Flare Labs' FAssets system serves as an important solution to bridge different ecosystems and is gradually realizing its vision: bringing assets such as XRP, BTC, and DOGE into the decentralized finance (DeFi) space. The launch of the Songbird test marks a significant step from the conceptual phase to real-world application for FAssets, laying a solid foundation for a liquidity hub across multiple ecosystems. (Background: The Bank of Japan is leaning towards 'no interest rate hike' next week, continuing the yen arbitrage trading space; can Bitcoin continue to rise?) (Additional Background: Japan's economy is too strong! Experts estimate a probability of over 50% for a rate hike in December 'if the U.S. lowers rates while Japan raises'). This article is an editorial piece provided by Flare Network, and does not represent the stance of BlockTempo, nor is it investment advice or a recommendation to buy or sell. Please refer to the end of the article for the responsibility disclaimer. Flare Network is very pleased to announce that the open test phase has successfully concluded, achieving the following remarkable milestones: over 263,000 mints, over 395,000 transactions, and the active participation of over 48,000 participants. Now, Flare Network is ready to move into the next phase—welcome to the Songbird FXRP test, which is Flare's Canary network, with FBTC and FDOGE also to be launched shortly thereafter. Key differences between the open test and the Songbird test: The Songbird test serves as a crucial real-world testing platform for FAssets, further introducing the Songbird native token SGB, which has monetary value, and USDX as collateral for FXRP minting, thereby more accurately reflecting real user behavior. Additionally, the Songbird test has introduced an important upgrade—a selective 'handshake' process that allows authorized agents to verify the identity of addresses executing minting and trading, with these agents able to reject requests from malicious addresses, achieving a better balance between decentralized flexibility and security compliance. Testing parameters: The Songbird test will adopt the following clear testing parameters to ensure the stability of issuance and operation: Minting cap: The total minting limit for each asset is set at $2 million to maintain a controllable issuance scale. User insurance mechanism: Flare Labs commits to providing loss compensation of up to $300,000, offering additional protection to participants. Testing period: The testing period for each asset will last at least 6 weeks for in-depth and comprehensive performance and behavior analysis. Reward program: Users participating in the Songbird test will enjoy multiple incentives, including a total of $260,000 in rFLR retroactive airdrops, designed specifically for active participants in the test. The rewards are not limited to minting and trading FAssets, but also include the following actions: Providing collateral, participating in liquidation agent operations, and trading FAssets on decentralized exchanges (DEX). Notably, BlazeSwap and Enosys are integrating FXRP into the Songbird network and launching incentive pool programs. Specific details on reward distribution will be announced soon. Vision: The launch of FAssets on Songbird is a significant milestone for Flare Labs and Flare, bringing us closer to the full launch of FAssets while further driving our long-term vision of becoming a multi-ecosystem liquidity hub. FAssets empower XRP, BTC, and DOGE to interact with smart contracts, unlocking liquidity covering trillions of dollars in the market. Through FAssets, users can trade, lend, and stake assets, fully unleashing the enormous potential of these assets in the DeFi space. Flare Labs' over-collateralization model ensures that each bridged currency unit is backed by higher-value assets, further enhancing overall security and effectively addressing trust issues in traditional custodial and multi-signature solutions. FAssets serve as a secure entry point, allowing users to explore the vast application scenarios of XRPfi, BTCfi, and DOGEfi. Join now! Flare Labs will gradually open source all components of FAssets, including the user interface, allowing users to participate in minting applications through multiple channels, avoiding potential risks of single participation. During the Songbird test period, users can mint FXRP through the following websites: http://fassets.oracle-daemon.com http://fassets.au.cc Information for developers: Developers can visit the FAssets on Songbird page in the Flare Developer Hub for details on testing parameters and related technical information. Let the test officially begin! _______ Editorial disclaimer: The content of this article is an advertisement provided by the contributor, and the contributor has no relationship with BlockTempo; this article does not represent the stance of BlockTempo. This article is not intended to provide any investment, asset advice, or legal opinions, and should not be viewed as an offer to buy, sell, or hold assets. Any services, programs, or tools mentioned in the advertisement are for reference only, and the final actual content or rules are subject to the announcement or explanation of the contributor. 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