EVM compatible L1 network Flare co-founder Hugo Philion stated that the project is building its DeFi ecosystem: "Flare is essentially becoming a DeFi hub," and added that it is "rapidly evolving" through collaboration and integration. According to Philion, Flare is also preparing to launch FAssets on its Songbird canary network in December, which are over-collateralized bridges for "non-smart contract tokens like Bitcoin, XRP, and Dogecoin," with the mainnet expected to be launched "early next year." The network provides developers with "decentralized access to high-integrity data from other chains and the internet," utilizing its Flare Time Series Oracle and Flare Data Connector as an alternative to centralized off-chain Oracles for DApps. (Decrypt)