Kraken Supports the Songbird (SGB) Airdrop for XRP Holders (2024)

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Kraken Supports the Songbird (SGB) Airdrop for XRP Holders (1)

Kraken Supports the Songbird (SGB) Airdrop for XRP Holders (2)

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:

TickerSGB
Tradeable againstUSD, EUR
Price precision4 decimal places
Deposit confirmations required60 confirmations (~2 minutes)
Not available inJapan
Services availableKraken, 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.

Kraken Supports the Songbird (SGB) Airdrop for XRP Holders (2024)

FAQs

Is Songbird token available for XRP holders? ›

The Songbird network has its own token, Songbird (SGB), which was airdropped to anyone eligible for the Flare airdrop. For every 1 XRP held at the time of the snapshot, 0.1511 SGB was allocated.

Is Songbird on Kraken? ›

You can buy Songbird on Kraken's crypto exchange. Create your free account and connect a funding method to buy over 200 cryptocurrencies including SGB. Kraken makes it quick and easy to get started.

Do you get airdrops on Kraken? ›

Non-centralized exchange users may miss out on future airdrops so Kraken has chosen to facilitate an automatic airdrop distribution so you don't have to claim it manually on-chain.

How to claim songbird airdrop? ›

Navigate to your wallet and look for the Songbird SGB claim banner above your balances.
  1. Click “Claim SGB”.
  2. The SGB trust line will be set automatically on your wallet, for which 2 XRP reserve is required.
  3. Agree to the terms of the claim procedure.
  4. Click “Claim SGB”.
Dec 27, 2022

Will Songbird token be worth anything? ›

Based on the historical price movements of Songbird and the BTC halving cycles, the yearly low Songbird price prediction for 2025 is estimated at $ 0.010527. Meanwhile, the price of Songbird is predicted to reach as high as $ 0.049661 next year.

What wallet supports songbird? ›

Access Songbird Claim | Bifrost Wallet Support.

Will Coinbase get Songbird? ›

Songbird is not supported by Coinbase.

Is ripple available on Kraken? ›

You can buy Ripple (XRP) on several exchanges, such as Bitstamp, Kraken, Huobi Global, and Coinbase. Review all of your crypto exchange or app options to learn which app allows you to purchase Ripple.

Is Songbird on the xrp ledger? ›

The Songbird network does not use r-addresses like the XRP Ledger does. The Songbird network uses Ethereum style addresses which are not compatible with the XRPL. While Bifrost may support various different blockchains, the Songbird network is not compatible with the XRP Ledger.

Will Kraken support XRP airdrop? ›

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).

Which wallet to use with Kraken? ›

Use your Apple Pay or Google Pay wallet to purchase a range of cryptocurrencies instantly via the Kraken app.

Who gets songbird airdrop? ›

The deal is sweetest for XRP holders. Anyone who held XRP on Dec. 12, 2020, will be airdropped SGB, the coin of this new blockchain, Songbird.

How do I claim my Songbird rewards? ›

Rewards can be claimed twice per week and can be claimed either manually or automatically. If you want to automate claiming you need to add a so called claim executor to your wallet address, allowing the executor to trigger the claim process from the on-chain reward manager directly to your own wallet.

Is songbird on the XRP Ledger? ›

The Songbird network does not use r-addresses like the XRP Ledger does. The Songbird network uses Ethereum style addresses which are not compatible with the XRPL. While Bifrost may support various different blockchains, the Songbird network is not compatible with the XRP Ledger.

What is songbird XRP? ›

Songbird enables first-generation blockchains to utilize smart contracts. Projects like Bitcoin entered the market before smart contract technology existed. Songbird enables popular projects like Ripple (XRP), Dogecoin (DOGE), and Bitcoin (BTC) to provide developers the opportunity to build on their blockchains.

What is the ratio of XRP to Songbird? ›

The current conversion is 1 XRP to 42.52 SGB. The value of 1 XRP is +6.49% against the value of SGB in the last 24 hours.

Does songbird token have a future? ›

SGB's price prediction is possible by analyzing historical price action, current developments and social sentiment from the community. Songbird price prediction 2024: Songbird's price for 2024 according to our analysis should range between $0.017 to $0.026 and the average price of SGB should be around $0.021.

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