| Product
We’re thrilled to announce that we’ll be supporting the Songbird (SGB) token airdrop for XRP holders!
The airdrop’s snapshot of XRP balances was taken on December 12, 2020 at ~00:00 (UTC). Client accounts (both spot and margin) that held XRP at this time have now been credited with 0.1511 SGB for every 1 XRP held on the platform.
Please note that clients residing in Japan are not eligible for this airdrop.
About leveraged positions
If you held a leveraged long spot position through the snapshot, you’ll be credited a balance of SGB corresponding to this position.
If you held a leveraged short spot position through the snapshot, we’ve waived any negative SGB balances that may have arisen.
Funding and Trading
You can add SGB to your Kraken account by navigating to Funding, selecting the asset, and hitting Deposit. Trading will begin February 22.
Here’s what you need to know:
| Ticker | SGB |
| Tradeable against | USD, EUR |
| Price precision | 4 decimal places |
| Deposit confirmations required | 60 confirmations (~2 minutes) |
| Not available in | Japan |
| Services available | Kraken, the Kraken Pro interface |
Keep an eye on the status page for updates.
What is Songbird?
Songbird is the Canary network for Flare. Songbird is intended to serve as an experimental blockchain where developers can test out their projects and governance mechanisms before deploying them to Flare. The SGB token serves as the network’s base currency, and may be used in the protocol’s governance.
These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptoasset or to engage in any specific trading strategy. Kraken will not undertake efforts to increase the value of any cryptoasset that you buy. Some crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position.
