ToastBandit-99 Posted January 10 Share Posted January 10 12 minutes ago, ftso_au said: I wouldn’t use them as an example. For most of us, they’re irrelevant anyway. I was trying to be ironic given the current situation 12 minutes ago, ftso_au said: Why don’t you push Flare for information on how it’s enforced? I don't really have any interest in flare any more (sold all), I will watch from the sidelines and see how the project progresses over the next few years. I didn't/don't have much confidence in the project and I've said my piece, so I'll shut up now. Gringo and ftso_au 1 1 Link to comment Share on other sites More sharing options...
Gringo Posted January 10 Author Share Posted January 10 Meanwhile "Tom T" is really winning the heart of "Flare Community". On every channel out there you always can find some "love" for this "cool" community manager. What a PR disaster. Link to comment Share on other sites More sharing options...
Gringo Posted March 14 Author Share Posted March 14 We are nearing the first monthly FLR drop after the (manipulated) voting. A discord member posted some interesting info on accounts related to Flare team that have to opt out from this airdrop: BillyOckham and RambeauTeasebox 2 Link to comment Share on other sites More sharing options...
Gringo Posted March 17 Author Share Posted March 17 Few people active on the FLR/SGB club of xrpchat. But just for the record, today was the first FLR drop of the 36 monthly drops from the 85% remaining FLR that was once promised from the (now infamous) XRP snapshot. The 1/36 drop amounted to about 20% of an average users holding. Since there is a lot of FLR trapped in sites like Celsius and some exchanges it is highly probable that the next few months will have similar results, so some people may reconsider trying to participate. Source: https://flare.network/flaredrop-guide/ BillyOckham, JASCoder and PunishmentOfLuxury 1 2 Link to comment Share on other sites More sharing options...
BillyOckham Posted March 17 Share Posted March 17 This page might be interesting to watch over time. I’m not sure how many will be unclaimed after period but might be an interesting graph over time. https://flare-explorer.flare.network/address/0x9c7A4C83842B29bB4A082b0E689CB9474BD938d0/coin-balances#address-tabs JASCoder 1 Link to comment Share on other sites More sharing options...
BillyOckham Posted March 18 Share Posted March 18 19 minutes ago, Gringo said: The 1/36 drop amounted to about 20% of an average users holding. Even assuming that drops in volume over time…. weren’t you sure you’d been robbed by the new proposal? And yet this is about seven times more than you would have gotten (for this one at least). Do you think it might work out better for you after all? Or do you still feel cheated? Link to comment Share on other sites More sharing options...
PunishmentOfLuxury Posted March 18 Share Posted March 18 56 minutes ago, BillyOckham said: Even assuming that drops in volume over time…. weren’t you sure you’d been robbed by the new proposal? And yet this is about seven times more than you would have gotten (for this one at least). Do you think it might work out better for you after all? Or do you still feel cheated? No, not quite right. Before FIP01 XRP holders would have got about 2.36% per month (the remaining 85% divided by 36) of their total due distribution, which was just over 1x their XRP holding on the snapshot date, Dec 2020. Now they have received this month about 20% of the 15% FLR that was dropped in the TDE (plus whatever delegation rewards they have accrued). So, it's about 3% of the final total they would have got, as opposed to 2.36%. That looks better, but the 20% per month will almost certainly drop over time as more people join in and the distribution pool gets diluted. Take a look at FIP.01 Airdrop Simulator BillyOckham, Tull and Gringo 2 1 Link to comment Share on other sites More sharing options...
Gringo Posted March 18 Author Share Posted March 18 What Hugo & Flare Network did to XRP community is ethically (and maybe even legally) reprehensible. So far the 1st month is slightly better than the original plan, but that is due to many exchanges not sending FLR to their users. It's about 20% but calculated compared to the initial 15% drop (or to any amount that you may have wrapped). The original plan would be an initial drop of 15% and then about 3% monthly. But that 3% compared to the 100% amount of the snapshot. There is NO guarantee that it will be always around 20% of the wrapped FLR. According to my calculations this is slightly better than the original plan. But by DROP #10 it could be slightly worst and by DROP #36 maybe it will end up being worst than the original plan. There is really not way to know for sure. BillyOckham 1 Link to comment Share on other sites More sharing options...
BillyOckham Posted March 18 Share Posted March 18 48 minutes ago, PunishmentOfLuxury said: No, not quite right. Before FIP01 XRP holders would have got about 2.36% per month (the remaining 85% divided by 36) of their total due distribution, which was just over 1x their XRP holding on the snapshot date, Dec 2020. Now they have received this month about 20% of the 15% FLR that was dropped in the TDE (plus whatever delegation rewards they have accrued). So, it's about 3% of the final total they would have got, as opposed to 2.36%. That looks better, but the 20% per month will almost certainly drop over time as more people join in and the distribution pool gets diluted. Take a look at FIP.01 Airdrop Simulator Ah thanks, I was an idiot. I’m editor in chief of “Mafs for Morons”. Yeah, instead of a massive gain as I supposed it is nearly a wash. And no doubt the Crypto gods will gradually lower the price to make it ever worse. Link to comment Share on other sites More sharing options...
