$FLR
Native Asset
Layer 1 Oracle-Enabled Smart Contract Platform — $FLR
$FLR is the native token of the Flare Network, a Layer 1 blockchain designed to bring decentralized, real-world data to smart contracts through its oracle-first architecture. Flare is EVM-compatible and integrates the Flare Time Series Oracle (FTSO), a decentralized network of data providers that deliver accurate on-chain price feeds in exchange for $FLR rewards. The token is used for governance, transaction fees, staking, collateral, and data delegation.
Flare’s companion chain, $SGB (Songbird), acts as a high-stakes canary network with real economic value. It hosts live DeFi platforms, bridges, and token farms, serving as both a testing environment and a standalone ecosystem. Many developers use $SGB to deploy, stress-test, and iterate their dApps before launching on the $FLR mainnet.
Use Case: $FLR enables developers to build smart contracts that access live price data from decentralized oracles, while $SGB provides a real-world sandbox for protocol testing and yield farming.
Key Concepts:
- FTSO — Oracle network that rewards accurate, decentralized data feeds.
- State Connector — System that verifies cross-chain events and external data.
- Delegation — Users delegate $FLR to data providers to earn passive rewards.
- $SGB — Canary network for testing with real value and utility.
- EVM Compatibility — Supports Solidity smart contracts and Ethereum-based tooling.
Summary: $FLR powers the Flare Network — a smart contract platform uniquely built around decentralized oracles and real-world data. Its dual-chain system with $SGB enables rapid innovation, making Flare a leading candidate for data-rich Web3 applications spanning DeFi, insurance, AI, and tokenized assets.
Mini History of $FLR
$FLR originated as a solution to bring smart contract capabilities to chains like XRP, BTC, and LTC that lack native programmability. Founded by Hugo Philion and the Flare team, the project focused on solving the oracle problem with on-chain, incentive-driven data feeds. The network launched in two phases: Songbird ($SGB) in September 2021 as a live testing chain, and Flare’s full $FLR mainnet in January 2023.
Initial distribution included airdrops to XRP holders, catalyzing early adoption. As the Flare ecosystem evolved, apps like Pangolin, Enosys, and Kinetic Market expanded its use cases. The FTSO system became a core innovation — allowing $FLR holders to delegate their tokens and earn passive rewards for supporting data accuracy. Today, Flare is building out integrations across DeFi, tokenized assets, and real-world data systems, positioning itself as the “blockchain for data.”