Hugo Philion - Flare Networks - Songbird SGB - Assets on the Flare Network - Uphold Interview
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They're open systems and people will build things with them that we haven't thought of yet. But being able to have smart contracts for layer 1's that don't have them, the state connector, the decentralized built-in oracle, an EVM that works much faster than on Ethereum, being able to trade various L1s on a DEX, decentralized governance, all open up a lot of potential. it's super cheap fees (transactions), secure, fast, uses almost no energy... this is the best network for smart contracts! Paying transaction fees FTSO vote delegation Minting F-assets Use in apps being built on the network like Flare Finance and Trustline. The simple fact that a SGB/Flare wallet will be able to hold anything bep 20, erc 20, xrpl game changer and you'll be rewarded for bringing on those assets.
The real power in WSGB is that it utilizes a detachable voting function for the FTSO and governance functions of the network. This also means that users can deploy the WSGB token in DeFi protocols or elsewhere while simultaneously voting in governance and earning inflationary rewards in SGB on a weekly basis through FTSO delegations to signal providers.
Matt Rosendin of Trustline recently announced that they will be launching their decentralized stablecoin protocol, Probity, on the Songbird Network sometime in October. Probity has a similar design to MakerDAO in that it takes collateral from suppliers and borrowers to mint and issue stablecoins. On Songbird Network, it would be expected that WSGB will be the collateral of choice. Once live on Flare Network, Probity will feature FLR and FXRP as premium collateral. Additionally, Aurei (AUR), stablecoin of Probity, can be issued on the XRP Ledger with the Flare and Songbird Networks as the decentralized counterparty.
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