Flare

Flare is an EVM-compatible Layer 1 blockchain designed around data. Its central premise is that most useful applications need information from outside the chain, whether prices, events on other blockchains, or data from the wider internet, and that this data should be delivered by the network itself rather than by a separate trusted service.

Two protocols implement that idea. The Flare Time Series Oracle provides decentralized price and time series data, with data providers contributing values and being rewarded or penalized based on how their submissions compare with the consensus. The State Connector allows the chain to verify that an event took place on another blockchain or system, which enables applications to react to external state without a conventional bridge operator.

Why it is structured this way

On most chains, oracles are third-party services layered on top. Flare instead secures these protocols with the same validator set that secures the chain, so data delivery inherits the network's security rather than depending on a separate trust assumption. This is the basis of the project's claim to enable use cases that would otherwise require trusting an external provider.

The network launched in 2023 after an extended development period, with a large initial distribution to XRP holders and other communities.

Supply

FLR has no fixed maximum supply. Total supply currently sits at roughly 106.4 billion tokens with about 86.9 billion circulating. The token is used to pay transaction fees, to delegate to data providers in the oracle system, and in governance. Holders can delegate their FLR to FTSO data providers and receive a share of the rewards those providers earn, which links token holding to the network's data function rather than only to block production.