EXFI airdrop

[xrp-nuke]

IMHO a most terrible decision.

Basically organised pump & dump for SGB, which already pumps 15%

[Guest]

5 hours ago, xrp-nuke said:

IMHO a most terrible decision.

Basically organised pump & dump for SGB, which already pumps 15%

Thoughts on the alternative ? Burning those ExFi will have the same effect too, correct ?

[xrp-nuke]

2 hours ago, Ripley said:

Thoughts on the alternative ? Burning those ExFi will have the same effect too, correct ?

Its a mess that Flare started. Just do it the same way.

Afterall we speak about useless test tokens right?

 

[Guest]

13 minutes ago, xrp-nuke said:

Its a mess that Flare started. Just do it the same way.

Afterall we speak about useless test tokens right?

 

Sorry I don’t understand. What is “the same way” ? ExFi didn’t have monthly airdrops. So they cannot just airdrop 15% and leave it. 

They waited for more exchanges to support SGB and some did - like Uphold, Kraken, Binance, etc. don’t know how many will be ready by 12/12 but a lot more SGB holders are able to transfer to wallets and get ExFi.  What else can they do ?

Again, you said it’s a terrible decision so wanted your thoughts on other options so we can provide that to the team directly. Not trying to have an argument. Flare Finance doesn’t control what happens to Flare or Songbird, so their option is to respond whichever way they can. I’m sure they are open to suggestions.

[xrp-nuke]

7 minutes ago, Ripley said:

I’m sure they are open to suggestions.

I have not seen a tweet: Guys we do airdrop any ideas? 

9 minutes ago, Ripley said:

Sorry I don’t understand. What is “the same way” ? ExFi didn’t have monthly airdrops. So they cannot just airdrop 15% and leave it. 

15% or 100% it does not matter, snapshot and supported addresses are known.

10 minutes ago, Ripley said:

They waited for more exchanges to support SGB and some did - like Uphold, Kraken, Binance, etc. don’t know how many will be ready by 12/12 but a lot more SGB holders are able to transfer to wallets and get ExFi.  What else can they do ?

Problem is, that most exchanges supported FLR, SGB supports just far less and only recently some started wake up. Why on the earth take that tiny list of exchanges from SGB? Why not from FLR?

[Guest]

15 minutes ago, xrp-nuke said:

I have not seen a tweet: Guys we do airdrop any ideas? 

15% or 100% it does not matter, snapshot and supported addresses are known.

Problem is, that most exchanges supported FLR, SGB supports just far less and only recently some started wake up. Why on the earth take that tiny list of exchanges from SGB? Why not from FLR?

They’re very active on Discord.

Problem is that tokens have to be distributed on the network. There is no Flare network so these exchanges don’t have Flare wallets.  Only Songbird network exists and only exchanges that operate Songbird wallets will be able to distribute them. 

So let’s say they distribute remaining ExFi on Flare network instead, so it can be wrapped back to Songbird later. But exchanges are not willing to run Flare infrastructure until the network is ready. It’s not worth moving their Dev resources today. That means ExFi airdrop cannot happen until Flare launches, which delays everything for Flare Finance.

Edited December 3, 2021 by Ripley

[xrp-nuke]

30 minutes ago, Ripley said:

They’re very active on Discord.

Problem is that tokens have to be distributed on the network. There is no Flare network so these exchanges don’t have Flare wallets.  Only Songbird network exists and only exchanges that operate Songbird wallets will be able to distribute them. 

So let’s say they distribute remaining ExFi on Flare network instead, so it can be wrapped back to Songbird later. But exchanges are not willing to run Flare infrastructure until the network is ready. It’s not worth moving their Dev resources today. That means ExFi airdrop cannot happen until Flare launches, which delays everything for Flare Finance.

Still do not understand, XRPL snapshot is source of truth for both FLR and SGB, SGB is here, why not make if off SGB?

[brianwalden]

1 hour ago, xrp-nuke said:

Its a mess that Flare started. Just do it the same way.

Afterall we speak about useless test tokens right?

 

Just to clarify for anyone reading, Flare Finance is not Flare, they're two separate entities.

Neither SGB nor EXFI are useless test tokens. Test network tokens have an unlimited supply, anyone can go to a faucet and get gobs of them for free. Canary networks are live networks used for testing the types of things that you need real world use to test. One can certainly argue that SGB is overvalued, but it's not worthless.

