Flare Networks decided to stress test its mechanisms via “canary network” Songbird. To emulate real-life tokenomic designs, it minted a limited supply of SGB tokens to airdrop them between FLR holders.

cryptonews.net

Top-notch platforms support SGB airdrop

According to the official announcements, top-league centralized exchanges are ready to support SGB distribution to FLR holders. Flagship Latin American platform Bitso is among the first to share the news of such support.

Latin americans have a great exchange that will support all AirDrops of @FlareNetworks and #SongbirdNetwork .

Thanks @Bitso for your confirmation!!!#bitsocumple @sentosumosaba @RuleXRP https://t.co/qBCBBmfkNI

— CriptoSaurios (@criptosaurios) July 26, 2021

In a few days, similar statements were published by Altcoin Trader, the largest cryptocurrency trading ecosystem in South Africa, and EXMO, an iconic “one-stop” platform for CIS crypto enthusiasts.

Previously, the Flare Networks team announced the rules of the airdrop for centralized platforms. The same FLR-native address will be used for this distribution:

All exchanges that are supporting the distribution of $FLR will also receive $SGB to the same address that they provided for the $FLR distribution (but with a different chain ID). They can distribute $SGB to their customers when and if they feel comfortable to do so.

At the same time, the “Chain ID” parameter will be different. Each exchange is free to choose the most suitable timeline for the airdrop itself.

Why is Songbird (SGB) crucial for Flare’s mainnet?

Songbird (SGB) is a “canary network” of Flare (just like Kusama is to Polkadot). Unlike Coston testnet, it has a limited token supply. Thus, its tokens cannot be distributed with faucets.

As covered by U.Today previously, Flare CEO Hugo Philion stressed that Songbird is designed to emulated complex financial designs that are expected to go live on Flare.

Due to enormous interest and hype around the project, it cannot be released in mainnet after ordinary “sandbox” tests.

Leave a Reply

Your email address will not be published.