Flare Networks Is Set To Airdrop another Token to XRP Holders. Who Are Those Eligible? Details

Flare Networks, the world’s first Turing complete Federated Byzantine Agreement (FBA) network, has revealed that it’s ready to airdrop another token called SGD, the native token of Canary network known as Songbird, to XRP holders who were part of Spark (FLR) airdrop snapshot in December 2020.

This new development was announced on 20th July 2021. According to the report, Songbird (SGB) will be airdropped to those who are eligible in six weeks’ time.

The blog post describes Songbird (SGD) as critical to Flare Networks’ architecture and core systems, such as a Time Series Oracle, and F-Asset system.

In the post, Hugo Phillion, the CEO and founder of Flare pointed out that Songbird is designed to be an operational blockchain and adversarial environment for live testing.

The blog post reads in part as follows:

“A “Canary network” is an operational blockchain with a defined (and hence scarce) token supply that is intended to be used to test features for a related main net. On a Canary network users have a balance that cannot just be replenished at will. This is in contrast to a testnet which generally has an unlimited token supply available in increments to any user through a faucet.

“The defined and scarce token supply may confer value to the token, potentially making it attractive to attackers such that testing is as “real” as it can possibly get. This allows for the hardening of the system under testing. Polkadot is the originator of the Canary network concept, with their Kusama Network.”

Purpose of Songbird

The report says Songbird has distinct phases as aforementioned. Before the official launch of Flare, Songbird will play an important role in the continued testing of the Flare Time Series Oracle (FTSO) and F-Asset systems and the network architecture. After the launch of Flare, Songbird will transform into a long-term network for testing governance-led changes to Flare.

Stressing the two other core uses of Songbird, the post says it’s meant for the “advanced testing and community building for applications that wish to launch on Flare. Ideally, all applications that launch on Flare, especially those that utilize the FTSO and F-Asset systems will test initially on Songbird.”

Secondly, the post says Songbird is “a way for FLR token holders to familiarize themselves with key Flare protocols such as delegation to the FTSO, minting of F-Assets and usage of applications that build on Flare without putting their FLR tokens at risk.”

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Tobi Loba

Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.