This post was written by Neil on Jul 26, 2021
We’re communicating with as many exchanges as possible, encouraging them to distribute your $SGB tokens.
The below list will be updated as each exchange makes their intentions known. There’s also now a category for Petitions.
Exchange $SGB Distribution:
Last Updated 10:18pm, ACST, 15th October, 2021 - If you’re aware of any updates please tag / mention FTSO AU in the relevant Tweet.
AltCoinTrader, Bitkub, Bitrue, Bitso, Bitstamp, Bithumb, BTC Markets, Celsius Network, CoinField, Coinone, Coinspot, Colodax, Crypto.com, eToro, Exmo, GateHub, GOPAX, Itrust Capital, Korbit, MEXC Global, NDAX, UPbit, Uphold, Youhodler, ZB.com
BigONE, Binance, Bitbank, BitFlyer, Bitpanda, Coincheck, Kraken, Nexo, Revolut, SBI VC Trade, Swyftx, VALR,Voyager
AnchorUSD, Binance.US, Bitcoin Suisse
Aprobit, Bidesk, BiKi, B4Y, Bitay, BitBay, Bitbns, Bitcoin Meester, Bitcoinira, Bitexen, Bitfinex, BitMax, BitNational, Bitpoint, Bittrex, Bittrex Global, BKEX, Bluehelix, Boboo.com, BTC-Alpha, BTCFX, BTCNext, BtcTurk Pro, BTSE, CEX.IO, ChainEx, Coinbase, Coinbit, CoinEx, Coinmerce, Coinzo, Coinzoom, DeCurret, Digital Surge, DMM Bitcoin, eToroX, Flybit, Foblgate, FTX, Gate.io, Giottus, GMOCoin, Hanbitco, HBTC, Huobi, ICRYPEX, IndoDax, Kucoin, Line Bitmax, Liquid, Mexo.io, MiraiEx, Naga, OKCoin, Paribu, Phemex, Poloniex, Probit, SEBC, STEX, Tokens, Wazirx, Young, Zebpay, Zipmex.
Please note, if you self custody you will receive $SGB.
For more information on Songbird and Flare Network Launch dates please see this post.
More About Songbird
The much anticipated update from Flare Network has come and gone, with the recent announcement of Songbird, a “Canary Network”. A Canary network is an operational blockchain with a defined (and hence scarce) token supply that is intended to be used to test features for a related mainnet.
It’s planned for approximtely 6 weeks from the time of announcement, 20th of July, which will put it around the end of August.
The good news, and something that will hopefully soften the blow (Flare Network launch will be delayed) for many, is there’ll be an additional airdrop for the network token, $SGB.
Some important excerpts from Hugo’s communication …
Songbird will have its own token, Songbird ($SGB), which will be distributed once only and in the same ratio to all the same recipients of the FLR distribution. Total starting supply will be 15 Billion with initial inflation of 10% per annum through the FTSO and validator rewards systems. This means for every 1 XRP that was held at the time of snapshot 0.1511 SGB will be allocated.
There will be no pre-defined minting rewards pool, instead that supply will remain with the Flare Foundation. If you claimed FLR through self custody, you will use the same Ethereum style address but with a different chain ID to access Songbird. If you claimed your FLR through an exchange they will receive SGB on your behalf. You will need to ask them to distribute it to you.
The final line “You will need to ask them to distribute it to you” has caused a fair amount of concern.
All exchanges have been advised of Flare’s plan to launch Songbird and their intentions for the airdrop.
Unfortunately, unlike the Spark ($FLR) airdrop, where Flare were able to dictate the terms, with $SGB there are no such mandates in place. The exchanges will receive the $SGB tokens to the addresses that they will receive $FLR (different chain ID) and they can distribute $SGB when and if they are comfortable to do so.
The “hesitation” an exchange might have is due to the possible misconception that a Canary network is a test network, therefore not having the required security of a mainnet, and the token not having any value - Both being false.
Other factors such as the timeframes, limited information and unplanned resource allocation have been cited.
Hugo Phillion Speaks About Songbird
We were lucky enough to secure an interview with Hugo, shortly after the announcement, where he and Tim discussed Songbird, their recent $11.3m funding round, why the delay in launching Flare and much more.
It’s a really informative video, we suggest you take the time to watch it or listen to the Podcast, linked below.
Looking to level up your knowledge on Flare Network and Songbird Canary Network? See our “Getting Started” guide for lots of useful articles.
This is Tim’s first Podcast, please support him by listening.