FLR

Flare

Layer 1

An EVM chain with built-in oracles that turns XRP into DeFi collateral, while its own token keeps sliding.

XRP niche, weak token v1.1 · as of 2026-10-21 · framework v1.13 Coinsight · all analyses
Bottom line

Flare found a real niche in 2026: FXRP brought ~158M XRP into DeFi, and governance cut inflation from 5% to 3%, raised fee burn and set up FIRE to buy back FLR. The token has not benefited: −63% over a year, −96% from its launch-week high, with only ~$2.5M traded per day. New supply of up to 3B FLR a year still dwarfs an estimated ~0.3B burned, so the case rests on FIRE buybacks and FXRP growth showing up in hard numbers.

Scorecard (1–5)
Project
Token performance
Tokenomics
Price
$0.006562
+3.0% 24h · −4% 30d · CoinGecko 21 Oct
Market cap
$574.0M
rank #106 · FDV $700.8M, no max supply
24h volume
$2.50M
0.4% of market cap
From cycle high
−88%
$0.0560, Feb 2024 · launch ATH $0.1501 = −95.6%
2026 YTD
−36%
$0.0102 → $0.006562
FXRP minted
~158M FXRP
≈ $210M at XRP $1.33 · DefiLlama, undated

The last 12 months

$5000/M$0.01$0.015$0.02$0.025Oct 25NovDecJan 26FebMarAprMayJunJulAugSepOctNovDec2025-10-22: $0.0177$0.01772026-01-07: $0.0126$0.01262026-05-15: $0.009368$0.00942026-08-19: $0.005877$0.0059 low2026-10-21: $0.006559$0.00661Firelight stXRP launches2EarnXRP vault opens3FlareDrop ends4FXRP passes 100M5FIP.16 proposed6FIP.16 passes, 98% yes7FAssets v1.3 live8Year low at $0.00599MEV capture and TEE fees10FBTC on FAssets
ProductAdoptionTokenomicsGovernanceTechMarketUpcoming

Daily closes from CoinGecko, 22 Oct 2025 to 21 Oct 2026. Between 10 Jan and 27 Mar 2026 the series shows spikes near $0.015 to $0.019 that other price sources do not confirm (~$0.008 to $0.013), so they are treated as bad prints.

Key events
  1. 1
    15 Nov 25 Firelight stXRP launches. Liquid staking for FXRP goes live in November; the first 25M FXRP cap fills quickly.
  2. 2
    15 Dec 25 EarnXRP vault opens. Upshift and Clearstar vault for FXRP later passes $33M from 7,000+ depositors.
  3. 3
    30 Jan 26 FlareDrop ends. Final monthly payout of the 36-month airdrop, ending a recurring source of new float.
  4. 4
    15 Feb 26 FXRP passes 100M. About 100M XRP bridged into Flare, most of it deployed in lending, staking and vaults.
  5. 5
    10 Apr 26 FIP.16 proposed. Inflation 5% to 3%, base fee 20x, MEV capture and a new FIRE buyback-and-burn entity.
  6. 6
    24 Apr 26 FIP.16 passes, 98% yes. Inflation cap drops to 3B FLR a year; FIRE starts collecting FAssets fees in May.
  7. 7
    14 May 26 FAssets v1.3 live. Mint FXRP straight from exchanges via memo routing; FLR rallies to $0.0094 the next day, then fades.
  8. 8
    19 Aug 26 Year low at $0.0059. Low of a steady slide from May, −67% from October 2025; a modest bounce follows.
  9. 9
    Soon MEV capture and TEE fees. Designated block builder and confidential compute fees, staged after FIP.16, are due to feed FIRE.
  10. 10
    Soon FBTC on FAssets. Bitcoin version of FXRP expected in 2026 per secondary sources; no firm date.

How XRP becomes FXRP on Flare

XRP holder
Sends XRP on the XRPL

To an agent address with a memo or tag; since v1.3 also straight from an exchange.

FAssets agent
Holds the XRP

Backed by stablecoin vault collateral plus an FLR collateral pool.

