Pangolin is a decentralized exchange (DEX) using the same automated market-making (AMM) model as Uniswap V2, which utilizes the constant product formula. Pangolin was launched in February 2021 as a proven concept for AMMs native to the Avalanche network. Pangolin DAO’s mission is to create a chain-agnostic exchange utilizing blockchains with low transaction costs, high transaction speed, and the bridge infrastructure for a cross-chain future. In this regard, Pangolin will launch on the Songbird network. Pangolin will also feature a native governance token on the Songbird network called PSB.
Flare is a new blockchain which enables secure universal interoperability between chains - scaling the use of blockchain by enabling all digital assets and onchain information to flow freely. Songbird is the Canary network for the Flare Network (https://flare.xyz/). A “Canary network” is an operational blockchain with a defined (and hence scarce) token supply that is intended to be used to test features for a related mainnet. On a Canary network users have a balance that cannot just be replenished at will. This is in contrast to a testnet which generally has an unlimited token supply available in increments to any user through a faucet.
Songbird will have its own token used for gas on the canary network, Songbird, which will be distributed once only and in the same ratio to all the same recipients of the FLR distribution. Total starting supply will be 15 Billion with initial inflation of 10% per annum through the FTSO and validator rewards systems.
