Flare Network Burns $20 Million Worth of FLR Tokens to Increase Incentives for New Users
- Flare Network to burn 2.1B FLR tokens, over 2% of total supply
- Tokens were originally allocated to early backers, will no longer distribute
- Aims to prevent token dilution, increase incentives for new users
- 198M FLR to be burned immediately, 66M monthly until 2026
- At current prices, total burn value around $20 million