Flare Network launches Songbird test: users can easily trade mint, unlock rich rewards

Flare Labs' FAssets system, an important solution for bridge's diverse ecosystems, is gradually realizing its vision: to bring assets such as XRP, BTC and DOGE into Decentralized Finance. The launch of the Songbird test marks an important step for FAssets to move from concept to real-world applications, laying a solid foundation for a multi-ecosystem Liquidity hub. (Synopsis: Japan's Central Bank next week "tends not to raise interest rates" yen Arbitrage trading space continues, BTC can continue to rise? (Background added: Japan's economy is too strong!) Experts estimate that the probability of interest rate hikes in December exceeds 50%, "If the United States falls sunrise", be careful of the yen Arbitrage liquidation tide) This article is widely compiled and provided by Flare Network and does not represent the position of the region, nor is it investment advice, purchase or sale advice. For details, please refer to the liability warning at the end of the article. Flare Network is proud to announce the successful conclusion of the Open Beta phase with the following impressive milestones: over 263,000 minted coins, over 395,000 transactions, and over 48,000 active participants. Today, the Flare Network is ready to take the next step – welcome to the Songbird FXRP test, Flare's Canary network, followed by FBTC and FDOGE. Key differences between open testing and Songbird testing Songbird testing, as a key real-world testing platform for FAssets, further introduces Songbird's native coin SGB with coin value, and USDX as FXRP coinCollateral, so as to more accurately reflect real user behavior. In addition, Songbird testing has added an important upgrade – a selective "handshake" process that allows authorized agents to verify the identity of addresses performing minting and trading, and these agents can reject requests from malicious addresses, striking a better balance between the flexibility of Decentralization and security compliance. Test Parameters Songbird Testing will use the following clear test parameters to ensure the stability of issuance and operation: Mint Cap: The total minted amount of each asset is limited to $2 million to maintain a manageable issuance scale. User Insurance Mechanism: Flare Labs promises compensation of up to $300,000 in damages to provide additional protection for participants. Test cycle: Each asset will be tested for a minimum of 6 weeks for in-depth and comprehensive performance and behavior analysis. Rewards Program Users who participate in the Songbird test will enjoy multiple incentives, including a total of $260,000 rFLR backtracking Airdrop, designed for participants who are active in the test. Reward coverage is not limited to minting and trading FAssets, but also includes the following behaviors: Provide Collateral to participate in clearing agent operations Trading FAssets on Decentralizationexchange (DEX) It's worth following that BlazeSwap and Enosys are integrating FXRP into the Songbird network and launching an incentive pool program. Details of the award distribution will be announced soon. The launch of FAssets at Songbird is an important milestone for Flare Labs and Flare, bringing us closer to the full rollout of FAssets, and furthering our long-term vision of becoming a hub for multi-ecosystem liquidity. FAssets enable XRP, BTC, and DOGE to interact with smart contracts, unlocking Liquidity, which spans a trillion-dollar market. Through FAssets, users can trade, borrow, and stake assets to unlock their full potential in the Decentralized Finance space. Flare Labs' over-collateralization model ensures that every bridge coin unit is backed by a higher-value asset, further enhancing overall security and effectively addressing trust issues in traditional custody and multisig solutions. FAssets serve as a secure entry point, allowing users to explore a wide range of use cases for XRPfi, BTCfi, and DOGEfi. Join now! Flare Labs will gradually open all components of Source FAssets, including the user interface, in a way that allows users to participate in minting applications through multiple channels, avoiding the potential risk of a single participation. During the Songbird test, users can use mint FXRP at the following website: Information for Developers Developers can go to the FAssets on Songbird page of the Flare Developer Hub for details on test parameters and related technologies. Let's get the test started! ___ Disclaimer: The content of this article is a publicity manuscript provided by the contributor, and the contributor has no relationship with the moving area, and this article does not represent the position of the moving area. This article is not intended to provide any investment, asset advice or legal advice and should not be construed as an offer to buy, sell or hold assets. Any services, programs or tools, etc. mentioned in the content of the publicity manuscript are for reference only, and the final actual content or rules are subject to the announcement or explanation of the contributor, and the moving area is not responsible for any possible risks or losses, and readers are reminded to check carefully before making any decisions or behaviors. 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