Home Crypto Events GMO Coin to Reward XRP Holders with Songbird Airdrop in Japanese Yen

GMO Coin to Reward XRP Holders with Songbird Airdrop in Japanese Yen

GMO Coin

In a groundbreaking move that underscores the dynamic nature of the cryptocurrency landscape, GMO Coin, the cryptocurrency exchange arm of Japanese IT behemoth GMO Internet, has unveiled plans to distribute Songbird (SGB) tokens to XRP holders. What sets this announcement apart is the choice to disburse the airdrop in Japanese yen, simplifying the process for eligible users and introducing a unique twist to the crypto world.

 

GMO’s Songbird (SGB) Airdrop According to the recent announcement by GMO Coin, the distribution of Songbird tokens will be based on XRP holdings as of December 12, 2020. The snapshot date serves as the reference point for determining the amount of SGB each GMO user will receive. For every 1 XRP held during the snapshot, eligible users will receive 0.1511 SGB.

What distinguishes this initiative is that GMO Coin has chosen to distribute the airdrop directly in Japanese yen, a pragmatic decision that simplifies the process for users and reduces the need for additional conversions. It is a move that underscores the exchange’s commitment to providing a user-friendly experience for its customers.

Eligibility and Distribution GMO Coin has extended eligibility for the Songbird airdrop beyond the mere possession of XRP. Customers who utilized GMO Coin’s lending product and held XRP during the snapshot will also qualify for the airdrop. Additionally, even those who sold their XRP holdings immediately after the snapshot will not miss out on this unique opportunity to receive the funds.

The distribution process is set to culminate on September 29, 2023, when eligible users will find the Japanese yen equivalent of their Songbird tokens credited to their accounts. This efficient timeline ensures that crypto enthusiasts won’t have to wait long to benefit from this innovative move.

Joining the Ranks of Supporting Exchanges GMO Coin’s decision to support the Songbird airdrop places it among an esteemed list of cryptocurrency exchanges that have already backed this initiative. Flare Network, the driving force behind Songbird, had previously compiled a list of reputable exchanges participating in the airdrop. Notable names on this list include Binance, Kraken, KuCoin, MEXC Global, Bithumb, Cryptocom, and Upbit.

This collaborative effort among exchanges underscores the unity within the crypto community, where competitors come together to offer unique opportunities and rewards to users. The Songbird airdrop, which was initially delayed, has gained momentum with the support of these exchanges.

The State of Songbird (SGB) At present, the value of Songbird (SGB) stands at $0.0046 per unit, reflecting a marginal 1% decrease over the past 24 hours. While the market can be volatile, many XRP holders and cryptocurrency enthusiasts are eagerly anticipating the Songbird airdrop, which could provide an additional layer of diversity to their crypto portfolios.

In conclusion, GMO Coin’s decision to distribute Songbird (SGB) tokens to XRP holders in Japanese yen marks a significant development in the cryptocurrency world. By simplifying the process and offering a unique twist on airdrops, GMO Coin is setting a precedent for user-friendly initiatives in the crypto space. This move, in collaboration with other exchanges, has the potential to introduce more enthusiasts to the Songbird ecosystem, while also showcasing the unity and innovation within the crypto community.

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Pankaj K

Pankaj is a skilled engineer with a passion for cryptocurrencies and blockchain technology. With over five years of experience in digital marketing, Pankaj is also an avid investor and trader in the crypto sphere. As a devoted fan of the Klever ecosystem, he strongly advocates for its innovative solutions and user-friendly wallet, while continuing to appreciate the Cardano project. Like my work? Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

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