Songbird ranks #129 of 504 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #965: 836 of the 964 assets ahead of it are not native coins but tokens or claims. A token is issued on a host blockchain rather than running its own; a claim stands for an asset already counted. Of the 985 non-native assets CoinSpectrum lists above it by market cap, about 66% are tokens, 25% are claims on other assets and 9% are memecoins.
| CoinSpectrum Grade | C · 62/100 · provisional |
|---|---|
| Rank among cryptocurrencies | #129 |
| Rank counting claims | #965 |
| Market capitalisation | $17M |
| Price | $0.000889 |
| Circulating supply | 18,704,087,847 SGB |
| Maximum supply | no fixed cap |
| Consensus family | Proof of Stake |
| Consensus mechanism | Snowman++ (stake-weighted, 1M SGB self-bond, Flare canary net) |
| Ledger type | Multi-asset ledger |
Market figures from the 28 October 2026 build. Open the live view for every exchange's price, and charts.
C — 62 out of 100, provisional (from 18 of 20 criteria, 28 October 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 56 to 67 (C to B).
| Criterion | Score | Basis |
|---|---|---|
| Leading Consensus Mechanisms (Source) | 9.1 | group average |
| Consensus: leader ladder | 9.1 | Proof of stake: 9.1 of 10 on the ladder of consensus families ranked by their largest chain's market cap |
| Consensus: family ladder | 9.1 | Proof of stake: 9.1 of 10 on the ladder of families ranked by the combined market cap of their chains |
| Cryptocurrency Standards (Source) | 5.4 | group average, 10 of 12 measured |
| Sound Money Properties (6 checks) (Source) | 7.2 | 4.3 of 6 points source |
| Scarcity (Limited supply · 1 Store of value · Whitepaper §6) | 3.1 | no fixed maximum; 18.7 billion in circulation: supply scale 6.1, cap 0 |
| Durability (Sustainability · 1 Store of value) | ✓ | 5 full years since its first recorded price, no halt, freeze or reversal in five years |
| Fungibility (Interchangeability · 3 Unit of account) | ✓ | every unit identical and worth any other |
| Portability (Scalability · 2 Medium of exchange) | ✓ | typical fee $0.000012; about 1,278 transactions a second, 8.9 on the throughput scale (5 is the busiest networks' median demand) |
| Divisibility (Flexibility · 3 Unit of account) | ✓ | 18 decimal places, the smallest unit worth $8.9e-22 |
| Verifiability (Authenticity check · 1 Store of value · Whitepaper §8) | ✗ | node software open source; no light clients or pruned nodes |
| Scalability (fees, throughput, block time, block space, features) | 6.7 | average of 5 parts source |
| Fees ($0.001 or less 10, $1 or more 0) | 10 | typical fee $0.000012 |
| Throughput (2,478 a second, the busiest network's peak day, 10; 119, the median of the ten busiest, 5) | 8.9 | about 1,278 simple transactions a second |
| Block time (10 minutes 10, less either side) | 1.1 | a block every 2 seconds |
| Block space per 10 minutes (32 MB or more 10) | 10 | 1.75 MB limit (converted from its gas, compute, mass or count limit), 525 MB per 10 minutes |
| Features (3 checks) | 3.3 | 1 of 3 passed |
| Fast payments (Safe to accept within seconds · Whitepaper §11) | ✓ | Avalanche Snowman consensus gives deterministic finality in about 1-2 seconds. |
| Pruned nodes (Old history dropped, every rule checked · Whitepaper §7) | ✗ | The coreth-based go-flare C-chain prunes state only; it has no option that deletes old blocks. |
| Light clients (Payments verified from headers · Whitepaper §8) | ✗ | No light-client protocol for the chain; users rely on RPC. |
| Security (miner pay and 7 checks) | 5 | 5 of 9 points source |
| Miner pay (A day, $1,000 0 to $10 million 10; 2 points) | 0 | not mined |
| Own hashrate (Half its algorithm's largest, not merge-mined) | ✗ | not mined |
| Largest pool (Pool or validator under 50%) | ✓ | 6.1% |
| Largest three (Under 75% together) | ✓ | 18.4% |
| Clients (More than one maintained) | ✗ | 1 |
| Open source (Node software) | ✓ | Flare Labs and the Flare Foundation develop go-flare, the only client, and govern Songbird through STP proposals. |
| Real use (1,000+ transactions a day) | ✓ | about 38,950 a day |
| No 51% attack (Nor a deep reorganisation, five years) | ✓ | |
| Decentralisation | 5.5 | section average, 6 of 8 measured |
| Censorship resistant (Source) | 10 | No authority can halt the chain or freeze funds: No protocol-level freeze of user SGB is documented. source |
