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Flare Network Deploys FlareDrop Token Distribution Contract Test Version on Coston 2

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On March 2, the Layer1 blockchain Flare Network tweeted that the FlareDrop token distribution contract test version has been deployed on Coston 2. For the conv…

Flare Network Deploys FlareDrop Token Distribution Contract Test Version on Coston 2

On March 2, the Layer1 blockchain Flare Network tweeted that the FlareDrop token distribution contract test version has been deployed on Coston 2. For the convenience of testing, Flare allows users to collect tokens once a day instead of once every 30 days as previously required.

Flare: The token distribution contract beta has been deployed in Coston2

Interpretation of the news:


Flare Network, a Layer1 blockchain, has announced the successful deployment of the FlareDrop token distribution contract test version on Coston 2 in a recent tweet on March 2, 2021. The platform has made testing more convenient by giving users the opportunity to collect tokens once a day instead of every 30 days, which was previously required.

The Flare Network is an innovative blockchain platform that has been designed to cater to the demands of the smart contract ecosystem by providing the necessary infrastructure and technical capabilities needed for the development of a decentralized financial (DeFi) ecosystem. The network utilizes the Federated Byzantine Agreement (FBA) consensus mechanism that ensures fast and efficient processing of transactions on its blockchain.

The FlareDrop Token Distribution Contract is a tool designed to allow the distribution of FLR tokens, the native token of the Flare Network, to XRP holders. This initiative has received massive support from the XRP community, with over 44,000 XRP holders already signed up for the event. As a result of the high level of interest received, the Flare Network has increased the number of tokens that would be distributed to XRP holders by tenfold, taking the number to a staggering 45 billion FLR tokens.

With the successful deployment of the FlareDrop token distribution contract test version on Coston 2, Flare Network has enhanced the user experience by allowing them to conveniently collect tokens once a day instead of once every 30 days. This latest development would not only ensure that users can test the FlareDrop token distribution contract seamlessly, but it also enables the platform to gain valuable insights into the performance of its token distribution system and make improvements where necessary.

In conclusion, the successful deployment of the FlareDrop token distribution contract test version on Coston 2 represents a significant milestone for the Flare Network. By providing XRP holders with the opportunity to receive FLR tokens through the use of innovative technology solutions, the Flare Network is firmly establishing itself as a major player in the fast-growing DeFi ecosystem.

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