What is Flare (FLR)?
Flare (FLR) is a layer-1 blockchain that weaves data oracles and cross-chain connectivity directly into the protocol instead of treating them as afterthoughts. Most networks outsource price feeds to external services; Flare builds that capability into its core security and reward structure from day one.
The project was born out of Ripple's Xpring program, initially designed to bring smart contract functionality to assets like XRP that lack it. The mainnet opened to the public in early 2023.
What does the FLR token actually do?
FLR is the network's native token and performs several concrete roles. First, every transaction fee paid on the network is burned — this removes tokens from circulation with each block and creates a direct link between usage and supply reduction.
Holders can wrap FLR into WFLR to delegate to FTSO data providers and earn a share of the rewards those providers generate. WFLR also grants voting power in governance and can be used as collateral in third-party DeFi applications on Flare.
How does Flare bring external data on-chain?
At the center sits the FTSO (Flare Time Series Oracle), which delivers decentralized price and data feeds. Providers submit estimates and are rewarded based on how close their data is to the network median, creating a game-theoretic incentive for accuracy. Token holders choose which providers to trust and delegate to them.
The FDC (Flare Data Connector) answers a different question: did a transaction actually happen on another chain? It verifies this through independent attestations and proofs rather than asking a single server. Together, FTSO and FDC power the FAssets protocol, which lets assets like XRP and Bitcoin be used on Flare without handing them over to a centralized custodian.
