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About This Club

This is a club for discussion of anything and everything related to the Flare Network, including Flare Finance, F-Assets, Gala Games, NFTs, airdrops, etc.
  1. What's new in this club
  2. This was the original Flare plan (Ripple invested on this plan that never fullfiled, now they are no longer an investor): "Flare’s native token will be an algorithmic stablecoin created in part by burning XRP, and payments for a contract can be made and received in XRP via Interledger, which will be integrated with Flare. Flare will also use the XRP address and encryption system to provide XRP users with a virtually seamless way of interacting with smart contracts on the Flare Network." -Nov 5, 2019 Source: https://ripple.com/insights/investing-in-flare-networks-2/ I still think there is room for a new team able to produce an algorithmic stablecoin that burns XRP.
  3. Ripple invested in 2019 for a Flare system that would "burn XRP" as a way to pay a smart-contract mechanism. And Flare developed a smart-contract chain that will treat XRP the same as it will treat DOGE, LTC, etc etc etc. Another example of Ripple ventures and betrayal Source: https://ripple.com/insights/investing-in-flare-networks-2/
  4. Hello all, sorry I haven't been around here much lately, but when there is nothing to do but wait I usually focus elsewhere to prevent spinning my wheels and getting frustrated with crypto. Once this thing finally gets going there will be much more activity I guess. Anyway someone messaged me asking about the current state of affairs with Flare so I thought it would be good to put a simple update here for anyone who hasn't checked in in a while. As of today (Sat 24th September 2022) the Flare network is still launched under observation mode. Control of the network is being transferred to validators so that the network launches decentralised. As far as we know this process is ongoing and not yet complete. When it is completed the network will actually launch. The Flare Team has announced that they will publicly released the code base for the network as the next step before launching fully. According to Hugo, the code base has already been given to exchanges so they can prepare themselves for the airdrop distribution. A date for the distribution has not been set, although a 'deadline' of sorts has been set for the end of January. In other words, the distribution will happen sometime in the next three months. The Flare Team has also proposed a change to the remaining distribution (not the first 15%, but the remaining 85%). The details are here. It is complicated and it seems there are pros and cons but for me I am not interested in discussing it until the actual launch of the network. We don't know the network activity, engagement, price, exchange situations, exchange listings, anything. Talking in the abstract can only take you so far, and to be honest I'm burned out on talking about hypotheticals and abstractions with this network. As for why it is still delayed, the team will say that things are being checked thoroughly and carefully and there's no rush etc. I don't know what it's like to launch a project like this, so I don't know the details. The person who messaged me asked what my take is on Flare and are my hopes still high. So I'll include my thoughts below. Like everyone, I am frustrated with the delay. Much of the initial 'hype' that I had has gone, but that's not to say it won't come back when something actually starts happening. I still have high hopes for Flare, I am still invested, not planning to dump or sell or anything. I still think Flare is going to be big. However as I said above, I'm burnt out on hypotheticals. Songbird was a nice practical introduction but even that basically stopped at the first hurdle. I had hoped we would be messing around with S-assets and stuff in the last year before the main net came up, but that hasn't happened. The main attractions of Flare like the state connector, F-assets, and layer cake are still mysteries to us all. However at the same time I have been affected by the wider sentiment in crypto and the economy as a whole. It is obvious that the economic position for the next few years is not going to be good in the developed world, and this will undoubtedly put the damper on crypto a little too. Also the SEC/XRP case just never seems to end. I've stopped following it. There's only so many Jeremy Hogan videos you can see in which something HUGE happens followed by nothing changing that you kinda get desensitised. So I feel like crypto is in cryogenic sleep at the moment. I expect BTC to bottom out around 15k (blood in the streets phase) before maybe it starts going again. But honestly I don't care about it. I will happy when Flare launches because I think over the next few years we will see a lot of developments and projects and stuff. But if the economic situation in the world is dire then crypto might've also lost a lot of steam by then. How many people are talking about DeFi when people are worried about affording to heat their homes or fill up their car? Anyway, I'm rambling. TLDR is Flare is still coming and I'm still expecting it to be successful. But I just wish, you know, it would actually launch.
  5. Do I understand it right: Ripple ivested 11M into Flare, basically gave them XRP to inventivise XRPL network? Or how it happened?
