What is Flare (FLR)

1. Project Introduction
Flare is a Layer-1 blockchain that enables secure universal interoperability between chains by allowing the free flow of digital assets and on-chain information across blockchains. Leveraging its consensus protocol with external data, decentralized applications on Flare can securely and trustlessly access and utilize data from other blockchains and real-world sources, addressing the oracle problem and ushering in a new era of utility. Flare Network itself is a smart contract platform compatible with the Ethereum Virtual Machine (EVM) and includes additional components to support asset mapping for non-smart contract platforms. These mapped assets can use Flare's smart contracts to provide smart contract services to other non-smart contract blockchains.
2. Team & Investment Info
Team:
Hugo Philion: Co-founder and CEO of Flare Networks, founder of Future Generations, and former portfolio manager for commodity derivatives, managing two $1 billion+ funds.
Naïri Usher: Chief Scientist, previously a postdoctoral researcher at the UCL Queensland Machine Learning Center and collaborator with Siemens on applying quantum algorithms in healthcare and image recognition.
Funding:
In June 2021, Flare raised $11.3 million from investors including Kenetic Capital, CoinFund, DCG, LD Capital, Borderless Capital, Wave Digital Assets, Backend Capital, cFund, Charlie Lee, and Do Kwon.
In 2024, Flare raised an additional $35 million from investors including Kenetic Capital and Aves Lair.
3. Social Media URLs
X: https://x.com/FlareNetworks
Telegram: https://t.me/FlareNetwork
Discord: https://discord.com/invite/flarenetwork
4. Token Info
Token Symbol: FLR
Total Supply: 102,495,455,949 FLR
Token Type: Native mainnet token
Issuance/Burn Mechanism: Dynamic issuance
Token Distribution
No supply cap. The initial supply was 100 billion FLR, with subsequent issuance at a decreasing inflation rate solely to incentivize validator nodes.
Initial Supply Allocation: Approximately 40% to the development team, 10% to early investors, and around 50% to Flare Network users via airdrops and other methods.
White Paper: https://docs.flare.network/
5. Related Links
Official Website: https://flare.network/, https://portal.flare.network/
Other Info: https://www.rootdata.com/Projects/detail/Flare%20Network?k=Mzc1
GitHub: https://github.com/flare-foundation/