Flare Network proposes to allocate 510 million FLR to enhance the Flare ecosystem

ChainCatcher news, the L1 project Flare Network has initiated the FIP.09 proposal, allocating an initial 510 million FLR from a 2 billion incentive pool to attract builders and support Flare liquidity. This will be the first time any tokens are allocated from the incentive pool. Future governance proposals will require community approval for the distribution of the remaining incentive pool. A "distribution committee" composed of six representatives from both Flare and non-Flare will be responsible for guiding the distribution to dapps and protocols built on Flare.

Each month, the committee can allocate any maximum amount, with voting starting on Friday, June 28.