We’re pleased to announce the launch of our STSO (SongBird Time Series Oracle) Signal Provider — DeFiOracles. Running parallel to our Signal Provider, we’ve launched FlareIndex a service that parses and sorts the data from every block. Not many people know this, but some of the largest protocols on Ethereum utilize The Graph (https://thegraph.com/) to serve indexed on-chain data to their DAPPs. We plan to launch FlareIndex as the first indexing protocol on SongBird — and soon the Flare Network — then branch out to provide enterprise grade indexed data to developers on a host of other blockchains.
Why should you vote for DeFi Oracles?
Simply put, a vote for DeFiOracles is a vote for ecosystem growth. DeFiOracles is a one of kind STSO with goals to operate dually as the most accurate source of pricing information and first ever community sourced liquidity generating oracle. DeFiOracles pledges to allocate 100% of newly minted rewards (less any operating costs to maintain the STSO to its maximum capabilities) to locking up Songbird Token on FlareLoans, minting stable Canary Dollar ($CAND), and locking up the liquidity on FlareX in the SGB/CAND Liquidity Pool. This will help to increase the scarcity of the Songbird Token and increase on-chain liquidity for holders in the form of Canary Dollar. Once added, this liquidity will never be removed. Additionally, all fees generated from the liquidity pool will be accrued and transferred to the Yield Cloud in the form of Spark Token ($FLR) come main network launch. This amount will vary depending on the exchange rate available when converting generated revenue into $FLR. This will go on for the entire duration of ExFi, until the Flare Network launches. At which point, DeFiOracles will retain the ongoing revenue from the STSO.
Supporting DeFiOracles is supporting a team who has driven 32M+ impressions to the network and amassed 95k+ followers on Twitter across all pages (FlareFinance, FlareScan and DeFiOracles) and risen to as high as #183,090 in global internet traffic and engagement over the past 90 days before launching a single product. The Flare Finance Team remains dedicated to producing borderless decentralized products for the world on the Flare Network. This includes creating new hand-made developer tools, consumer services, and product offerings that can accomplish good for those seeking to engage and expand on the Flare Network.
In addition to running one of the largest independent marketing firms in the ecosystem, we have actively showcased the potential of the Network with a product offering that shows steady improvement and invested $250,000+ USD into security audits with plans to spend much more. The product suite is not a simple copy paste of proven models on ETH but an ecosystem designed to incentivize long term participation such as holding, staking and voting. An experiment if successful will bring protocol driven sustainable yields to users on the Flare Network. We’ve done this without VC funding (yet).
How can I vote for DeFiOracles?
Voting for DeFiOracles is as easy as 1–2–3!
- Head over to https://defioracles.net/.
- Wrap your $SGB. (Be sure not to wrap ALL of your $SGB as you will need Gas for the Delegation.)
- Click “Delegate” and delegate as much $SGB as you would like to DeFiOracles!
DeFiOracles has a kickback rate of 80% with the 20% fee being utilized for liquidity as described above.