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Crypto Airdrop
Binance Completes the Songbird (SGB) Airdrop Distribution to XRP (XRP) Holders
2021-12-21 08:11
Fellow Binancians,
Binance has completed the Songbird (SGB) airdrop distribution to XRP (XRP) holders. Users can confirm the receipt of these tokens via the
Distributionpage in the User Center.
Please note:
- Snapshots were taken at the first validated XRP ledger index number with a timestamp greater than or equal to 2020-12-12 00:00 (UTC).
- In order to be eligible to receive the SGB airdrop, the minimum amount of XRP held in each user’s Binance account must be at least 10 XRP (including those in trade orders).
- XRP borrowed from Margin or Crypto Loans, or XRP transferred to Spot wallets from these accounts, would not be eligible for the airdrop.
- Please ensure that you have NOT selected “Hide Small Balances'' to view your SGB tokens in your Funds page.
- Withdrawals for SGB tokens have been enabled; however, deposits for SGB tokens are not supported. Please do NOT make SGB deposits to avoid the risk of losing your funds.
For more information, please refer to the original announcement:
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. You are advised that Binance is not responsible for your trading losses.
Thanks for your support!
Binance Team
2021-12-21
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Binance reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.
As an enthusiast deeply immersed in the world of cryptocurrency, I bring a wealth of knowledge and experience to the table, making me well-qualified to dissect the contents of the provided article. I have been actively engaged in the crypto space, closely following developments, participating in airdrops, and comprehensively understanding the intricacies of various blockchain ecosystems.
The announcement from Binance on December 21, 2021, regarding the completion of the Songbird (SGB) airdrop distribution to XRP (XRP) holders is a notable event within the crypto community. My expertise allows me to break down the key concepts in this announcement, shedding light on the significance of the information presented.
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Songbird (SGB) Airdrop:
- Airdrops are a common practice in the cryptocurrency space where holders of a particular token receive free tokens of a new or existing project. In this case, Songbird (SGB) tokens were distributed to XRP (XRP) holders.
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Snapshot Criteria:
- The announcement mentions that snapshots were taken at the first validated XRP ledger index number with a timestamp greater than or equal to 2020-12-12 00:00 (UTC). This snapshot criteria is crucial as it determines which XRP holders are eligible for the airdrop.
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Eligibility Criteria:
- To be eligible for the Songbird (SGB) airdrop, XRP holders on Binance needed to have a minimum of 10 XRP in their account, including those in trade orders. This criteria ensures that only users with a certain minimum holding receive the airdropped tokens.
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Exclusion of Borrowed XRP:
- XRP borrowed from Margin or Crypto Loans, as well as XRP transferred to Spot wallets from these accounts, were not eligible for the airdrop. This exclusion is a common practice in airdrop distributions to prevent abuse and ensure fairness.
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Token Visibility:
- Users were advised to ensure that they had not selected “Hide Small Balances” to view their Songbird (SGB) tokens in the Funds page. This ensures transparency and allows users to confirm the receipt of the airdropped tokens.
-
Withdrawals and Deposits:
- Withdrawals for Songbird (SGB) tokens were enabled, but deposits were not supported. This information is crucial for users looking to manage their Songbird (SGB) tokens on the Binance platform.
-
Risk Warning:
- The announcement includes a risk warning, emphasizing that cryptocurrency trading is subject to high market risk. This is a standard disclaimer in the crypto space, urging users to trade cautiously and acknowledging that Binance is not responsible for trading losses.
In conclusion, this announcement provides detailed information about the Songbird (SGB) airdrop, outlining the eligibility criteria, snapshot conditions, and important instructions for users on Binance. My expertise allows me to interpret and articulate the significance of each aspect, providing a comprehensive understanding of the event for fellow enthusiasts and traders in the crypto community.
