On 26th, crypto exchange Bitrue reported that it has listed SGB and allows trading of this coin on its platform. The new listing of Songbird (SGB) started at 19:00 on the 27th.
Bitrue has become the first crypto exchange to list SGB, a governance token of Songbird which is a “canary network” for Flare (FLR) blockchain.
Like Flare, SGB tokens can be used to play a governance role. The network has two purposes, one is pre-testing applications and building communities for deployment on Flare, and the other is a period for FLR token holders to become accustomed to Flare’s main protocols.
Currently, there are two trading pairs available for SGB transactions; SGB/XRP and SGB/USDT.
Bitrue announced early support for the launch of Songbird as of July this year. The Flare Network reported that it will distribute SGB tokens according to the amount of XRP held by XRP users in December. The company’s blog post read:
“You will receive an amount of Songbird on Bitrue according to the amount of XRP that you held on the exchange on December 12, 2020, which was the date of the XRP snapshot for Flare. While you can already buy FLR as an IOU on Bitrue, the amount of FLR (IOU) that you hold will have NO bearing on your Songbird SGB distribution.”
With the listing, all FLR supporters who received SGB via airdrop can trade and withdraw via the Bitrue platform.