| No central team (Source) | 0 | A central team directs it: Flare Labs and the Flare Foundation develop go-flare, the only client, and govern Songbird through STP proposals. source |
| Who can mint (Source) | 8.6 | Proof of stake: 8.6 of 10 on the ladder of who produces blocks |
| Nodes (Source) | — | Not yet counted |
| Holder concentration (Source) | — | Not yet measured |
| Premine (allocated at launch) | 2.3 | 76.6% of today's supply allocated at launch to founders, a company, a foundation or investors. All 15B SGB at genesis were allocated by the project: about 0.1511 SGB per XRP to the XRP holders of the Dec 2020 Flare snapshot, plus the same-ratio share to the other FLR allocation holders (Flare entities, team and backers). There was no open minting at launch. 15,000M / 19,575.5M current total supply (CoinGecko, 2026-10-23) = 76.6%. source |
| Fundraising | 2.3 | Sold by its issuer or insiders: 76.6% of supply was theirs to sell, 2.4% sold so far. SGB was never sold directly. It was distributed at genesis at the same ratio as FLR allocations, so the FLR backers' 3.1% (bought in Flare's private rounds) carried ~465M SGB. 465M / 19,575.5M total supply (CoinGecko, 2026-10-23) = 2.4%. Flare Networks raised venture funding (Xpring investment Nov 2019; $11.3M from VCs and individuals June 2021, per Kraken). Whether SGB itself was sold in those rounds is not disclosed. source |
| Developer share (after launch) | 10 | No developer share: every new coin goes to the miners or validators who produce blocks. No cut. Songbird inflation is minted to the reward managers for FTSO data providers and delegators (FtsoRewardOffersManager 35%, FastUpdateIncentiveManager 15%, FdcHub 50% per the on-chain InflationAllocation contract), i.e. to the network's providers and validators, not to the Flare Foundation or a treasury. source |
| Privacy | 2 | section average |
| Privacy (5 checks) | 2 | 1 of 5 passed source |
| Protocol level privacy (Keys not tied to an identity · Whitepaper §10) | ✓ | Any secp256k1 key can hold and send SGB; the chain's account and transfer rules carry no identity check. |
| UTXO ledger (A new key for each payment · Whitepaper §2, §9) | ✗ | |
| Network privacy (Origin hidden by default) | ✗ | go-flare (AvalancheGo/coreth) gossip with no Dandelion or built-in Tor. |
| Hidden amounts (Amounts confidential) | ✗ | Public EVM ledger. |
| Hidden parties (Sender and receiver hidden) | ✗ | Accounts are public. |
| Programmability (tokens, contracts, 5 checks) | 7.8 | 7 of 9 points source |
| Token issuance (At protocol level) | 2 | ERC-20 contracts on its EVM, open to any account. |
| Smart contracts (General-purpose) | 2 | EVM chain (Flare's canary network) open to any account. |
| Multisig and time locks (Without a third party) | ✓ | Multisig and time-lock contracts on its EVM. |
| Atomic swaps (With other chains) | ✓ | Solidity HTLCs can be deployed on its EVM. |
| Native exchange (Built into the protocol) | ✗ | No exchange in the protocol. |
| Cross-chain messaging (Verified by the chain itself) | ✗ | The Flare Data Connector is attested by voting data providers and verifier servers, not by the chain's own nodes verifying other chains. |
| NFTs (Carried by the chain's rules) | ✓ | ERC-721 contracts run by its EVM. |
| Supply & Demand | 5.2 | group average |
| Supply & Demand (Source) | 4.3 | average of 6 measures |
| Exchanges (10 or more: 10) | 3 | 3 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 1.8 | $70,626 traded in 24 hours; #1710 by volume on the exchanges the site reads (scored on the median day of the last 30, $75,623) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 4.4 | 0.43% of its market cap a day, median of the last 30 days |
| Order-book depth (bids and asks within 2% ÷ market cap, 1%: 10) | 3.7 | $2,215 within 2% of the price on 2 exchanges, 0.01% of its market cap, median of the last 2 days |
| Market cap ($1M 0, $10B or more 10) | 3.1 | $17M, 3.1 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 10 | no futures, options or margin on the exchanges read |
| Supply (smaller is better) | 6.1 | no fixed maximum; 18.7 billion in circulation |
| Record | 7 | group average |
| Record (origin, claims, halts) | 10 | 3 positive, 0 negative source |
| Positive record | ||
| Launched with a stated purpose, not as a joke | ✓ | |
| No claims by its founders that contradict its own design | ✓ | |
| No halt, freeze or reversal in five years | ✓ | |
