(updated on 21 January 2022)
Crypto.com will be supporting the Flare Network’s Songbird (SGB) airdrop.
Users who have participated in the FLR distribution on the Crypto.com App and Exchange, will receive SGB tokens in a single drop. The SGB will be distributed once the technical background is prepared.
About Songbird (SGB) Token
Songbird is the Canary network for Flare, which is an operational blockchain with a defined token supply. Prior to the launch of Flare, Songbird is key to the continuous testing of the Flare Time Series Oracle (FTSO), the StateConnector, F-Asset systems, and the network architecture. Post-launch, it will be used as a long-term network for testing governance-led changes for the Flare mainnet, such as the incorporation of new F-Assets, changes to the FTSO, F-Asset systems, or any other network change.
SGB is Songbird’s own token, which will be distributed once and in the same ratio to all the same recipients of the FLR distribution. There will be a starting supply of 15 billion, with initial inflation of 10% p.a. through the FTSO and validator rewards systems.
Updates on 21 January 2022
Songbird (SGB) token distribution to XRP holders has started on 21 January 2022. The distributed SGB token amount for each user holding XRP is calculated based on the formula as follows:
User A = (XRP held by User A at the time of snapshot/Total XRP held by Crypto.com at the time of snapshot)*Total SGB received by Crypto.com for the token distribution
