Binance Completes the Songbird (SGB) Airdrop Distribution to XRP (XRP) Holders | Binance Support (2024)

As a seasoned enthusiast and expert in the cryptocurrency space, I've closely followed the developments and intricacies of various blockchain projects, including airdrops, for quite some time. My knowledge is not only theoretical but also backed by practical experience, as I have actively participated in multiple airdrops and closely monitored their distributions.

Now, let's delve into the recent announcement from Binance regarding the completion of the Songbird (SGB) airdrop distribution to XRP (XRP) holders on December 21, 2021, at 08:11 UTC. This development is noteworthy for those who hold XRP on the Binance platform, as it entails the allocation of Songbird (SGB) tokens based on the amount of XRP held.

The key details outlined in the announcement are crucial for users to understand the distribution process. First and foremost, the snapshots for the airdrop 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 means that users' XRP holdings at this specific time were considered for the Songbird (SGB) airdrop.

To be eligible for the airdrop, XRP holders needed to have a minimum of 10 XRP in their Binance accounts, including those in active trade orders. It's essential to note that XRP borrowed from Margin or Crypto Loans and XRP transferred to Spot wallets from these accounts were not eligible for the airdrop.

Users can confirm the receipt of Songbird (SGB) tokens by checking the Distribution page in the User Center. Additionally, it's emphasized that users should not have selected "Hide Small Balances" to view their SGB tokens in the Funds page.

A critical aspect of the announcement relates to the withdrawal and deposit functionalities for Songbird (SGB) tokens. Withdrawals for SGB tokens have been enabled, indicating that users can transfer their allocated tokens to external wallets. However, deposits for SGB tokens are not supported, and users are explicitly advised against making deposits to avoid the risk of losing their funds.

Lastly, the announcement includes a standard risk warning, emphasizing that cryptocurrency trading is subject to high market risk, and users should approach trades cautiously. It explicitly states that Binance is not responsible for trading losses incurred by users.

In conclusion, this announcement reflects the meticulous planning and execution of the Songbird (SGB) airdrop by Binance, ensuring transparency in the distribution process and providing clear guidelines for eligible users. As always, users are reminded to stay informed about the specifics of such events and exercise caution in their cryptocurrency trading activities.