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LifestyleTranscript
00:00I know that we've seen Hugo make some noise, getting back into a lot of different discussions lately.
00:07I know there's a lot of people in the XRP community that are really bullish on Flair, but what do you think is going on and where do you see that going in the short term and the long term?
00:16Um, it's interesting to me when the snapshot was taken, I think a lot of the people that would have redeemed the Flair would have been banks and institutions and enterprises that had ripple partnerships previous to the lawsuit.
00:30Yeah, right. They had gotten an allocation of XRP, especially the larger wallets. There were 2.7 million wallets that were taken and the snapshot was taken of in December 12th of 2020.
00:42Yeah. Um, obviously the, you know, there was speculation on the price when the futures were, were launched on finance or maybe it was a bit true. I don't remember which one they were trading on, but it was at like 50 cents before the distribution actually happened.
00:56And then it plummeted after that down to less than a penny at one point. Um, and, and maybe that was to, you know, get people to liquidate their holding or not continue to stake it and earn yield on Bifrost because it wasn't going to be meaningful.
01:09But, uh, I do think that there's going to be a lot of applications for DeFi using that protocol that maybe the banks and the enterprises that were holding it during the snapshot will roll out, uh, in competition to Ethereum and DeFi and a lot of these other things that people have been using over the past four years here.