The Crypto GuideStart learning
Menu
Prices: CoinGecko

Flare

FLR · Field entry
Oracle & dataDeFiInfrastructure

A blockchain built around native data feeds and bringing XRP into smart contracts

$0.0072230.13%Snapshot · October 4, 2026 · updates live
Market cap
$628.99M
24h volume
$2.30M
Rank
#103
Circulating
87.08B FLR
Max supply
No fixed cap
All-time high
$0.1501 January 9, 2023

FLR price chart

7-day snapshot. Chart data from CoinGecko.

What is Flare?

Flare is an Ethereum-compatible blockchain that builds data services directly into the protocol, including decentralized price feeds and a way to verify events on other chains. Its best-known product, FAssets, lets XRP holders use a backed version of XRP (FXRP) in Flare apps.

Utility Lens

What Flare actually does

Gives apps reliable on-chain price data and verified information from other blockchains, and lets assets like XRP be used in smart contracts.

Real-world usage
earlyPrice feeds and FXRP are live and used, but activity is small compared with major DeFi chains.
Token necessity
essentialFLR pays gas, secures validators and data providers through delegation and staking, and backs FAsset agent collateral.
Decentralization
moderateMany independent data providers and validators take part, but the network launched with foundation-run validators in 2022 and the Flare Foundation and early allocations still carry significant influence.
Track record
provenMainnet genesis was July 2022, preceded by the Songbird canary network, with no major protocol-level hack reported.

How we rate

What it’s used for

Developers read Flare's built-in price feeds and data from other chains without paying a separate oracle network. XRP holders can mint FXRP, a token backed by XRP held by agents, and use it in Flare lending and trading apps. FLR holders delegate or stake tokens to data providers and validators to earn rewards.

Role of the FLR token:

gasstaking securitycollateralgovernance

Evidence of real use

  • FAssets launched on Flare mainnet, starting with FXRP, letting XRP be used in Flare DeFi. Source
  • FLR was first distributed on January 9, 2023 to eligible XRP holders based on a December 2020 snapshot. Source
  • The 36-month FlareDrop distribution concluded on January 30, 2026. Source
  • Governance proposal FIP.16 restructured FLR tokenomics, including lower inflation and new ways to capture network earnings. Source

How Flare works

Flare is compatible with Ethereum tools, so contracts written for Ethereum can run on it. What sets it apart are 'enshrined' data protocols. The Flare Time Series Oracle (FTSO) has many independent data providers submit prices, which the network combines into feeds that any contract can read. The Flare Data Connector lets contracts confirm that something happened on another chain or on the web.

FAssets use these tools to bring assets without smart contracts, starting with XRP, onto Flare. Independent agents hold the real XRP and post collateral in FLR and stablecoins; if they fail to honor redemptions, their collateral can be used to make users whole. FXRP launched on mainnet in 2025, and the same system is designed to support other assets such as bitcoin later. Because the data connector verifies events on the XRP Ledger, minting and redemption do not rely on a single bridge operator.

FLR holders can delegate to data providers and stake with validators, earning rewards funded by new issuance. Governance proposals, such as FIP.16 in 2026, are voted on by token holders. FIP.16 also cut inflation from 5% to 3% and redirected some network earnings, such as fees from FAsset minting, toward the ecosystem. The 36-month FlareDrop program that followed the 2023 airdrop ended in January 2026.

Key moments

  1. 2021Songbird, Flare's test and canary network, launches.
  2. 2022Flare mainnet launches.
  3. 2023FLR is airdropped to eligible XRP holders, starting a 36-month distribution.
  4. 2025FAssets go live with FXRP.
  5. 2026FlareDrops end in January and FIP.16 cuts inflation and restructures tokenomics.

Supply

FLR has no hard cap. New FLR is issued each year to reward data providers, validators and delegators, and in 2026 governance approved FIP.16, lowering the inflation rate from 5% to 3%. The monthly FlareDrop distributions that followed the 2023 airdrop ended in January 2026.

Risks to understand

  • Ongoing inflation dilutes holders who do not delegate or stake.
  • FAssets depend on agents and collateral; a sharp price move or agent failure could stress redemptions.
  • Usage is still small, so FLR's value is driven heavily by speculation.
  • Large allocations held by the foundation and early backers can affect supply.

Flare FAQ

What is FXRP?

FXRP is a token on Flare backed by XRP held by independent agents, letting XRP holders use their value in Flare apps and redeem back to XRP.

Why did XRP holders receive FLR?

Flare distributed FLR to eligible XRP holders based on a December 2020 snapshot, starting in January 2023.

Is Flare part of ISO 20022?

We found no documented ISO 20022 role for Flare; it is a data and DeFi network, not a bank messaging project.

Sources

  1. FAssets are Live: XRP Meets DeFi on Flare — Flare Network
  2. FAQs: Token Distribution Event — Flare Network
  3. Get FlareDrops — Flare Network
  4. FIP.16: Restructure FLR Tokenomics for Long-Term Network Sustainability — Flare Governance
  5. Flare (FLR) Airdrop Explainer — Kraken
  6. Flare at Three: Powering a Connected & Data-Rich DeFi Ecosystem — Flare Network

Last reviewed October 4, 2026 by The Crypto Guide editorial team. Utility Lens ratings are editorial judgments, not investment advice. Market data from CoinGecko. Spot an error? Request a correction.