Introduction
San Francisco-based cryptocurrency exchange Coinbase has reaffirmed its commitment to distribute Flare Network’s FLR tokens to eligible XRP holders. The airdrop, tied to a December 2020 snapshot, will be supported in the first half of 2023, as confirmed in a recent Coinbase announcement.
👉 Learn more about FLR token eligibility
Key Details of the FLR Distribution
1. Eligibility Criteria
- Snapshot Date: December 12, 2020 (00:00 UTC).
- Qualified Users: XRP holders on Coinbase (including Advanced Trade and Exchange) in supported jurisdictions.
- Exclusions: Germany, Japan, New York, Singapore, and institutional accounts.
2. Distribution Timeline
- Expected completion: First half of 2023.
- FLR trading will be enabled in most supported regions, pending regulatory approvals.
"Coinbase intends to honor our prior commitment to support Flare Network’s FLR airdrop."
— Coinbase Assets (@CoinbaseAssets)
Flare Network’s Response
The Flare Network team publicly thanked Coinbase for its commitment:
- Community Reaction: Celebrated as a milestone for XRP holders.
- CEO’s Stance: Hugo Philion had previously noted delays in Coinbase’s communication but acknowledged the latest update as progress.
Challenges and Controversies
Songbird (SGB) Distribution Delays:
- Coinbase has yet to distribute SGB (Flare’s testnet tokens) to eligible users, raising concerns.
- Prominent figures like BitBoy Crypto criticized the exchange for inactivity.
Unconfirmed Exchanges:
- 12 exchanges, including Binance.US, remain unconfirmed for FLR support.
- 25 platforms (e.g., Binance, Bithumb) have committed to the airdrop.
FLR Airdrop: What to Expect
- Date: January 9, 2023 (unchanged).
- Preparation: Flare Network published a list of supporting exchanges to ensure transparency.
👉 Stay updated on FLR token news
FAQ Section
Q1: Who qualifies for the FLR airdrop?
A: XRP holders on Coinbase during the December 12, 2020, snapshot.
Q2: Which regions are excluded?
A: Germany, Japan, New York, Singapore, and institutional accounts.
Q3: When will FLR tokens be distributed?
A: First half of 2023 (per Coinbase’s estimate).
Q4: Why hasn’t Coinbase distributed SGB tokens?
A: No official explanation; delays have sparked community criticism.
Q5: Is the January 9, 2023, airdrop date confirmed?
A: Yes, Flare Network plans to proceed as scheduled.
Conclusion
Coinbase’s confirmation marks a pivotal step for XRP holders awaiting FLR tokens. While challenges like SGB distribution delays persist, the exchange’s commitment aligns with Flare Network’s roadmap. Users should monitor updates for jurisdictional eligibility and distribution timelines.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
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