Flare's Songbird Sees Its SGB Token 40% Up in 24 Hours
Songbird, the "sister chain" of Flare's (FLR) EVM-compatible blockchain, has succesfully distributed its core native asset, SGB. Here's how its trading began.
SGB among top gainers
In the first few hours after being listed on XRP-centric exchange Bitrue (BTR), Songbird's SGB token printed impressive gains. Today, on Sept. 30, 2021, it reached an all-time high over $0.71.
I know crypto is crazy, but @FlareNetworks' Songbird $SGB is acting more like a 🔥🐦 pic.twitter.com/67CExnargF— Jehan Chu (@collectionist) September 30, 2021
It started trading from a 2.6x rally: its "listing price" on Bitrue (BTR) was as low as $0.27.
By press time, the SGB price has slightly corrected as Songbird's core asset is changing hands at $0.56. Right now, the token is avaliable on the Bitrue (BTR) exchange in pairs with XRP and U.S. Dollar Tether (USDT).
As covered by U.Today previously, Bitrue (BTR) becomes the first exchange to allow SGB trading. SGB tokens were distributed on Sept. 16, 2021, by the Flare Networks team.
Flare's (FLR) mainnet release is in the cards
Songbird (SGB) is promoted as a "canary network" for Flare, the much-anticipated Turing-complete blockchain with smart contracts support.
At its core, Songbird (SGB) is desgned to stress test all major economic concepts expected in Flare (FLR). Unlike testnets, it does not utilize "sandbox" tokens; SGB are distributed between FLR enthusiasts in the airdrop.
The release of Songbird (SGB) is another step to the inception of mainnet's Flare (FLR) operations. Yesterday, it exited observation mode and started fully decentralized operations.Source