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SGB, a core native asset of Flare’s “canary network,” Songbird will be distributed between the clients of the large centralized exchange.
SGB comes to MEXC Global
According to the official announcement shared by MEXC Global cryptocurrencies exchange, it will support the airdrop of SGB tokens to XRP holders.
MEXC Global will support the $SGB #Songbird and $FLR @FlareNetworks airdrop program for $XRP @Ripple holders.
The snapshot took place at 2020-12-12 00:00 (UTC).
For every 1 $XRP at the time of the snapshot, users will receive 0.1511 $SGB.
Details: https://t.co/O9NmVyDhQf pic.twitter.com/kXqznw1Mmj
— MEXC Global (@MEXC_Global) October 8, 2021
All XRP holders who took part in the snapshot of Dec. 12, 2021, will receive their SGB tokens from Flare Networks.
MEXC Exchange revealed the exact airdrop rate: for every one XRP held on Dec. 12, its owner will receive 0.1511 SGB. The exchange team is preparing all of the necessary technical instruments for this airdrop, so its time and date will be disclosed soon.
MEXC Exchange is ranked in the top 100 of CoinMarketCap’s exchanges by trading volume. Launched in 2018, it supports USD, GBP, EUR, AUD and VND fiat currencies.
First two billion SGB are sent to FTSOs
Also, SGB delegation processes are up and running. As per the estimations of the Flare Networks team, the first two billion SGB are already sent to Flare Time Series Oracles, e.g., the validation mechanisms of Songbird.
Currently there are ~2BN SGB delegated to the FTSO. This means that all the FTSO rewards (1.5 Bn SGB over the next year) are going to the holders of those 2Bn tokens (apart from the fee paid to data providers). Early delegators are benefiting greatly.
— Flare (@FlareNetworks) October 8, 2021
Their stakers will distribute 1.5 billion SGB in bonuses over the next year.
As covered by U.Today previously, Flare Networks launched Songbird as a “canary network” to stress test Flare’s technical and economic concepts.
On Sept. 17, 2021, the first SGB tokens were airdropped to FLR enthusiasts. After listing on Bitrue, the SGB price rallied 40%.