FIP.16 just recorded the highest absolute turnout in Flare governance history by a significant margin. Almost 5.7 billion FLR voted, while the runner-up sits at 2.7B FLR — less than half.
FIP.16 aims to fundamentally relink FLR token economics to existing and growing ecosystem activity. It proposes:
- A cut to the network's inflation rate.
- The introduction of FIRE.
- Changes to block production to capture MEV for the network.
- A shift of rewards toward staked tokens.
Even adjusted for circulating supply, FIP.16 ranks top three in turnout. The only proposals ahead of it are FIP.1 (the first-ever Flare governance proposal) and FIP.6 (which introduced FTSOv2, a major redesign of the FTSO system).
FIP.16 is different. It's a forward-looking redesign of tokenomics and value capture — and the community is engaging with it at a level that says they're paying close attention to a fundamental shift in the network.
For our take, see the thread on X.