What Happens After The First 15% Distribution | Flare Network
Eligible participants will receive the 15% initial FLR distribution at the TDE. TDE will commence at 11:59pm UTC on Jan 9 and will take up to a few hours to complete.
If you're expecting your FLR from an exchange, you'll need to wait until they distribute it to you, most have agreed to do so within 2 weeks, some as quick as a few hours. Here's the up to date list of exchanges who've confirmed distribution.
NO further token distribution will take place until AFTER the FIP-01 has taken place.
IF the proposal PASSES, the remaining tokens with be distributed, amounting to 24,246,183,166 FLR, monthly in uniform increments, over 36 months to those that wrap their FLR tokens.
Now, the important part, please read thoroughly.
Each month 3 random blocks (snapshots) will be chosen. At each chosen block the amount of wrapped FLR held by each address will be calculated.
Simplistically, the 3 snapshots are averaged out, to come up with your number for the month. The actual formula can be found at the bottom of the FIP-01 proposal.
This determines how many FLR you will receive, for this months airdrop.
This process repeats for the next 36 months.
It doesn't matter if you move your tokens from the wallet or exchange you received them on, it only matters what WFLR you have in your wallet during each of the 3 snapshots.
It doesn't matter if you sell some of your tokens, it only matters what WFLR you have in your wallet during each of the 3 snapshots.
It doesn't matter if you buy 10X the original amount you had airdropped, it only matters what WFLR you have in your wallet during each of the 3 snapshots.
To answer a sample of the questions we're receiving.
Q: For the FLR drop, what if I move my 15% to a different wallet to delegate. How will that work for receiving the remaining 85%?
A: It only matters what WFLR you have in your wallet during each of the 3 snapshots.
Q: Making sure I have this correct, my 15% airdrop will come through Coinbase. I can then move that to a wallet and the remaining 85% will arrive in my wallet over time?
A: It only matters what WFLR you have in your wallet during each of the 3 snapshots.
Q: If i move my tokens to delegate, how will you know it's me for the other airdrops?
A: It only matters what WFLR you have in your wallet during each of the 3 snapshots.
Q: Do you have to delegate from the address where you received the FLR or can you send your 15% to say your Bifrost wallet, and delegate from there moving forward?
A: It only matters what WFLR you have in your wallet during each of the 3 snapshots.
Q: I have my Flare being sent to me on the Uphold exchange. If I send that all to the Bifrost wallet and delegate does that mean then future airdrops with be sent to the Bifrost wallet?
A: It only matters what WFLR you have in your wallet during each of the 3 snapshots.
Hopefully, you can now understand your specific situation is irrelevant, understanding the high level concept is more important.
IF the proposal is REJECTED, the same self-custody wallets and the same centralized exchanges that received the first airdrop will receive one airdrop per month for 36 months.
Update 11th Jan. "In your wallet" is any wallet, not just the one you were airdropped the tokens. The snapshot will scan ALL addresses on the Flare blockchain for WFLR.