Data Connector
Proves the payment

Flare data providers attest that the XRPL payment happened.

FAssets contract
Mints FXRP 1:1

Minting fee charged; part goes to FIRE.

DeFi app
FXRP put to work

Firelight stXRP, Kinetic lending, Upshift vaults.

Redeemer
Burns FXRP for XRP

Agent pays out XRP, or collateral is paid out if it fails.

Where FLR comes in: every Flare transaction burns FLR as gas, agents lock FLR in collateral pools, and data providers stake FLR and earn new inflation for running price feeds and attestations. FIRE turns FAssets and attestation fees into FLR buybacks and burns. The XRP itself never touches FLR, so FXRP growth helps FLR only through these fees.

Usage and adoption

FLR per year (billions), after FIP.16
Fee burn (estimate)
~0.3B
FAssets incentives (Jul 25–Jul 26)
2.2B
Inflation cap (3%)
up to 3.0B

Burn is the FIP.16 projection of ~300M FLR a year at current activity, roughly matched by an independent estimate of ~75M FLR in 90 days; FIRE buybacks come on top but no total has been published. New issuance is capped at 3B FLR a year (~$20M at today's price); the 2.2B FAssets incentive budget is a one-year distribution of existing tokens. On these numbers burn offsets about a tenth of new supply.

  • medium signal
    Fee burn
    ~0.3B FLR / yr

    Estimate after the 20x base-fee rise, ≈ $2M a year at $0.0066. Paid usage, but small.

  • strong signal
    FXRP supply
    ~158M FXRP

    DefiLlama token page (undated); passed 100M in Feb 2026. Real XRP locked with agents, not FLR demand directly.

  • medium signal
    Firelight stXRP
    ~$73M

    Staked FXRP, June 2026 figure; cap raised to 65M FXRP.

  • weak signal
    Network TVL
    $151M–$457M

    Two May 2026 reports disagree; depends on whether FXRP and FLR staking are counted.

Flare's adoption story is XRP in DeFi: FXRP supply is the number to watch. For FLR holders the scoreboard is burn plus FIRE buybacks against 3B FLR of yearly issuance, and on current estimates burn covers only about a tenth.

Project

What it is
An EVM-compatible Layer 1 (mainnet 2022, token trading since Jan 2023) whose validators also run two enshrined data protocols: FTSO price feeds and the Flare Data Connector, which proves events on other chains. Its main product is FAssets, which turns XRP into FXRP for DeFi.
Team
Built by Flare Labs, co-founded and led by CEO Hugo Philion; the Flare Foundation runs governance proposals (FIPs) and holds the ecosystem treasury. FLR was first airdropped to XRP holders.
Technology
Oracles are part of the protocol, not a third-party add-on: the same data providers that secure the chain vote on prices and on cross-chain proofs. That lets FAssets mint FXRP only after the XRP payment is proven on the XRP Ledger.
Traction
FXRP passed 100M in Feb 2026 and ~158M since. Firelight liquid staking (stXRP) held ~$73M in June. Network TVL figures conflict: ~$457M (11 May) vs ~$151M (28 May 2026).
Competitors
Other routes for XRP into DeFi (the XRPL EVM sidechain, bridged XRP on Ethereum and Solana, XRPL's own AMM), and Chainlink and Pyth as oracle providers.
Key risks
Usage is concentrated in one asset (XRP); FAssets depend on agents and collateral holding up in a crash; thin FLR liquidity; inflation still far above burn; much of the new demand accrues to FXRP, not FLR.
Roadmap
Announced but not yet live or not confirmed: FBTC (Bitcoin via FAssets, expected 2026), protocol-level MEV capture through a Flare-designated block builder, confidential compute (TEE) fees and Firelight phase 2 (insurance layer), all feeding FIRE.

Token performance

1-year return (22 Oct 2025 → 21 Oct 2026, CoinGecko)
FLR
-63%
BTC
-22%
ETH
-35%

FLR fell almost three times as much as BTC over 12 months. Over 3 years it is about −27% (from ~$0.009 in Oct 2023, near its $0.0083 all-time low of 19 Oct 2023) vs BTC ~+179% and ETH ~+53%; 3-year figures are researched by hand, because the free CoinGecko API covers 365 days.

