Flare Tokens Airdropped to XRP Holders After Two Years, FLR Price Plummets 70%

Flare, which initially aimed to become a decentralized finance (DeFi) application that utilized XRP tokens, has gradually transitioned to a layer 1 blockchain and oracle provider. Layer 1 refers to base blockchains, such as Ethereum or Solana, while oracles are third-party services that fetch data from outside a blockchain to within.