6th of January, 2023 — In an announcement dated 21st of October 2022, Flare Network has confirmed the Flare Token Distribution Event for 9th January 2023. Bitrue always has extended support for the Flare Community and trusts in the future of its novel technology. Bitrue has been providing the most holistic support for the Flare Community on the exchange since its inception as an exchange partner.
Two years ago, Bitrue was the first exchange to complete $FLR distribution in the form of IOUs, as well as open and support trading for $FLR in the form of IOUs. Following that, Bitrue opened XRP and USDT trading pairs for $FLR. As one of Flare Network’s earliest proponents, Bitrue currently has the highest spot trading volume and liquidity for $FLR as a result. In addition, Bitrue also supports the canary network Songbird ($SGB) for the Flare blockchain.
Having completed a significant milestone when it reached its decentralization requirement for token distribution, Flare Network now has sufficient independent validators on Flare to ensure decentralization and security. On the 9th of January 2023, Bitrue will hence commence immediate support for $FLR deposits and withdrawals upon commencement of the Flare Token Distribution Event.
Bitrue is currently in the works of laying down the pipework to accommodate the Flare Time Series Oracle (FTSO). In addition to the full extent of support, Bitrue will be providing for $FLR, the Flare Community can enjoy high liquidity and numerous $FLR token staking options will also be enabled on Bitrue soon after the Flare Token Distribution Event.
To celebrate and support the Token Distribution Event for the Flare Network community, starting on Jan 10th at 06:00 UTC you will be able to make investments in Flare Networks $FLR to receive rewards up to 7% APY. If you’re planning to hold FLR for a long time in the future, then you can set and forget it in our investment service and watch as you receive interest over time with no strings attached, See the table below for details:
*Please note: While the staking reward in native token pools tends to be fixed and corresponds to the shown APY, the staking reward in the non-native pool will be adjusted due to the price fluctuation of the tokens.
Look for the Power Piggy & Staking section under the Earn tab on the Bitrue official website. Also, please be sure to turn up at 06:00 UTC on Jan 10th, as these investments often sell out extremely quickly.
More Yield Farming pools will open up from time to time, but the exact nature of the pools will be determined by the community. If there is a specific coin you want to farm, please let us know by shouting it out to us on our Twitter account @Bitrueofficial.
Warning Risk: Cryptocurrency trading is subject to high market risk. Please make your decisions cautiously. Bitrue will make the best efforts to choose high-quality assets but will not be responsible for any associated asset risks.