What is FIRE?
FIRE (Flare Income Reinvestment Entity) is the governed pool that collects protocol fees from FAssets, Flare Smart Accounts, Flare Data Connector, Flare Confidential Compute, and captured value from DeFi activity with protocol-owned block building.
What does it do?
Primary mandate: reduce FLR supply to the maximum extent possible — burn and buyback.
Secondary: reward asset issuers, support dApp liquidity, fund Foundation operations.
Who is involved? Initially, FIRE is administered by the Flare Foundation, with a committee assembled over time. FIRE can allocate funds only within its defined mandate. If the community deems FIRE unaligned with its interests, it may vote yearly to adopt joint governance.
FIRE (Flare Income Reinvestment Entity) is the governed pool that collects protocol fees from FAssets, Flare Smart Accounts, Flare Data Connector, Flare Confidential Compute, and captured value from DeFi activity with protocol-owned block building.
What does it do?
Primary mandate: reduce FLR supply to the maximum extent possible — burn and buyback.
Secondary: reward asset issuers, support dApp liquidity, fund Foundation operations.
Who is involved? Initially, FIRE is administered by the Flare Foundation, with a committee assembled over time. FIRE can allocate funds only within its defined mandate. If the community deems FIRE unaligned with its interests, it may vote yearly to adopt joint governance.
FIRE has a primary mandate to reduce FLR supply as far as possible, but it also has secondary mandates around ecosystem growth.
How should the community think about that balance from day one?
Join us tomorrow. We're doing real-time AMA as well.
How should the community think about that balance from day one?
Join us tomorrow. We're doing real-time AMA as well.
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