Songbird SGB

1. Summary

Ranks

Liquidity

95

Developer

-

Social

98

Momentum (beta)

42

Stack Rank™

-

Price

$0.005797640000 +1.0%

Market Cap

$90.00M (#370)

Supply

15.05B / 18.29B

Tags

Smart Contracts

More Metrics

Price
52W High price	$0.02
52W High date	2nd Mar 2024 (11 months ago)
All Time High (ATH) Date	30th Sep 2021 (3 years ago)
ATH Price	$0.71
% From ATH	-99.13%
All Time Low (ATL) Date	13th Oct 2023 (1 year ago)
ATL Price	$0.003717760000
% From ATL	66.75%

Supply & Trading Volume
Trading Volume (24h)	$276,758.00
Total Supply	18.29B
Circulating Supply	15.05B

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Description

Songbird (SGB)

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Songbird (SGB)

Songbird is the "canary" or live beta network for the Flare network, designed to be a permanent testing environment. It aims to enable blockchains that cannot run smart contracts to interact with the ecosystem. Songbird is based on a modified version of the Avalanche consensus protocol.

Token Overview

• Symbol: SGB
• Usage: Songbird token (SGB) is used to pay transaction fees, vote on network governance decisions, and interact with Songbird applications.
• Launch: September 2021
• Founders: Hugo Philion, Sean Rowan, and Dr. Naïri Usher
• Token Distribution: Airdropped to XRP holders at a ratio of 0.1511 SGB per XRP held in eligible wallets

Key Features

• Primary Function: Testing ground for new features before their deployment on the Flare network.
• Consensus: Unique consensus algorithm called the Flare Consensus Protocol (FCP), aiming to reduce energy inefficiency.
• Interoperability: Allows integration with Ethereum-based technology and non-fungible tokens (NFTs).
• Governance: The SGB token facilitates community governance on the Songbird blockchain, with the Flare Foundation currently holding the majority vote.
• Supply: Limited token supply, increasing by 10% annually.

Songbird's Role in the Flare Network

• Layer 1 Blockchain: Songbird plays a crucial role in the Web3 development landscape, bridging blockchain cross-chain communication gaps without relying on centralized services.
• Flare Network Integration: Songbird is by the Flare Network, allowing users to test their applications before deploying them on Flare.
• Additional Features: Includes novel technologies like the State Connector, FTSO (Flare Time Series Oracle), and F-assets.
• Practical Testing: Real-world testing facilitates practical application development, making Songbird an interesting case study in the crypto landscape.

Potential Value

• Market Cap: Reflects the coin's economic standing within the broader crypto market.
• Price History: The Songbird price has seen both highs and lows, notable for its initial growth and subsequent fluctuations.
• Risk and Potential: Songbird's success is linked to the Flare network, though it has its own unique features that set it apart in the crypto space.
• Future Bearing: Songbird continues to evolve, refining its approach to Web3 and its applications in blockchain interoperability.

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