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About Songbird (SGB)
Firstly, a word about Flare, a recent entrant into the crowded and competitive "interoperability" space now energizing the entire blockchain industry. This still-in-development protocol aims to bring smart contract functionality to a slew of non-Ethereum-run layer-1 assets, such as Litecoin, Dogecoin, Stellar and XRP, currently lacking it.
Launched in September 2021, Songbird is Flare's "canary," or live beta, network.
SGB is Songbird's native coin.
Songbird is designed to be a permanent breeding ground for Flare, specifically built to be an enabler for those blockchains otherwise incapable of running smart contracts. It’s focusing, to start, on popular, community-supported coins (e.g. DOGE) of/for the people but in need of more functionality,, a co-founder of the Flare Network.
Although often compared to a testnet, a canary network is live, subject to real-world conditions. It’s a fully operational blockchain with a pre-defined token supply. That supply is kept scarce, by design, as features for Flare (main net) are thoroughly tested,.
SGB’s "observation mode" phase concluded in late September of 2021. It was instrumental for deploying and testing the underlying network and the Flare Time Series Oracle (FTSO), which is the first of three protocols that'll eventually "combine to enable approximately 65% the value in the crypto industry to be used trustlessly on Flare with highly scalable Ethereum Virtual Machine (EVM)-based smart contracts,”.
In late 2021, SGB was airdropped to XRP holders.
The breeding grounds on Songbird already have produced FlareX, an experimental decentralized finance (DeFi) platform that as of January 2022 had completed an airdrop of 40 million EXFI tokens to SGB holders as well as to holders of Wrapped Songbird (wSGB),.
Numerous DeFi projects, data providers, exchanges, wallets and custodians have expressed their intent to launch and test their applications on Songbird. These include Gala Games, 888 TNW, Trustline, Global Esports Federation, Delchain, Lena Instruments, Flare Finance, Ola Finance, Flare Metrics and more (The Daily Hodl).
How to buy Songbird (SGB)
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