You must remember the XRP airdrop, this is exactly this token
Collateral for the trustless issuance of assets from non-Turing complete chains. Starting with XRP, XLM, Litecoin and Dogecoin.
Flare is a smart contract that integrates an Ethereum virtual machine. To open up the possibility for a large number of popular coins to use decentralized applications starting with coins such as XRP XLM DOGE LTC .
In other words, it is Turing's introduction of complete smart contracts into each integrated chain. In simple words, creating a smart contract for blockchains that don't have their own smart contract.
The smart contract is a catalyst for the development of both the network and the business within the blockchain. Now this feature will not only be available in popular ecosystems such as BNB, ETH .
+ As stated in the white paper, following the release of the main network is the creation of a large ecosystem of defi products. + Watching their social networks, I can say that their marketing is built at the high level. + This month the token will be airdrop on 50 of the most popular exchanges at once.
The token is currently traded as the IOU on two exchanges . Poloniex ( XFLR )and Bitrue ( FLR ).
XFLR - as the IOU on Poloniex exchange. After the start of the Flare network, Poloniex exchange undertakes to exchange XFLR to FLR - In this proportion 1 XFLR = 0.15 FLR
So, you have 1 XFLR at day 1 and you just receive 0.15 FLR at day one.
While in Bitrue you HAVE 1 XFLR and you will receive 1 FLR at day one. The guy who buys 100 XFLR in Poloniex just will receive 15 FLR at launch. The guy who buys 100 FLR in Bitrue will receive 100 FLR at launch.
It is profitable to buy with Poloniex, but the vesting time is longer.
Since you will not receive all the coins at once, only a part of them.
You will receive the rest of the amount later. Distributed over the course of 2-3 years
P.S. ~ 65% of the value of blockchain tokens is not available for decentralized applications.
Sounds great but per my calculation:
If the max supply is 100 Billion coins, than the marketcap per the price of Poloniax (0.38 USD) is 253 Billion USD (100,000,000,000*0.38/0.15)!!!
How can it be profitable?