FLR/USD: Convert Flare (FLR) to United States Dollar (USD)

Flare (FLR) is a layer 1 blockchain platform based on the Ethereum Virtual Machine (EVM) that aims to enhance the utility of blockchain technology. It strives to provide developers with decentralized access to high-integrity data from other chains and the internet, enabling the creation of new use cases and monetization models. FLR is the native token of the Flare network, used for payments, transaction fees, and staking in validator nodes. It can also be wrapped into an ERC-20 variant, WFLR, which can be used in various functions such as delegation to Flare Time Series Oracle (FTSO) data providers or participation in governance.

Flare operates through two native interoperability protocols that facilitate the on-chain, decentralized acquisition of blockchain, time series, and Web2 API data. The State Connector acquires event information from other blockchains and the internet in a secure, scalable, and decentralized manner. This data is then made available to decentralized applications (dapps) on the network. The Flare Time Series Oracle (FTSO) utilizes the network structure to deliver highly decentralized prices and data series to dapps on Flare without relying on centralized data providers. This structure allows Flare to minimize risks for users and developers while providing reliable access to cryptocurrency prices, detailed transaction information from other chains, and Web2 event data.

Flare aims to expand the utility of blockchain technology by enabling developers to build applications that can serve a larger group of users. By providing reliable access to high-integrity data from other chains and the internet, Flare opens up possibilities for new use cases and monetization models. For instance, FLR tokens can be used for payments, transaction fees, and staking in validator nodes. They can also be wrapped into an ERC-20 variant, WFLR, which can be used in various functions such as delegation to FTSO data providers or participation in governance. These functionalities are not mutually exclusive and do not prevent the tokens from being used in other EVM-compatible dapps and smart contracts on Flare.

Flare was founded by Hugo Philion, Sean Rowan, and Dr. Nairi Usher, who met while studying machine learning at University College London. They shared an interest in distributed systems and their potential applications, which led to the creation of Flare. The genesis of the Flare mainnet occurred on 14 July 2022, followed by the public token distribution event (TDE) on 9 January 2023. The total available supply at genesis was 100 billion FLR, of which 12 billion FLR were in circulation immediately after the TDE. The public token distribution continues for 36 monthly installments, providing a total of 28,524,921,372 FLR to the community. Flare is an inflationary network with 10% of the circulating supply minted in year 1.