This post was written by Neil on Oct 27, 2021

Flare Finance SGB Snapshot & ExFi Airdrop | Songbird Network

$ExFi Distribution

Last Updated 11:49am, ACST, 4th November, 2021 - If you’re aware of any updates please tag / mention FTSO AU in the relevant Tweet.

Exchanges

Bitrue, Coinone, GOPAX, Uphold

Wallets

Bifrost, D’Cent, Ledger, MetaMask

ExFi — $SGB Snapshot Details

Due to numerous requests from several supporting exchanges and our fellow community members, #FlareFinance has decided to push the snapshot date back to December 12th, 2021 at 7PM CET.

At this time, all holders of $SGB and $WSGB will receive ExFi Token $EXFI (originally named $SFLR), the secondary governance token and primary fee replacement token used on the ExFi Platform.

$EXFI will have the following allocations and will be distributed directly to holders of $SGB and $WSGB:

Distribution Ratio: 1 $EXFI = 235.275 $SGB

Total Supply: 110,000,000 $EXFI

Airdrop — 40,000,000 $EXFI

Yield Cloud — 40,000,000 $EXFI

Foundation Reserves — 20,000,000 $EXFI

Team Allocation — 10,000,000 $EXFI

$EXFI will be used in various ways across the ExFi Platform including:

~ Being used as a fee replacement token on FlareX.

~ Being used to farm for yield in the form of $SFIN on FlareFarm.

~ Being used to create $CAND on FlareLoans, which can optionally be used to farm more $SFIN.

Additionally, when the remaining 4 products are released, $EXFI will be used to:

~ Purchase NFT’s and participate in auctions on FlareDrop.

~ Provide to coverage pools and purchase coverage on FlareMutual.

~ Vote on FlareGovernance and enact change across ExFi.

Snapshot and ExFi “Gamma” Timeline

Date TBA, 2021 — Snapshot of all balances of $SGB and $WSGB will be added, regardless of being held in a wallet, contract, or exchange. (The contract or exchange receiving the $EXFI will need to support the distribution for you to receive your airdrop. We can not reimburse any tokens that are airdropped to unsupported contracts or exchanges.)

Date TBA, 2021 — $EXFI will arrive in all wallet addresses that held $SGB and $WSGB.

Date TBA, 2021 — ExFi “Gamma” will begin with FlareFarms v2 and FlareLoans v2 launching to reflect new rewards in the form of $SFIN. It will support $EXFI yield farming and minting $CAND with $EXFI.

Date TBA, 2021 — Halborn Audit will be released signaling a secure launch for Flare Network Mainnet Launch. Additionally, internal audits from TrailOfBits and CertiK will be released to reflect change from initial point of development to present day status.

Date TBA, 2021 and forward — ExFi will operate on Songbird Network redubbed to “Songbird Finance” as the main point for deploying experimental finance modules in hopes of these new modules being pulled from Songbird Finance into Flare Finance.