FLR

Flare Network's native token, FLR, serves multiple crucial roles within its ecosystem. Primarily, it incentivizes the adoption and decentralization of the Flare Time Series Oracle (FTSO), ensuring reliable off-chain data for network use. FLR tokens are also used to secure the network, with data providers staking tokens that could be forfeited for malicious behavior. Furthermore, FLR facilitates network governance, allowing token holders to participate in decision-making processes. It is used as collateral in third-party decentralized apps and pays for transaction fees on the network. Of the total 100 billion FLR tokens, 58% were distributed to the community, while the rest were allocated to the team and associated entities.