BillyOckham Posted March 18 Share Posted March 18 6 minutes ago, Gringo said: According to my calculations this is slightly better than the original plan. But by DROP #10 it could be slightly worst and by DROP #36 maybe it will end up being worst than the original plan. There is really not way to know for sure. Yes you are correct and I was completely wrong with my pathetic mafs. So at this stage it looks like a wash and only time will tell if it gains or loses for us all. One thing that’s promising is there hasn’t been a big slump after the drop as some expected but that could be due to macro conditions. Personally I think it has more potential than the original plan because of the incentive to wrap, but as we’ve just seen, my calculations and thoughts are often wrong. Link to comment Share on other sites More sharing options...
BillyOckham Posted March 18 Share Posted March 18 10 minutes ago, Gringo said: What Hugo & Flare Network did to XRP community is ethically (and maybe even legally) reprehensible. I should add that I disagree with your assessment. Circumstances changed, time passed, and a better plan (in their opinion) became an option. There was no contract with us and it was all free and a gift (please don’t cite ‘we provided the hype and community’…. that’s really weak sauce). The vote was a bit farcical because of the weight of the founder’s holdings but that is the case in every coin I’m aware of. Maybe at some far future point truly decentralised finance will be a thing, but it’s nowhere that I can see thus far. Anyway. You and I differ on the ethical situation here and I don’t think either can convince the other so I’m happy to move on. Link to comment Share on other sites More sharing options...
Montoya Posted March 18 Share Posted March 18 1 hour ago, Gringo said: What Hugo & Flare Network did to XRP community is ethically (and maybe even legally) reprehensible. So far the 1st month is slightly better than the original plan, but that is due to many exchanges not sending FLR to their users. It's about 20% but calculated compared to the initial 15% drop (or to any amount that you may have wrapped). The original plan would be an initial drop of 15% and then about 3% monthly. But that 3% compared to the 100% amount of the snapshot. There is NO guarantee that it will be always around 20% of the wrapped FLR. According to my calculations this is slightly better than the original plan. But by DROP #10 it could be slightly worst and by DROP #36 maybe it will end up being worst than the original plan. There is really not way to know for sure. Legally, you say? Exactly what jurisdiction's laws would apply. UAE? You just assured me in another post that national laws do not have any bearing on markets or protocols beyond borders. So I take it you are referring to civil proceedings in Dubai? Are you familiar with UAE civil code? Link to comment Share on other sites More sharing options...
Gringo Posted March 18 Author Share Posted March 18 Quote You just assured me in another post that national laws do not have any bearing on markets or protocols beyond borders. False, I said the SEC has no jurisdiction outside the US. Link to comment Share on other sites More sharing options...
Montoya Posted March 19 Share Posted March 19 On 3/18/2023 at 3:54 AM, Gringo said: False, I said the SEC has no jurisdiction outside the US. Nice try with the straw man. Lol. No one ever claimed the SEC has jurisdiction outside the US. The claim was that an SEC finding that Flare is a security would have a negative effect on the market. Which seems pretty apparent. You were trying to ridiculously claim that it wouldn't affect it because -blah blah blah- jurisdiction. You were falsely equating legal jurisdiction with a legal decision's fallout. An equation that no one ever made except for you. Now, you apparently want to have it both ways. According to you, the SEC and the US gov are too weak to even affect an international market, but some unnamed nation's court would have no issue having a global reach. So, which is it? Can powerful nations bully other nations into compliance or can't they? Perhaps jurisdiction isn't the magical safety vest that you think it is. Link to comment Share on other sites More sharing options...
Troote Posted March 19 Share Posted March 19 (edited) Apologies I have been out of the loop (I have not been looking at crypto at all these days). Indulge me...! Putting aside the value of the airdrop that has changed and which seems controversial... Instead of gradually and passively getting some FLR directly in our wallets solely based on the XRP snapshot from 2020, we need to actively wrap FLR into WFLR, delegate them to a FTSO, then claim the additional FLR airdrop every month. If we don't, we get nothing extra. Did I get this right? Is there anything else we need to do to get the full rewards? Edited March 19 by Troote Link to comment Share on other sites More sharing options...
.thumb.gif.550cafeb8f0ae545e2eeb83a170c6935.gif)
.thumb.jpg.7dc8f88dadf492ca050a81fc9cb7006e.jpg)
Recommended Posts