Flare Network will burn 2.1 billion FLR

ChainCatcher news, according to CoinDesk, Layer1 blockchain Flare Network will burn 2.1 billion FLR tokens to support the development and overall health of the ecosystem. Approximately 198 million FLR will be burned immediately, and an additional 66 million FLR will be burned monthly until the end of January 2026. More than 2% of the total supply of FLR will permanently exit circulation to prevent dilution of community token holdings. The portion of tokens planned for destruction has been allocated to early supporters of Flare and will not be redistributed thereafter.