| Age (years since genesis) (Source) | 5 | 5 full years since 2021-09-28, the first day with a recorded price (genesis not yet researched, so the age can only be understated). |
| Development (work, improvements, unfixed issues) | 6 | 1 positive, 0 negative, 2 not yet researched source |
| Positive | ||
| Steady work, 6 of 6 | ✓ | 103 commits in 12 of the last 12 months (github.com/flare-foundation/go-flare); go-flare v1.14.2, 23 Oct 2026; 10 stable releases in the last 24 months. |
| Not yet researched | ||
| Shipped a security fix in two years | – | |
| Shipped a new capability for users in two years | – | |
Twenty criteria, weighted equally. The Cryptocurrency Standards have five sections: sound money (six qualities: scarcity, durability, fungibility, portability, divisibility, verifiability), scalability (four measures and three features), security (miner pay and seven checks), decentralisation (censorship resistance, no central team, who can mint, nodes, holders, premine, fundraising and developer share) and privacy (five checks); programmability (token issuance, smart contracts and five checks) follows them. Provisional: criteria marked — are not yet measured and are left out of the average. A rating of structure and market depth, not a price forecast or investment advice. How the grade is built · Highest-graded cryptocurrencies.
18,704,087,847 SGB are in circulation, against no fixed cap — issuance has no defined end.
| Premine (allocated at launch) | 76.6% of today's supply |
|---|---|
| Sold by the issuer or insiders | 2.4% of today's supply |
| Developer share received since launch | 0% of today's supply |
| Developer share of new coins today | 0% |
| Fundraising | Private or venture funding |
All 15B SGB at genesis were allocated by the project: about 0.1511 SGB per XRP to the XRP holders of the Dec 2020 Flare snapshot, plus the same-ratio share to the other FLR allocation holders (Flare entities, team and backers). There was no open minting at launch. 15,000M / 19,575.5M current total supply (CoinGecko, 2026-10-23) = 76.6%.
Flare Networks raised venture funding (Xpring investment Nov 2019; $11.3M from VCs and individuals June 2021, per Kraken). Whether SGB itself was sold in those rounds is not disclosed.
SGB was never sold directly. It was distributed at genesis at the same ratio as FLR allocations, so the FLR backers' 3.1% (bought in Flare's private rounds) carried ~465M SGB. 465M / 19,575.5M total supply (CoinGecko, 2026-10-23) = 2.4%.
No cut. Songbird inflation is minted to the reward managers for FTSO data providers and delegators (FtsoRewardOffersManager 35%, FastUpdateIncentiveManager 15%, FdcHub 50% per the on-chain InflationAllocation contract), i.e. to the network's providers and validators, not to the Flare Foundation or a treasury.
The split of the 15B between XRP-holder airdrop and Flare-controlled allocations isn't published for SGB. The Defiant reported that one 2021 announcement covered 30% of supply. Under the brief, a founder-designed airdrop counts as premine, so the whole genesis counts either way.
Sources: support.btcmarkets.net · coingecko.com · songbird-api.flare.network · dev.flare.network · tradingview.com · kraken.com. Researched 2026-10-24, low confidence.
No SEC/CFTC determination — unclassified.
The regulator's position, reported as stated, not CoinSpectrum's. Assets nobody has ruled on are left unclassified rather than sorted by a guess.
Songbird is #129 among cryptocurrencies and #965 in the market ranking, which lists wrapped coins, staked derivatives, stablecoins and tokens alongside them. CoinSpectrum counts an asset once, and counts only cryptocurrencies: assets with their own blockchain and their own consensus. A wrapped coin, a staked derivative or a stablecoin is a claim on something already counted; a token, memecoin or otherwise, runs on another chain's blocks. All of them are listed, each in its own section, and none is added to the total. The 836 places between Songbird's two ranks are held by claims and tokens, not by other networks. The methodology sets out the rule and the counting rule argues for it.
The price above is the median of the exchanges the site reads live, checked every minute and cross-checked against a market snapshot (how market data is gathered). The grade is scored on published criteria, each with its source (the method). The site is independent, nothing on it is a paid placement, and its statements are signed (about CoinSpectrum, the manifesto).