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Songbird Network

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Songbird Network

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Last Updated

May 24, 2022, 13:10 UTC

Created On

May 24, 2022, 13:10 UTC

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Overview

Native Token

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Overview

The Songbird Network is the canary network of the Flare Network. Songbird is a fully decentralized, live, and independent network that has the ability to run smart contracts. Songbird's native token, $SGB, has several use cases such as being used for network governance and being used for delegation to earn passive rewards.

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What is a Canary Network

A Canary Network is a live operational decentralized blockchain with a limited native token supply that is intended to be used to test features for a main net. Due to the network's limited native token supply the token has the ability to hold a market value. This is in contrast to a test network where the native token has an infinite supply.

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Native Token

The native token of the Songbird Network is $SGB. The initial distribution of $SGB occurred on September 16th, 2021 with a supply of 15 billion tokens. The Songbird Network does not rely on proof-of-stake which frees the native token for other use cases such as delegation in the Songbird Time Series Oracle which grants the ability of earning passive yield.

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Mar 10, 2022

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Mar 10, 2022

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TLDR

The Songbird Network is the canary network ...

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