Flare is an EVM-based layer 1 aiming to make blockchain more useful by giving developers decentralized access to high-integrity data from other chains and the internet. This enables new use cases and monetization models, while allowing dapps to serve multiple chains through a single deployment.
FLR is the native token used for payments, transaction fees to prevent spam attacks and staking in validator nodes. FLR can also be wrapped into an ERC-20 variant, WFLR. WFLR tokens serve various functions; they can be delegated to FTSO data providers, for example, or used to participate in governance. These two uses are not mutually exclusive and do not prevent the tokens from being used in other EVM-compatible dapps and smart contracts on Flare.
Wrapped FLR (WFLR) can be minted by depositing native FLR tokens into a smart contract and withdrawing the newly minted WFLR.
