#SONGBIRD NETWORK HOW TO#

This network supports a new token also called Songbird (SGB) (essentially a test token) which is also being airdropped.

SGB holders can delegate their tokens to their own choice of Data Providers they can research Data Providers here. On 16 September 2021, Flare Networks announced in a tweet that they have launched a new ‘Canary network’ (essentially a test network) called Songbird in order to continue testing in anticipation of the mainnet Flare launch.

While Flare is not yet live, Songbird is a fully operational blockchain created for: advanced testing and community building for applications that will launch on Flare. Data providers share distributed network rewards with their SGB delegators on a weekly basis. Songbird is the Canary Network for Flare, a highly scalable distributed blockchain network designed to supercharge the XRP Ledger ecosystem.Rewards are distributed according to their accuracy and the volume of a Data Provider’s delegated SGB tokens. Data Providers are rewarded by the network for delivering the most accurate prices.The FTSO design is based upon three integral factors: Songbird reached its highest price on when it was trading at its all-time high of 0.673565. The SGB price decreased -0.50 in the last 24 hours. For more detailed information on the integration of Flare Network’s infrastructure components, we recommend reading the FTSO breakdown blog post. Songbird price today is 0.024101 with a 24-hour trading volume of 432,952, market cap of 0.00, and market dominance of 0.00. The FTSO is the key to Flare Network’s participation incentives and network decentralization functions. This is the ‘heartbeat’ of the Flare network, bringing applications to life through the provision of rapidly updating, accurate price data via a network of decentralized data providers. Its a system that sources externally provided price data for trade pairs. The Songbird (SGB) token rose 75.80 to US0.03071 at 6:30 am ET on Tuesday after its. The Songbird (SGB) token has a current market capitalization of US308.5 million.

Flare, a distributed network, enables secure interoperability between chains by integrating with the Ethereum Virtual Machine (EVM).

#SONGBIRD NETWORK HOW TO#

With more and more users joining Flare’s ecosystem, we wanted to provide clear guidance on how to earn weekly rewards by delegating your SGB tokens to the FTSO.įTSO is the Flare Time Series Oracle. The Songbird network has a built-in system called the Flare Time Series Oracle (FTSO). Songbird is the canary network for Flare. SGB are also available to buy on exchanges such as Bitrue and Gate.io. For every 1 XRP held at the time of the snapshot, 0.1511 SGB have been allocated and distributed. Songbird tokens (SGB) have been distributed to wallets and exchanges holding an XRP token balance at the December 12th 2020 snapshot.