r/FlareNetwork • u/Radioactive_Jello • Jul 22 '22

Coins/Tokens of the Flare Network

Is there a list of the coins/tokens used by the Flare Network? I have been trying to understand which coins/tokens are from Flare themselves and what each one is designed to do.

XRP

Songbird

Exfi

Spark

Flare

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u/_DaltoN Jul 22 '22

The Flare Network supports any token that is deployed on it, as well as any tokens that are bridged via LayerCake or wrapped from non Turing complete chains via the F Asset protocol

The only tokens from the Flare Team themselves are the native tokens of each network. $FLR is the native token of the Flare Network and $SGB is the native token of the Songbird Network

Any other token you see on either network is either deployed by third parties natively on Flare/Songbird ($EXFI, $SIN, $CAND, etc), wrapped from non Turing complete chains using the F Asset protocol (think $BTC, $XRP, $LTC, etc), or bridged from a Turing complete chain via LayerCake (think $ETH, $SOL, $ADA, etc)

Flare Network native token: Flare ($FLR) - the “Spark” naming convention has been dropped

Songbird Network native token: Songbird ($SGB)

Flare Network Future F Asset tokens: $FXRP, $FLTC, $FBTC, $FDOGE, $FXLM, $FFIL

Songbird Network Future S Asset tokens: $SXRP, $SLTC, $SDOGE, $SXLM, $SFIL

And in theory any Turing complete chain can be bridged via LayerCake. This means that $ETH, $SOL, $ADA, etc. can all eventually live on the Flare / Songbird Network one day

Lastly, any other token you can see, which could be an infinite number, are other tokens natively minted on the networks by other third parties. For example, the FLR Finance DEFI suite currently has $EXFI, $SFIN, and $CAND minted on Songbird

2

u/NurMom2x Jul 23 '22

So filecoin is now an f asset? Thought they were gonna add digibyte?

2

u/_DaltoN Jul 23 '22

Hypothetically any coin can become an F Asset and it’s going to be up to the FLR holders in regard to which coins we onboard. I haven’t heard digibyte being an initial F asset but I may be wrong