Range 2026
$0.0059 low (19 Aug) to ~$0.0126 high (7 Jan), daily closes; now $0.0066. CoinGecko's $0.019 (22 Mar) is a bad print, see caveats
12-month drawdown
−67%, from $0.0177 (22 Oct 2025) to $0.0059 (19 Aug 2026)
Liquidity
$2.5M traded in 24h, 0.43% of market cap; rank #106. Very thin for a $574M asset
Relative strength
−63% over a year vs BTC −22% and ETH −35%; YTD −36%. Brief pops (FAssets v1.3 in May, late September) faded within weeks
Launch-spike ATH Launch-spike ATH. The $0.150 high came on 9 Jan 2023, the first days of trading after the airdrop, and price never returned within 50% of it; the best later level was ~$0.056 (Feb 2024), so that cycle high is used as the reference.

Tokenomics

Supply
~106.8B FLR total, ~87.5B circulating (82%); no maximum supply. FDV ~$701M vs $574M market cap.
Inflation
FIP.16 (passed 24 Apr 2026, 98% yes) cut inflation from 5% to 3% a year and the cap from 5B to 3B FLR. New FLR pays data providers, validators and delegators.
Unlocks
The 36-month FlareDrop ended on 30 Jan 2026, removing the monthly airdrop unlocks. The 2.2B FLR FAssets incentive program (Jul 2025 to Jul 2026) added ecosystem float.
Utility
Gas (base fee burned), delegation and staking to data providers, FAssets agent pool collateral and fees, governance votes.
Concentration
~19B FLR is not circulating, mostly Foundation and ecosystem allocations; the Foundation steers incentives and FIRE. Exact holdings not verified.
Sinks
Base gas fee raised 20x (est. ~300M FLR burned a year); FIRE buys and burns FLR with FAssets, attestation and future MEV fees. No ETF.

Bull case

FXRP keeps growing and FBTC launches, so FIRE fees and gas burn start to offset a real share of the 3B FLR issuance cap. Price holds the $0.0059 August low and reclaims the ~$0.0094 May high; a move back to the $0.0126 January level would be a double.

Bear case

XRP DeFi stays a few hundred million dollars and fees remain small, so 3% inflation keeps pressing on a thinly traded token. A break of the $0.0059 low would open a retest of the all-time-low zone; on $2.5M daily volume any large holder exit moves the price sharply.

Watch before the next re-run

  • FXRP supply and Firelight stXRP each month
  • FIRE buyback and burn totals once published
  • FBTC and MEV capture launch dates
  • $0.0059 August low and daily volume above $5M

Where to trade

Krakenlisted

FLR against EUR · USD

24h $288.2k · ±2% depth $254.9k

OKXlisted

FLR against EUR · USDT · USDC

24h $124.9k · ±2% depth $305.2k

Largest exchanges

Exchange24h vol±2% depth
BybitFLR/USDT$354.6k$208.4k
CoinbaseFLR/USD$351.6k$545.9k
KrakenFLR/USD$277.9k$274.6k
OKXFLR/USDT$121.3k$257.0k
GateFLR/USDT$97.8k$432.0k

Deepest DEX pools

Pool24h vol±2% depth
SparkDEX V4CLFLR/FXRP · Flare$463.8k$46.0k
Enosys V3CLFLR/FXRP · Flare$200.7k$40.2k
SparkDEX V4CLFLR/WETH · Flare$78.1k$4.05k

Pool size (TVL), fee tier and fee APR are not in yet: they need DefiLlama, which this setup cannot reach so far. CL = concentrated liquidity (higher fees, more impermanent-loss risk).

On-chain share of all FLR volume: 27.5%.

As of 21 Oct 2026 · CoinGecko tickers (24h volume, ±2% depth). ±2% depth is the money it takes to move the price 2% either way: the real size of a market. Exchanges ranked by volume among well-known venues; pools by depth. Not investment advice.

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