  6. It doesn't mean you will get the rest of YOUR 85% that you could see as a fixed FLR claim related to your XRP account using services like bithomp. If the proposal is aproved (and you can count on it, since Flare and their proxy's will vote yes) you will need to wrap your FLR and will get some FLR airdroped each month but NOT necesarily related to your XRP Claim. Anyone that wraps FLR will be elegible but the "85% airdrop pool" is a fixed amount, so...
  7. Well january 2023 is not too bad, i dont expect to miss out on a bull run till then. Forgive me my ignorance but i wont have to wrap FLR to receive the remaining 85%, right? Every xrp holder who claimed flr will still receive it based on the amount of xrp held at the time of the snapshot?
  8. I think Flare Network signed distribution agreements for FLR with exchanges mentioned on their page (they did not sign any agreement related to SGB, that's why certain participating exchanges did not distribute it). I don't think they can keep it and not distribute without risking a lawsuit. There are however certain special cases, like Celsius. Flare Network said they will get the FLR distribution (because they wont change the distribution code), but since Celsius is on Chapter 11 they wont let users cash out. Also there should be some formal claim towards those FLR during the bankruptcy process or else those could be cashed out by whoever is controlling FLR's accounts on Celsius.
  9. Assuming this will still exclude anyone who claimed via Coinbase right? Since they've been doing the SEC's bidding against XRP holders for a while now...
  10. You will only get a 15% airdrop (sometime this month or next month) compared to that amount (same as the SGB airdrop). The remaining 85% will not be distributed until at least January 2023. They have a "proposal" FIP.01 that will be open to any FLR holder for voting (not only the current airdrop beneficiaries) so you can count on it to pass (it's a mere formality). Under this new "proposal" that remaining 85% will constitute a pool and people wrapping FLR will receive monthly airdrops in proportion to their WFRL holdings.
  11. Wait what did I miss -- does this mean we only are going to receive 15% of our claimed FLR? If true, why? My XRP wallet still shows 100% of claimed FLR tokens. I dont know if there really is costant bashing of Flare social network team towards the community, but honestly, 80% the XRP community on twitter are toxic hypsters, jumping on everything and everyone not agreeing with them. A cult in its worst sense! As far as I have understood FLR, it was always about bringing in as many projects as possible. Interoperability is key and the more projects involved the more benefits to the whole ecosystem (including the projects involved). So its still good for XRP, no? Also, I didnt even know ripple was an investor in FLR
  12. Flare Network is not under SECs scrutiny. Ripple just divested from Flare and of course if they are asked in public they would just reply with the usual business jargon. Anyway this is a "Flare Club" BUT on a XRP forum. My focus (on this forum) is how Flare Network adds value to the XRP ecosystem. And of course with this "news" I don't think (from now on) there will be no special added value for XRP compared with say DOGEcoin or whatever. The current situation: Do Kwon (the face of the Terra-Luna fiasco) is an investor on Flare and Ripple is not. On the other side, collusion activity involving xToadz FTSO has been discovered. xToadz CEO is very close to Hugo Philion. Allthough it is not the first time a group of FTSO's have been found colluding, this time the bullets are pretty close to Flare Network HQs. Current SGB price is at USD 0.0205 It's like a series of "bad news" alltogether contributed to the current situation. Let's hope all of that is already "priced in" and from now on there is a more promising horizon. But sometimes projects surrounded with bad actors, never recover and perish.
  13. Absolutely true. However, as we have seen in this thread, people decide they know the reason and then build assessments based on that. I’ve lost count of the number of times over the years I’ve seen people dead certain they know why something happened without any evidence beyond the nice fit into their paradigm.
  14. I doubt Flare was scared. Flare isn’t a US business. But I suppose it’s possible Ripple ceased its investment post lawsuit. The relationship could have also ended for other reasons. It may be that being a developer on XRPL and also to be involved with Flare might be a conflict of interest given the upcoming proposals on XRPL. Or it could be that Flare sought out investments from various places and Ripple may have been an early investor to help support the team but probably didn’t want to explore that further once Flare got serious funding.. Or it could have just been a developer grant like with other developers, and Flare may not have opted for additional funding… It’s all conjecture. We’ll never know, I guess, unless Flare or someone from Ripple tells us.
  15. Maybe, just like Moneygram, the SEC case scared Flare from working closely with Ripple?
  16. 5 years ago Ripple wanted to privilege a simple set of functions for XRP that translates into a faster performance (a greater TPS). The F-XRP idea to manage smart contracts and DEFI for XRP but on a separate chain was the reason for Ripple to invest on Flare Networks. Now they finished the investor relationship with Flare. On the other hand the XLS-20 and the AMM features for the XRPL will provide those kind of functions. For some reason the added features will not significantly impact the performance of the network or Ripple now consideres the impact on the performance is not a concern now.
