Japanese Crypto Exchange to Offer Songbird (SGB) to XRP Holders in Yen

  • Japanese crypto exchange GMO offers airdrops for XRP holders in 2020.
  • Eligible customers will receive the Japanese yen equivalent of Songbird (SGB).
  • Every holder of XRP at the time of the snapshot is eligible to claim the airdrop, even if they sold the coin afterward.

Japanese crypto exchange GMO announced that they will offer Songbird (SGB) to XRP holders in Japanese yen. The exchange shared on its website that a snapshot was acquired at 9:00 on Saturday, December 12, 2020, that shows XRP holders and the holding quantity. Based on the snapshot, they would issue the airdrop.

Customers who are eligible for the SBG airdrop are those who held “physical Ripple (XRP) in our company account as of 9:00 on Saturday, December 12, 2020.” Moreover, they shared that customers who were using crypto asset lending services were also eligible.

SGB is the native token of the Songbird network, a Canary blockchain for the Flare network, which is a Layer-1 network that’s fully compatible with the Ethereum Virtual Machine (EVM).

The announcement clarified that even if customers sold or sent their XRP after the snapshot was acquired, they would still be eligible for the SGB airdrop. The funds are scheduled to be delivered to the eligible customers by September 29, 2023.

Customers will receive an equivalent of 0.151 SGB for every 1 XRP they held at that time, but the amount of Japanese yen that the customers are going to receive hasn’t yet been announced. The company said, “A ratio of 1: 0.151095 converted into Japanese yen using our arbitrary method and time. The standard price will be announced at a later date.”

At press time, according to CoinMarketCap, SGB was traded for $0.004507, after witnessing a fall of 0.69% in the past 24 hours. Meanwhile, SGB’s market cap is valued at $44,949,283, and its volume in the past 24 hours decreased by 6.43%, reaching $205,179.

Meanwhile, XRP’s price was priced at $0.5099 at press time, after a surge of 0.85% from the previous day. Ripple’s XRP market cap increased by 0.96%, reaching $27,144,020,976, while its volume in the last twenty-four hours decreased by 30.37%, reaching $734,896,199.

Source: https://coinedition.com/japanese-crypto-exchange-to-offer-songbird-sgb-to-xrp-holders-in-yen/