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Yesterday, exactly one year after taking a snapshot of XRP balances for the Spark (FLR) token airdrop (which had never been distributed), Flare Finance, a decentralized financial ecosystem, took a snapshot for SGB and WSGB holders for the EXFI token airdrop.
EXFI snapshot taken on December 12
According to the official announcement posted by the Flare Finance team on their Twitter blog, a snapshot of the SGB and WSGB balances was successfully taken at block 4110872.
The snapshot is now complete!
Block Height: 4110872
Everyone prepare to receive your $EXFI over the next few days. 🙌🏼
— Flare Finance (@FlareFinance) December 12, 2021
This happened yesterday at 21:00 UTC. All holders of SGB, the main native token of the “canary network” Flare, Songbird and its wrapped version (WSGB), are eligible for the EXFI token distribution.
As the Flare Finance team explained, EXFI will be a multipurpose utility token for various elements of the future product ecosystem.
Namely, EXFI will be used as a commission token, as a base token for the “profitable farming” ecosystem, and as a collateral asset for the Flare Finance decentralized credit module.
It is predicted that, step by step, the token will turn into a management asset: its holders will have the right to vote in FlareGovernance referendums on critical protocol updates.
Some exchanges, such as Binance, still haven’t given out the promised SGB tokens that users were entitled to. Because of this, the project revised the distribution conditions.
Allocation ratio will be announced closer to the allocation date to give exchanges time to support the Airdrop EXFI, the previous ratio of ~ 235 SGB on EXFI is close but not accurate. Exchanges that are not supported prior to the distribution date will be removed from the distribution, effectively giving each SGB / WSGB holder more EXFI.
The team states that EXFI tokens will be distributed among the airdrop participants in the coming days, although the date was previously stated as January 1, 2022.
As is usually the case after the airdrop, immediately after the shot, holders began selling SGBs.
Image of Coinmarketcap
Within minutes, the SGB price dropped from $ 0.52 to $ 0.3 on all major platforms where Songbird is available.
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