Bitrue, a leading cryptocurrency exchange Bitrue, announced that they will be facilitating EXFI token distribution to users who hold Songbird SGB, Invezz learned from a press release. EXFI Token will be used to decide on protocol rulings, NFT auctions, yield farming, and more. It is the native token used on the ExFi platform.
Adam O’Neill, Chief Marketing Officer of Bitrue, commented during the announcement:
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After being the first exchange in the world to support Songbird distribution and trading, we are keen to continue finding ways to add value for our community and meet their expectations. We are very happy to show support for EXFI and Flare Finance, and our community has also been very vocal about supporting their new and innovative services.
Flare Finance is developing a highly diversified set of DeFi services using the Songbird and Spark tokens. These were created by Flare Networks. CryptoFrenchie, CEO of Flare Finance, said:
We’re exceedingly pleased to have Bitrue on our side in support of Flare Finance and the EXFI token. For many years they have been the premier exchange supporting the Ripple (XRP/USD) ledger and a wide range of new projects like Songbird SGB. The enthusiastic support from their community will really help ensure that the launch of our first token will be an overwhelming success.
The snapshot will be taken on November 5th at 17:00 UTC. The amount of SGB each individual user holds will be proportional to the amount of EXFI that they receive. Bigger holders will receive higher rewards. Flare Finance’s DFLR token will be distributed based on user’s Spark holdings and launch at a later date. Bitrue will support that token as well.
Launched in July 2018, Bitrue is a diversified cryptocurrency exchange with support for trading, loans, and investments. Bitrue aims to utilize blockchain technology to bring financial opportunities to everybody regardless of their location or financial position. They have offices worldwide and continue to develop new features at a rapid speed to fully service the new wave of the digital economy.
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