Flare Networks has announced a new Airdrop Fork in conjunction with the launch of its Canary Network, named "Songbird." $XRP holders who participated in the Flare Network (FLR) Airdrop snapshot in December will receive tokens on Songbird. Songbird is a distributed network that runs on the Avalanche consensus protocol adapted to Federated Byzantine Agreement and uses the Ethereum Virtual Machine, making it a scalable solution for smart contract networks without relying on economic safety mechanisms. The decoupling of network safety and the native Spark token offers flexibility in how the token can be utilized. Songbird will play a key role in testing Flare's systems and network architecture before the official launch, enhancing security, stability, and credibility.
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About Flare Network
Songbird will introduce its own token, Songbird ($SGB), which will be distributed once to all recipients of the FLR distribution in the same ratio. The initial total supply will be 15 billion tokens with an annual inflation rate of 10% through the FTSO and validator reward systems. This means that for every 1$XRP held at the time of the snapshot, 0.1511$SGB will be allocated. The platform utilizes the Ethereum Virtual Machine to scale smart contract networks without relying on economic safety mechanisms, offering flexibility in token use. Songbird will play a crucial role in testing the Flare Time Series Oracle, StateConnector, and F-Asset systems, enhancing security, stability, and credibility for the eventual launch of Flare. The FTSO and F-Asset protocols will be operational on Songbird, generating F-Assets from underlying tokens.
Step-by-step guide
$XRP holders who participated in the Flare Network (FLR) Airdrop snapshot in December 2020, will receive a Second Airdrop. The total starting supply will be 15 Billion $SGB 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 the Flare Network (FLR) Airdrop 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. 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 doing so.
Disclaimer: This content is for educational and informational purposes only and does not constitute financial advice. Conduct thorough research before making any deposit/investment decisions (DYOR).
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