When is the snapshot?
Flare Finance is pleased to announce that a snapshot of all balances holding $SGB and $WSGB will be taking place globally at the following times:
December 12th, 2021 at 10AM PST (West Coast USA)
December 12th, 2021 at 1PM EST (East Coast USA)
December 12th, 2021 at 7PM CET (Europe)
December 12th, 2021 at 10PM GST (UAE)
December 13th, 2021 at 2AM CST (China)
December 13th, 2021 at 4:30AM ACDT (Australia)
At this time, the balances of all holders of $SGB and $WSGB will be snapshotted in order to receive the ExFi Token $EXFI (originally named $SFLR), the secondary governance token and primary fee replacement token used on the ExFi Platform.
What is the distribution ratio?
The distribution ratio will be announced closer to the distribution date to allow exchanges time to support the $EXFI Airdrop, the previous ratio of ~235 SGB per EXFI is close, but not exact. Exchanges that do not support before the distribution date will be removed from the distribution — effectively giving each $SGB/$WSGB holder more $EXFI.
Where is the logo for $EXFI?
What are the allocations of $EXFI?
$EXFI will have the following allocations and will be distributed directly to holders of $SGB and $WSGB:
Total Supply: 110,000,000 $EXFI
- Airdrop — 40,000,000 $EXFI
- Yield Cloud — 40,000,000 $EXFI
- Foundation Reserves — 20,000,000 $EXFI
- Team Allocation — 10,000,000 $EXFI
How can I use $EXFI?
$EXFI will be used in various ways across the ExFi Platform including:
- Being used as a fee replacement token on FlareX.
- Being used to farm for yield in the form of $SFIN on FlareFarm.
- Being used to create $CAND on FlareLoans, which can optionally be used to farm more $SFIN.
Additionally, when the remaining 4 products are released, $EXFI will be used to:
- Purchase NFT’s and participate in auctions on FlareDrop.
- Provide to coverage pools and purchase coverage on FlareMutual.
- Vote on FlareGovernance and enact change across ExFi.
What happens after the Snapshot?
ExFi “Gamma” Timeline
December 12th/13th, 2021 — Snapshot of all balances of $SGB and $WSGB will be taken, regardless of being held in a wallet, contract, or exchange. (The contract or exchange receiving the $EXFI will need to support the distribution for you to receive your airdrop. We can not reimburse any tokens that are airdropped to unsupported contracts or exchanges.)
January 1st, 2022 — $EXFI will arrive in all wallet addresses that held $SGB and $WSGB.
January 1st, 2022 — ExFi “Gamma” will begin with FlareFarms v2 and FlareLoans v2 launching to reflect new rewards in the form of $SFIN. It will support $EXFI yield farming and minting $CAND with $EXFI.
January 10th, 2022 — Halborn Audit will be released signaling a secure launch for Flare Network Mainnet Launch. Additionally, internal audits from TrailOfBits and CertiK will be released to reflect change from initial point of development to present day status.
January 15th, 2022 — ExFi will operate on Songbird Network redubbed to “Songbird Finance” as the main point for deploying experimental finance modules in hopes of these new modules being pulled from Songbird Finance into Flare Finance.