Flare is an EVM-based layer one blockchain solution that helps developers decentralize access to data from other blockchains and other external online sources, while FLR (formerly Spark) is the native token used to interact with smart contracts and pay transaction fees.
To connect Flare to Koinly, you need your public address and the exact steps for this will vary depending on your wallet. You'll find easy to follow steps on how to get your Flare public address for hundreds of wallets here, but generally speaking, it's as simple as:
Don't forget, in order for Koinly to calculate your crypto taxes correctly you’ll need to add your public address from every wallet you use to interact with Flare.
Remember, if you're using multiple wallets to invest in FLR, you'll need to connect each of these wallets to Koinly in order to calculate your transaction history correctly.
If you're having any issues connecting Flare and Koinly, we're here to help:
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Flare is an EVM-based layer one blockchain solution that helps developers decentralize access to data from other blockchains and other external online sources, and overall helps improve blockchain interoperability.
Formerly Spark, FLR is the native token for the Flare blockchain. You can use FLR tokens for payments and transaction fees, as well as buy, sell, and trade FLR as you would any other token, and earn FLR tokens as staking rewards. Flare is also available as a wrapped ER20 variant - WFLR.
Flare uses a Proof of Stake consensus mechanism.
You can find the current price of FLR on price aggregators like CoinMarketCap or CoinGecko. FLR has previously had an all-time high of $0.0797 and an all-time low of $0.0227.
Yes. Your FLR tokens are taxable, just like any other cryptocurrency or token. Crypto tax varies depending on where you live, but generally speaking, you'll pay Capital Gains Tax when you sell, swap, or spend FLR tokens, and Income Tax upon receipt when you earn new FLR tokens. Check out our crypto tax guides for more information about where you live!