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Flare airdrop token distribution to take place between October 24th and November 6th


Seoulite
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Hi all, long time no see. Posting this here in General as a lot of time has passed and a lot of people eligible for the airdrop have likely stopped following Flare news (wouldn't blame you). 

But FINALLY we have a date (kinda) for the airdrop token distribution.

The Flare team has released an official blog post: https://ko.flare.xyz/tde-schedule/

The main takeaway is that if sufficient validators are onboarded in time, the 15% token distribution will take place on some day between October 24th and November 6th. The codebase was released to exchanges a little while before it was made public, so that they could prepare for the distribution. I think there seems to be some problems still with some exchanges but I know the Flare team is in contact with as many exchanges as possible to make the distribution happen smoothly.

The first 15% will be distributed, and then there will be a whole lot of complicated talk about a governance proposal vote about changing the remaining distribution. I won't go into that here. My advice is don't worry about the governance vote for now, just make sure you can get your tokens wherever you are eligible to get them and then do what you want with them. We have waited long enough, but it's almost here.

 

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25 minutes ago, Seoulite said:

The first 15% will be distributed, and then there will be a whole lot of complicated talk about a governance proposal vote about changing the remaining distribution. I won't go into that here. My advice is don't worry about the governance vote for now, just make sure you can get your tokens wherever you are eligible to get them and then do what you want with them. We have waited long enough, but it's almost here.

Thanks for sharing.

One question, could it be possible that we wont ever get the remaining 85% due to the changes on the distribution? 

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5 minutes ago, VanHasen said:

Thanks for sharing.

One question, could it be possible that we wont ever get the remaining 85% due to the changes on the distribution? 

Honestly I am not up to date with the details of the latest proposal. I think a lot of different scenarios are possible. Others might be able to answer your questions but I know personally for me I’m not going to look much into it until we get the tokens.

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10 hours ago, Seoulite said:

Honestly I am not up to date with the details of the latest proposal. I think a lot of different scenarios are possible. Others might be able to answer your questions but I know personally for me I’m not going to look much into it until we get the tokens.

Yeah me too...

I have read comments suggesting flr is stepping back from distributing all the tokens as promised to the XRP community because ripple is no longer an investor in flr (and other reasons?)

Would be a bummer if true (many people bought xrp before the snapshot date only because of the airdrop - only receiving 15% of the promised token ratio would be at least heavily misleading to people who bought XRP because of FLR)

Well, i guess we will find out some day...  thanks anyway

 

EDIT: deleted harsh language

Edited by VanHasen
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9 minutes ago, VanHasen said:

Yeah me too...

I have read comments suggesting flr is stepping back from distributing all the tokens as promised to the XRP community because ripple is no longer an investor in flr (and other reasons?)

Would be a bummer if true, and illegal? (i dont know, but many people bought xrp before the snapshot date only because of the airdrop - only receiving 15% of the promised token ratio would be close to fraud IMO, or at least its heavily misleading to people who bought XRP because of FLR)

Well, i guess we will find out some day...  thanks anyway

The blog posts do explain all the distribution options if you are interested, I just don’t know the details:

https://ko.flare.xyz/fip01/

 

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4 minutes ago, VanHasen said:

only receiving 15% of the promised token ratio would be close to fraud IMO, or at least its heavily misleading to people who bought XRP because of FLR)


I’m not fully conversant with the details but I know that it is not even remotely like fraud.

People ALWAYS were only going to get 15% as first drop.  What’s changed is there will be a vote for a proposal where they will need to be invested in the network to get rewarded subsequently with following drops.

That IS different from original plan but is designed to discourage a giant fire sale.  It also is only a proposal and is not yet settled.

 

I just wish people were a bit more reticent to throw words like ‘fraud’ around in this space.  Not everything is a conspiracy…    
 

 

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9 minutes ago, BillyOckham said:

Wow.  Dude.  You are one of those rare folk who can admit they might have made a mistake.

Respect.  Thanks for saying that.

 

 I`m impulsive at times - sometimes saying/writing things with my brain cut off

You were absolutely correct in pointing that out

THX :)

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ANyone know where you can currently buy iou's vs the 15% flare distribution? I have bitrue &/or bittrex in my head but recall initially one was vs a 100% distribution & one was vs the 15% & thus one was worth more but now should be the same?

 

Either way looking for a way to buy some future ones now?

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I find it incredible that there are still no s-assets (from my pov, the only legit use case) on the Songbird network yet, let alone how long that means f-assets are going to take, having to be tested first on the canary net. 

To me, FLR is just another coin until there are f-assets, and that looks like a long way off. Possible chance to slowly accumulate if you believe in it, or to stake instead of selling off, but I also think the price could easily do a 95% crash so I won't be buying any either. 

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Quote

I find it incredible that there are still no s-assets (from my pov, the only legit use case)

For me that was the value proposition too. Unless everchanging Hugo changes his mind again, s-assets should come before f-assets.

I currently see SGB is very undervalued compared to FLR's IOUs (or FLR's IOUs are very overvalued). So my idea is to trade FLR for SGB until the S-Assets are implemented. Also some "assets" that I was going to test using S-Assets I traded for SGB.

I expect to trade them back when/if S-Assets are implemented. Also if/when S-Assets are implemented I expect SGB price to be at least $0.05 (in the current bearmarket conditions).

I hope this $0.02 prices have already included the "Do Kwan" risk. (I mean, I hope this prices already reflect the fact that Do Kwan is involved in the project at investor leval and Ripple is UNinvolved in the project at investor level).

If I can never trade back the "assets" I traded for (hopefully "cheap") SGB, I will treat them as if the S-Asset system failed, anyway.  

Today 1 (Bitrue) FLR IOU buys 27.7 SGB. I hope to catch some of that difference when FLR is airdroped. Even 1 FLR = 5 SGB would be aceptable for me.

Actually the 3.5 days Epoch time for FLR vs the 7 days Epoch time for SGB is an inconvenience for me. The current SGB authorized inflation is 8% but you can get wat more than that chosing the right FTSO.

I really can't justify a FLR nominal value greater than a SGB nominal value.

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