Ripple’s chief technology officer, David Schwartz, recently voiced his disapproval of Flare’s much-publicized airdrop on Twitter.
Schwartz pointed out in a five-tweet thread that there is now no incentive to store FLR tokens and wait to receive airdrops under the existing rules. Schwartz contends that since anyone who purchases Flare tokens can wrap them and receive the airdrop, holders have nothing to lose by selling right away.
He claims that the new regulations constitute “a very strange decision” and that Flare appears to have tried “to only give 15% of what they promised.”
Flare Grows At The Cost Of Ripple’s XRP Community
Schwartz added that Flare initially strengthened its commitment to the XRP community when it thought it no longer required its members before using the community to develop. The Ripple CTO softened his tone and emphasized that his statement was not meant to disparage Flare Networks when he closed the Twitter chat. However, this does not imply that they are dishonest or that their project is flawed. Some of the early “promises” made by Ripple’s XRP were broken as the technology developed.
Schwartz further said,
“You can love Flare and love XRP too. It’s not one or the other. But I don’t have happy fuzzy feelings about how it went down.”
Early this week, the long-awaited Flare Network airdrop to XRP holders finally happened as a result of key exchanges announcing their support.
The Flare token IOU on the Bitrue exchange has decreased by more than 64% in the previous 24 hours, according to an image shared by XRP fan Bill Morgan.
The FLR/USDT pair on Bitrue has experienced a significant dump in the last two days, as can be seen on the TradingView chart. On Jan. 9, the token saw a flash crash and hit a low of $0.15 before rebounding to trade at $0.30 today. It is still down 33.24% as of the time of publication, a substantial amount from the $0.53 high set on January 8.
The first exchange to allow trading of FLR-pegged IOUs was Bitrue. In less than 15 hours, “real” FLR tokens will be released.