Flare Inflation Rate (FLR) Drops from 7% to 5%, Starting July 5!

Bittime - Flare Network announced a reduction in the $FLR token inflation rate that will take effect on July 5, 2024 at 02:00 WIB. $FLR inflation will fall from 7% to 5% to reach a more sustainable level. This change has been approved by the Flare community.

Decreasing Inflation Flare Rate ($FLR)  

This decrease in inflation rates will reduce the number of new FLR tokens minted each year creating a scarcer long-term supply. While delegation and staking rewards will be adjusted to reflect lower inflation rates.

In other words, this reduced inflation is expected to balance short-term growth with long-term scarcity for the $FLR token. This is a strategic move to ensure long-term economic health for the Flare ecosystem.

The Impact of Decreasing Inflation Rates on the Flare Ecosystem

A decrease in the inflation rate usually has a positive impact on token prices. However, this effect does not always occur directly and is influenced by various other market factors.

However, reduced inflation is a positive signal for $FLR token holders as token supply becomes scarcer. This may increase long-term demand for $FLR.

In addition, Flare Network promises to continue to be committed to building a rapidly growing ecosystem that benefits all participants.

What's that Flare Network?

Flare Network is a Layer 1 blockchain network that aims to expand the function and utility of existing digital assets. The network offers adoption of Turing-complete Ethereum smart contracts to various blockchains, including XRP Ledger, Dogecoin, and Algorand.

With smart contract functionality, Flare Network enables existing crypto assets to participate in the rapidly growing DeFi economy.

Unique Features of Flare Network

Apart from that, Flare Network also offers unique features, such as State Connector, F Assets, and Flare Finance.

• State Connector: Enables interoperability between previously unrelated blockchains.
• F Assets: Native crypto asset representation on the Flare blockchain.
• Flare Finance: A DeFi ecosystem built on the Flare Network.

How to Buy Crypto with Bittime

You can buy and sell crypto assets in an easy and safe way through Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

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