  17. @******my post here isn’t about your conclusion. I wanted to point out that you are, perhaps unintentionally, presenting part of the Gary Gensler view of crypto. You are expecting specific disclosures from private companies that have no obligation to you, because you feel that they do have that obligation. That technically would imply an implicit sale of investment contract and an expectation of profit per SEC’s current theory in courts. I personally don’t think there is any disclosure obligation in today’s law but I do agree that there should be some level of disclosure on certain kind of relationships and how they might drive network development. For example, if investment from Algo or Litecoin is the reason to expand the scope or if Ripple withdrew their investment because they are proposing an EVM side chain anyway - it would be valuable for network participants. But whether that should be law vs something that should be left to the network to figure out for itself through participation is the question, I guess.
  18. Twitter handle @King_phil_3 has presented evidence of collusion between four FTSOs providers, namely: * sToadz FTSO ( 0x879Fb0b354733674FD403286eBb2eB17EF97E5Ae ) * O1 FTSO ( 0x229458a754cd1aeba8a0c87f59e22777d593b85a ) * Ad Owl FTSO ( 0xad6f97449d5d7c6c191b58792137e6204bd0538f ) * "Ape FTSO" The evidence was uploaded by @King_phil_3 to google docs: https://docs.google.com/spreadsheets/d/1k9TUNSUEIjyLt90nZdnZ2x4W_xhGHo3tcdRW_u231L0/edit#gid=0 The four FTSOs aparently share the same Bitrue account. Not only collusion affects the data integrity of the network but also create sell pressure as they are selling most of the (extra) rewards.
  19. I'm not closely following all their social networks either, just following twitter, telegram and discord not so much. That's why I'm not 100% sure the "Ripple is no longer an investor" was a "breaking news" from them on Telegram or not (but for me personally it was). To perceive (or not) said hostility towards the XRP-Community you should interact with their social networks, else I can't quote you anything more than the "2020 XRP airdrop beneficiaries are free-riders" messages. I really would recommend you to just read their social networks. I am actually thinking on posting here an "alternative proposal" that would contradict the "we are doing this proposal to neutralize the free-riders that will sell FLR the minute their receive the airdrop the same way they did with SGB" but wont redirect the airdrop pool to new participants and see how they react towards a community proposal...
  20. Thanks for that. A sensible and reasonable explanation for why you have that view. You follow all this much more closely than I do, so I’ve not seen all the hostility that you refer to. I am not doubting your experience of it, but would like to see some for myself to get a sense of how strong it is. I’m not a fan of all of Hugo’s messaging or some of his earlier statements so would like to see if they are now more antagonistic than I was aware of. Do you have any quotes or links? I’m not on telegram or discord and won’t be going there, so any quotes or links would be appreciated. I realise that you and I have disagreed on stuff, but I value discussion and logic without personal attacks, so appreciate you placing your views here for the rest of us to consider. I think my previous post was fractionally straying into attacking your nature rather than your argument so I apologise for that. I thought that it needed to be said that other explanations could exist rather than the one you ascribed, but there was no need for me to say anything beyond that fact. Anyway, if you can show any quotes that highlight this animosity from Flare towards the XRP community I (and probably others) would appreciate seeing it.
  21. Of course not, but Ripple got out a Flare and we "peasants" didn't know about that, only insiders. I had NO explanation for the shift of the project from XRP-Centric to non-XRP-Centric. And I had NO explanation for the increased hostility of Flare Team towards the XRP Community. Now I have a plausible explanation for their behaivior.
  22. You are the master of conclusion drawing. Are you absolutely sure that’s the only possible conclusion? If I could think of another possible reason would that undermine your confidence in your view? (I already know the answer…. No. Because once drawn, your conclusions never need reconsidering…)
  23. Money talks. If Ripple is OUT of Flare it means there is something they don't liked about the direction of the project. Also Hugo or Flare as a team have less incentives now to appeal to the XRP Community. Actually the "proposal" is to take out 85% from the XRP-Airdrop pool and "recycle" as an incentive for NEW participants (instead of using Flare's FLR for that). Since Ripple is no longer a Flare stakeholder, there is no insider to protest that move. They are actively pushing the "XRP Airdrop holders are freeriders" narrative, when they themselves were the recipients of Ripple's money when this entire Flare act was just an idea on paper.
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