Upbit, a top-tier centralized cryptocurrency exchange (CEX) popular with Korean users, made an important announcement about Songbird (SGB) distribution support today, October 1, 2021.
SGB tokens will be distributed among Upbit users.
According to an official announcement on Upbit’s main website, the company’s team has finally agreed to support SGB distribution. As a result, all Spark (FLR) airdrop participants will also receive their SGB.
@FlareNetworks @CommunityFlare @ftso_au @ftso_eu @upbitglobal
Korean largest exchange Upbit announced $SGB supporting today! Good job~!!! https://t.co/3rqB6jpY1D pic.twitter.com/SSfKGjGpn8
— Weliton (@Weliton74899148) October 1, 2021
Upbit also revealed the distribution rate: for every XRP, FLR fans will receive 0.1511 SGB. The precise airdrop schedule will be announced later.
At the same time, there is an error in the announcement: Upbit refers to Songbird as a Flare testnet, but it is actually a “sister chain.” Flare’s testnet, Coston, was launched in the second quarter of 2021.
In contrast to testnets, Flare’s Songbird uses “real” native tokens rather than faucets for sandbox assets.
SGB trading began with a rally.
Songbird, as previously reported by ULTCOIN365, began distributing SGB tokens to participants in its snapshot on September 19, 2021. SGB delegated received their first rewards on September 25, 2021.
Because Upbit has not confirmed the continued listing of SGB, the only exchange that allows trading in SGB/XRP and SGB/USDT pairs is XRP-centric Bitrue.
The SGB price nearly tripled in the first few hours of trading.
