jan 2023), crashing 83-87% on launch day. Critics noted the airdrop delivered only 15% upfront rather than the expected 1:1 ratio. Protos reported the network attracted just 80 new users per day despite its billion-dollar valuation. A Flare 2.0 upgrade targeting TEE-based confidential compute is planned for Q3 2026. Current metrics show ~860K active addresses, ~500K daily transactions, and ~$200M TVL.