Popular crypto exchange Binance announced on Thursday that it will support the Songbird airdrop initiative for the XRP holders. Distribution volume will be based on the token snapshot at the first validated XRP ledger index number on December 12, 2020.
— Binance (@binance) October 28, 2021
In addition, the distribution ratio is 0.1511 SGB per 1 XRP. If the amount of XRP held at the time of the snapshot is 10 XRP or less, or if a user is a resident of the United States, they will not be eligible for the program.
“Binance will distribute SGB tokens after the project has completed the SGB token distribution to XRP holders.”
The official announcement also noted that the Binance airdrop program with Songbird does not promise a Binance listing of SGB tokens. Binance explained that it will go through the same rigorous screening process as other cryptocurrency stocks.
Songbird is the canary network of Flare, a blockchain network based on the Flare Consensus Protocol – the first Turing Complete Federated Byzantine Agreement protocol. A canary network is an operational blockchain that tries out new features before launching on the mainnet.