![]() ![]() Number of Flare tokens for User A = (Number of XRP tokens held by User A at snapshot / Total XRP held by Revolut at Snapshot) x Total Flare tokens received by Revolut during the airdropĪccording to Flare’s blog, they expect that for every 1 XRP held as of the snapshot date, each user will receive a total of 1.0073 FLR.Ĭryptoassets are volatile and not regulated or protected by investor compensation schemes – value can go down or up. As we said in our original blog post, if we can support the airdrop, the allocation of tokens will be calculated as follows: The total amount of tokens allocated to the public distribution (28,524,921,372 FLR) is the same regardless of the chosen method. There are two possible public token distribution methods as mentioned (a one off airdrop, or 30 total monthly airdrops), so first, Flare has to settle on one. How many tokens will each person receive? This process can take time, but we’ll keep you posted via this blog (or email, if you’re eligible to receive the token) Finally, as with any other token in the Revolut app, FLR must pass through a series of internal checks before being listed, including liquidity, financial crime risks, legal, regulatory and other due diligence considerations.Then, our blockchain infrastructure partners will need to provide support for the token - this is critical both for claiming the majority of the airdrop, and allowing us to potentially enable withdrawal functionality in-app for FLR The exchanges that received the Songbird airdrop on behalf of their customers have three options: distribute the tokens to their customers, keep the tokens for themselves, or destroy them in what.Otherwise, we won’t be able to list it as a tradable asset Hugo Philion, the initiator of the modular building system, is the. Next, our trading partners will need to confirm if they’ll list FLR as a tradable asset on their platforms, and that it has sufficient liquidity. Songbird (SGB), recently introduced by Flare, is a blockchain system for the Canary Network.They’ve released more information about this on their blog Flare Network hasn’t decided if they’ll distribute the entire amount in one go during that time, or spread it out across monthly airdrops (this will be decided by vote and could result in 29 additional airdrops!). First and foremost, the airdrop event itself.So, what needs to happen for you to receive Flare tokens? Unless all our partners support the airdrop (and the FLR token), we won’t be able to do so either. Most of these things are beyond our control and depend on our partners. While we’re doing our best to support the airdrop, several things need to happen first to make it possible (keep reading to find out). ![]() If you held XRP tokens in your Revolut account at the snapshot date (midnight UTC, 12 December 2020), you’re eligible to receive FLR - you don’t need to do anything. Binance have become unprofessional and this is outright theft if they do not distribute our SGB. What do I need to do to receive my Flare tokens? ago Binance has received the SGB airdrop, we can see it from the below image/link. ( Update: the event is now expected to occur in January 2023, see here). The Token Distribution Event (or airdrop) is expected to take place between 24 October and 6 November, 2022. The name Spark won’t be used anymore to avoid mix-ups with another existing project. The SGB token serves as the network’s base currency, and may be used in the protocol’s governance.Back in December 2020, we posted this blog to let you know that if you were holding any XRP tokens in your Revolut account at midnight UTC on 12 December 2020, you’d be eligible for the Spark token airdrop.Īfter a couple of years of infrastructure improvements, and a deferral of the original distribution date (initially planned for the summer of 2021), Flare Network announced that they might be ready to distribute their native token: Flare (ticker: FLR). Songbird is intended to serve as an experimental blockchain where developers can test out their projects and governance mechanisms before deploying them to Flare. Songbird is the Canary network for Flare. Keep an eye on the status page for updates. You can add SGB to your Kraken account by navigating to Funding, selecting the asset, and hitting Deposit. ![]() If you held a leveraged short spot position through the snapshot, we’ve waived any negative SGB balances that may have arisen. If you held a leveraged long spot position through the snapshot, you’ll be credited a balance of SGB corresponding to this position. Please note that clients residing in Japan are not eligible for this airdrop. Client accounts (both spot and margin) that held XRP at this time have now been credited with 0.1511 SGB for every 1 XRP held on the platform. The airdrop’s snapshot of XRP balances was taken on Decemat ~00:00 (UTC). We’re thrilled to announce that we’ll be supporting the Songbird (SGB) token airdrop for XRP holders! ![]()
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