Pangolin SongbirdPrice

(PSB)

Pangolin Songbird (PSB) is a decentralized exchange (DEX) operating on the Songbird network, utilizing an automated market-making (AMM) model similar to Uniswap V2 for token swaps. It also serves as the native governance token for Pangolin within the Songbird ecosystem. Its core purpose is to facilitate decentralized token trading and enable community-driven decision-making.

The Songbird Network functions as the "Canary network" for the Flare Network. It is an operational blockchain with a defined token supply, specifically designed to test new features and core protocols, such as the Flare Time Series Oracle (FTSO), StateConnector, and F-Asset systems, in a real-world environment before their deployment on the main Flare network. This process helps harden the system by simulating actual conditions.

Pangolin Songbird, as part of Pangolin's broader mission, aims to establish a chain-agnostic exchange. It seeks to provide solutions for high transaction costs and slow transaction speeds often encountered in blockchain environments. Its objective is to foster a cross-chain future by developing robust bridge infrastructure, enabling seamless and efficient movement and trading of assets across different blockchain networks.

The PSB token serves primarily as a governance token, empowering holders to participate in Pangolin DAO's decision-making process by voting on various proposals. Beyond governance, PSB can be utilized for providing liquidity in various token pools, engaging in "Sunshine and Rainbows" (SAR) staking to earn rewards, and participating in farming activities to gain additional reward tokens.

"Sunshine and Rainbows" (SAR) is an innovative incentive system where users stake PSB tokens (or other compatible ERC20 tokens). The unique aspect of SAR staking is that users earn more rewards the longer they keep their tokens staked and do not claim them. This mechanism allows for compounding rewards without requiring users to withdraw and re-stake their initial capital. The Annual Percentage Rate (APR) for SAR staking dynamically adjusts based on the staking duration and the specific pool's underlying dynamics.

When users execute a token swap on the Pangolin Songbird decentralized exchange, a standard 0.3% transaction fee is applied to the operation. This fee is then distributed among the liquidity providers who have contributed assets to the specific trading pool where the swap occurred. This mechanism incentivizes users to provide liquidity, as they earn a portion of the trading fees generated by the platform.