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The price of an under-the-radar altcoin has skyrocketed this week, approaching a token giveaway that has been long overdue by the networks involved.
Songbird (SGB), Flare Network’s ‘canary network’, is up more than 88% this week.
The 153rd largest crypto asset by market capitalization is trading at $0.0189 at the time of writing.
explain flare,
A canary network is an operational blockchain with a defined token supply, allowing new features to be tested in production before being deployed on the main network. In contrast to testnets where there are
Big gains for SGB as Flare approaches the long-awaited distribution of FLR tokens on January 9th.
5 days until TDE.
Distribution of FLR tokens will begin on January 9th at 23:59 UTC. Let’s celebrate together.#flare #ConnectEverything pic.twitter.com/y2LGOuJZt0
Flare?? (@FlareNetworks) January 4, 2023
FLR will be distributed to XRP holders based on a snapshot of the network taken in late 2020.
Flare Network aims to essentially bring smart contract functionality to various blockchain networks using native FLR tokens.
The company previously said that each eligible holder will receive 15% of their claimable Spark tokens immediately, followed by an average monthly claim of 3% for a minimum of 25 months and a maximum of 34 months.
US Top Cryptocurrency Exchange Coinbase announced Last month, we announced support for FLR airdrops. At least 55 other exchanges, including Binance Verified Their intention to distribute the FLR to customers within two weeks of the airdrop.
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Featured Image: Shutterstock/VECTORY_NT
Generated image: In the middle of the journey
