Flare Network’s first decentralized finance platform, Flare Finance, has been successful in completing its airdrop of EXFI tokens.
The tokens were airdropped across supported exchanges and wallets to all holders of Songbird (SGB) and Wrapped Songbird (wSGB), with a total of 40 million EXFI airdropped to each and every holder.
Released on the Songbird Network, the experimental finance platform, FlareX, received a large response from the community.
Within 30 days of the launch, it achieved over $40m in total value, seeing 170,000 unique users adapt to the platform within a matter of weeks.
Offering six financial products, Flare Finance allows users of the Flare Network to generate bank and exchange without giving any control of their assets to a centralized party.
On 12 December 2021, the snapshot of EXFI tokens was completed. Out of a total token supply of 110 million, 40 million was airdropped.
Users of the token will also be able to purchase nonfungible tokens (NFTs) with EXFI, alongside the opportunity to vote on Flare governance enabling them to affect changes on the platform.
EXFI tokens can be used as a fee-replacement token on FlareX with multiple use cases on the platform.
Enabling users of the Flare Network to earn their own passive income, swap currencies, and provide liquidity to liquidity pools, FlareX enables decentralized on-demand liquidity (DODL) to all traders through a simple interface.
From January 6, 2022, EXFI trading is expected to commence across various exchanges, some exchanges have already announced their support, these include but are not limited to, CoinTiger, Bitrue, Coinone, EXMO and CEX.io.
Over the next few days, users will be able to trade EXFI using FlareX. D’Cent Wallet and Bifrost Wallet will be available to store the token.
A Halborn audit will be announced on Flare Finance over the coming weeks, with internal audits from Bits, CertiK and Trail.
Flare Finance has certainly racked up a few numbers on Twitter, boasting over 100,000 followers, it stands strong with a respected community. With support announced for Dogecoin (DOGE), Stellar (XLM), Litecoin (LTC), and XRP, the platform aims to multiply exponentially as new projects are added.
Unsure on a newly airdropped token? You can curb your enthusiasm by enjoying crypto on Bitcasino, 1xBit or FortuneJack.