Kraken, one of the leading cryptocurrency exchange platforms, has announced the distribution of Flare (FLR) tokens to eligible clients. As per the announcement made on December 11, 2020, clients who had XRP balances in their Kraken accounts at the time of the snapshot, which took place on December 12, 2020, are expected to receive approximately 15% of the total FLR tokens on January 10, 2023.
According to the information provided by Kraken, the clients will receive 0.151095 FLR for every 1.0000 XRP they had at the time of the snapshot. This means that clients who had higher XRP balances in their accounts at the time of the snapshot will receive more FLR tokens.
It is worth noting that the distribution method of the remaining FLR tokens is yet to be determined and will depend on the outcome of the community vote on Flare Improvement Proposal 01 (FIP.01). The voting on this proposal is expected to start in February.
For clients who held existing XRP positions through the snapshot, Kraken will credit or debit their accounts with a balance of FLR tokens corresponding to these positions.
In conclusion, the distribution of FLR tokens is a significant event for eligible clients as it provides them with an opportunity to gain additional assets. Clients are advised to keep an eye on the voting process for FIP.01 and stay informed about the distribution of the remaining FLR tokens.