Flare Finance, a pioneering DeFi protocol on the highly anticipated Flare blockchain, shares details of its airdrop
Yesterday, on the first anniversary of Flare’s snapshot of XRP balances for the FLR airdrop, Flare Finance decentralized finance ecosystem performed the same operation for SGB and WSGB holders.
The EXFI snapshot took place on December 12
According to the official announcement shared by the Flare Finance DeFi team on their Twitter account, the snapshot of the SGB and WSGB balances was successfully taken in block 4110872.
Thus, it took place at 9:00 p.m in the UTC timezone. All holders of Songbird (SGB), a core native token of Flare’s “canary network,” Songbird, and its wrapped version are eligible for the airdrop of EXFI token.
As explained earlier by the team at Flare Finance, EXFI will be a versatile utility token for various elements of its next product ecosystem.
Namely, EXFI will be used as a fee token, as a basic token for the “yield farming” ecosystem and a collateralization asset for Flare Finance’s decentralized loan module.
Songbird (SGB) price reaches 43% in no time
Gradually, the token should evolve into a governance asset: its holders will have a say in FlareGovernance referendums on crucial protocol upgrades.
The team states that EXFI tokens will be distributed between airdrop participants in the coming days.
As the lion’s share of SGB holders were interested in the EXFI drop, immediately after the snapshot some of them decided to sell their SGB bags.
In minutes, the SGB price plummeted from $0.52 to $0.3 on all major platforms when Songbird’s token is available.
