An under-the-radar altcoin is surging in price this week as its associated network nears a long-delayed token giveaway.<\/p>\n
Songbird (SGB<\/a>), the \u201ccanary network\u201d of Flare Network, is up more than 88% this week.<\/p>\n The 153rd-ranked crypto asset by market cap is trading at $0.0189 at time of writing.<\/p>\n Explains<\/a> Flare,<\/p>\n \u201cA canary network is an operational blockchain with a defined token supply that allows new features to be tested under production conditions, before they are deployed on the main network. This is in contrast to a testnet, which generally has an unlimited token supply.\u201d<\/em><\/p>\n SGB\u2019s huge gains come as Flare nears its long-awaited FLR token distribution on January 9th.<\/p>\n ? 5 days until TDE.<\/p>\n FLR token distribution will begin January 9th at 23:59 UTC. Join us here to celebrate.#Flare<\/a> #ConnectEverything<\/a> pic.twitter.com\/y2LGOuJZt0<\/a><\/p>\n \u2014 Flare ?? (@FlareNetworks) January 4, 2023<\/a><\/p>\n<\/blockquote>\n FLR will be distributed to XRP holders based on a snapshot of the network taken in late 2020.<\/p>\n Flare Network, with its native FLR token, aims to essentially bring smart contract capabilities to various blockchain networks, starting with\u00a0XRP\u00a0<\/a>and then\u00a0Litecoin\u00a0(LTC<\/a>).<\/p>\n The company previously\u00a0said<\/a>\u00a0that each eligible holder will immediately receive 15% of their claimable Spark tokens, and then claim an average of 3% per month, carrying on for a minimum of 25 months and a maximum of 34 months.<\/p>\n Top US crypto exchange Coinbase announced<\/a> last month that it would support the FLR airdrop. At least 55 other exchanges, including Binance, have also confirmed<\/a> their intention to distribute FLR to their customers within 2 weeks of the airdrop.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get crypto email alerts delivered directly to your inbox <\/span><\/em>\n
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