[brianwalden]

4 minutes ago, xrp-nuke said:

Still do not understand, XRPL snapshot is source of truth for both FLR and SGB, SGB is here, why not make if off SGB?

The EXFI airdrop is based on SGB, not XRP.

[xrp-nuke]

8 minutes ago, brianwalden said:

The EXFI airdrop is based on SGB, not XRP.

Now it based on SGB with tweaks from Flare Finance.

13 minutes ago, brianwalden said:

Canary networks are live networks used for testing the types of things that you need real world use to test. One can certainly argue that SGB is overvalued, but it's not worthless

The key word here is testing. Why on earth it all made such way that I have to pay for token to perform a test? And that is only because the exchange was not fast enough to support airdrop that is based on other airdrop, that is based on other airdrop.

 

 

[xrp-nuke]

19 minutes ago, brianwalden said:

Just to clarify for anyone reading, Flare Finance is not Flare, they're two separate entities.

Flare started mess with SGB, Flare Finance continues with its own modifications.

Its not about who is who, its about mess.

[brianwalden]

12 minutes ago, xrp-nuke said:

Now it based on SGB with tweaks from Flare Finance.

The key word here is testing. Why on earth it all made such way that I have to pay for token to perform a test? And that is only because the exchange was not fast enough to support airdrop that is based on other airdrop, that is based on other airdrop.

 

 

The Coston test network is for testing code. All the tokens on there are worthless test tokens. You can test all the code you want on there.

Songbird is for testing the types of things that you can't test just by making sure the code passes all your unit tests and other validations - the types of things that require real world use with humans using it in crazy ways you never thought of before. These networks need to have tokens with real value or else people won't use it like they would in live conditions.

The whole concept of a canary network is a novel one invented by Polkadot with Kusama. If you're skeptical of it, fine, I've got no problem with that. Maybe once Flare launches everything on Songbird will become nearly worthless.

I don't get your point. If you think these are just worthless test network coins then why do you care about not receiving them because your exchange isn't going along with it? If you think Songbird is just a test network what's it matter to you if they make a mess on it? I don't give any thought to what Ripple or Ethereum do on their test networks.

[Guest]

48 minutes ago, xrp-nuke said:

Still do not understand, XRPL snapshot is source of truth for both FLR and SGB, SGB is here, why not make if off SGB?

Those addresses that claimed FLR include exchanges which have either made no promises or explicitly said they won’t support SGB. Also you can know the address from the claim but you cannot airdrop on those addresses unless the network is live, so problems that I mentioned above still exist. Knowing claim addresses doesn’t solve anything.

[Guest]

27 minutes ago, xrp-nuke said:

Now it based on SGB with tweaks from Flare Finance.

The key word here is testing. Why on earth it all made such way that I have to pay for token to perform a test? And that is only because the exchange was not fast enough to support airdrop that is based on other airdrop, that is based on other airdrop.

 

 

For flare, testing is about network fragility in real world conditions. For flare Finance, it’s about testing tokenomics. I don’t think world would have patience for a network with issues like the ones that Ethereum, XRPL, Solana etc encountered. Solana was particularly bad. There is no easy way to test for real world conditions. Only way is to have production like environments and test in the real world.

I agree with you that Flare could have mentioned Songbird ahead of time, but it was a learning experience for them too.

[xrp-nuke]

5 minutes ago, brianwalden said:

 

I don't get your point. If you think these are just worthless test network coins then why do you care about not receiving them because your exchange isn't going along with it? If you think Songbird is just a test network what's it matter to you if they make a mess on it? I don't give any thought to what Ripple or Ethereum do on their test networks.

As in my initial post, I see that EXFI is possibly used to pump SGB, we know that not much yet support from exchanges for SGB but it does not mean that next year same date it will be same. In meantime Flare Finance says "Hey you will get much much more tokens". So it more creates a pump situation rather than a fair distribution.

Will Flare Finance benefit from SGB pump? I do not have prove, but considering their involvment, I would not be surprised that they hold enough amount, that they could stake and now could realize drops from stake not for 0.3c but for 0.6 or whatever we will have along these days.

So, when we have a group that organises an XRP pump most twitter army heroes become empathic and here for yoy to support.

I guess this sort of mechanics when possible pump and dump comes through set of airdrops with different rules is yet not clear for everyone.

So far I see that every airdrop derived from FLR reduces audience and creates FOMO. SGB basically was reduced to number of wallets (almost no exchanges). EFXI now goes further and reduce to exchanges that now support SGB. Word support yet to be defined.