Digital Assets: Kraken Supports the Songbird (SGB) Airdrop for XRP Holders

Digital asset firm Kraken is pleased to confirm that they will be supporting the Songbird (SGB) token airdrop for XRP holders.

The airdrop’s snapshot of XRP balances was reportedly “taken on December 12, 2020, at ~00:00 (UTC).” Customer accounts  (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.”

Kraken points out that customers based in Japan aren’t eligible for this airdrop.

Regarding leveraged positions, if you held a leveraged long spot position via the snapshot, then you shall be “credited a balance of SGB corresponding to this position.”

And if you “held a leveraged short spot position through the snapshot, [they have] waived any negative SGB balances that may have arisen.”

As noted by Kraken, when funding is enabled, you may add SGB to your Kraken account by “navigating to Funding, selecting the asset, and hitting Deposit.” The Kraken team will provide more updates after funding and trading have commenced.

Here’s what clients should 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.

While explaining what exactly Songbird is, Kraken’s update noted:

“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.”

As covered recently, Kraken is pleased to confirm that their platform now supports TerraUSD (UST).

Clients may now add UST to their Kraken accounts by navigating to Funding, choosing the asset, and hitting Deposit. Trading is scheduled to begin on February 17, 2022.

Here’s what you need to know about this new token listing:

• Ticker UST
• Tradeable against USD, USDC, USDT, EUR
• Price precision 6 decimal places
• Deposit confirmations required 1 (near-instant)
• Not available in Japan
• Services available Kraken, the Kraken Pro interface
• Kraken also reminded users to keep an eye on the status page for more updates.

What is TerraUSD ?

As explained by the Kraken team, Terra is a blockchain protocol that “powers global payments with community-controlled stablecoins.” UST is the protocol’s USD stablecoin, “offering users a rapid and censorship-resistant means to perform settlements.”