uModern

ultraModern, the blog that's in the know

SundaeSwap, the first institutional-grade DEX on the Cardano Blockchain, will be going live today. This will give every Cardano user access to financial instruments, which generate passive income, that are currently only available to traditional financial institutions. We’ll go over all the information you need to know about SundaeSwap’s go-live date, and how to participate to earn SundaeSwap’s native token $SUNDAY.

Article Dictionary is at the end of every article. More than likely if you find an acronym or word that you’re unsure of, it’s defined in the Article Dictionary. The goal is that eventually you can read without referring to the Article Dictionary, but for all new comers- welcome.

Tip: All acronyms and words italicized are in the Article Dictionary.

So Close You Can Taste It

January 20th, 2022SundaeSwap goes live as a full-functional beta DEX.

January 20th, 2022Yield farming for $SUNDAE rewards begins, and will be available for at least the first six months.

January 25th, 2022 – First round of ISO rewards will be calculated. You must delegate $ADA to qualifying ISO Scoopers prior to 21:45 UTC to be able to earn $SUNDAE for all five ISO rounds.

When SundaeSwap goes live, there’ll be three ways to earn $SUNDAE. First, and the most simple way, is by swapping $ADA for $SUNDAE through SundaeSwap. Second, is by delegating your $ADA to a qualifying ISO Scooper. Third, is by earning yield farming rewards by being a liquidity-provider and farming your liquidity-pool tokens.

Since the first example, swapping $ADA for $SUNDAE, is a remedial task, we’ll focus on the second and third examples. The second example is based on delegating your $ADA as votes to a qualifying SPOs.

Interjection; See qualifying SPOs here: https://iso.sundaeswap.finance/#/voting

Delegating To A SPO

To delegate to a SPO, you must hold your $ADA in a supported wallet- outside of a centralized exchange. I suggest Yoroi because it’s lightweight and is available as a mobile application, or browser extension. Delegating your $ADA, as votes, is a matter of clicking a few buttons and then choosing the the percentage of $ADA you want to delegate. If you’re familiar with delegating your $SGB to Songbird FTSOs, then this’ll be a breeze for you. Be sure to choose from one of the qualifying SPOs– see the link above this section.

For a guide on how to delegate your $ADA in Yoroi, please visit this page and scroll down to the bottom: https://yoroi-wallet.com/#/faq/2

The reward for delegating $ADA to a qualified SPO is your fair share of 5% of the entire supply of $SUNDAE. Your share is based on how much $ADA you delegate, and how much $ADA others delegate because the distribution of $SUNDAE will be divided equally per $ADA (vote).

Providing Liquidity And Yield Farming

To provide liquidity to the SundaeSwap DEX, you must have a pair of supported assets. Once you have a pair, or multiple pairs, of the supported assets, then you’ll be able enter the liquidity-pool(s) to earn off transaction fees (swaps), in the form of $ADA, from every swap that happens between the pair(s) of assets you’ve provided liquidity for. After successfully submitting your transaction to enter the liquidity-pool, you’ll be given LP tokens that represent your share of liquidity within a respective pool. The LP token can be used to earn $SUNDAE through Yield Farming by staking your LP tokens within the respective farming pool- so if you’ve provided liquidity for the pair of $SUNDAE/$ADA, then you’ll want to stake your SUNDAE/ADA LP tokens within the SUNDAE/ADA farming pool.

Supported assets on the SundaeSwap DEX:

$SUNDAE/$ADA, $LQ/$ADA, $WMT/$ADA, and $CARDS/$ADA.

The reward for providing liquidity to SundaeSwap’s DEX is $ADA earned from transaction fees (swaps), and a total of 500,000 $SUNDAE distributed evenly amongst all participants in the farming pools.

Disclaimer

Expect congestion and delays.

For more information about the congestion and delays to be expected, visit here: https://sundaeswap-finance.medium.com/expectations-congestion-mainnet-launch-e9da5abfd819

Article Dictionary

  • SundaeSwap – Decentralized exchange (DEX), and decentralized finance (DeFi) protocol for the Cardano blockchain.
  • Cardano – Proof-of-stake blockchain network.
  • $SUNDAE – Native token of the SundaeSwap DEX.
  • $ADA – Native currency of the Cardano blockchain used to pay transaction fees.
  • ISO (Initial Stake Pool Offering) – A way for decentralized finance (DeFi) initiatives to distribute tokens in a fair and decentralized manner while also gaining community support.
  • Delegate – Let someone else use your tokens to produce blocks; on a proof-of-stake network. You still own the currency, and you get a slice of any rewards they generate.
  • DEX (Decentralized exchange) – Cryptocurrency exchange which allows for direct peer-to-peer cryptocurrency transactions to take place online securely and without the need for an intermediary.
  • Centralized Exchange – Cryptocurrency exchange which is hosted by a single trusted entity that acts the intermediary for all swaps, and also acts as a custodian for all assets.
  • Yield Farming – Funds are locked, or staked, into smart contracts that control the liquidity pools decentralized finance lending protocols rely on.
  • Liquidity Pool – A pool of cryptocurrency assets locked within a smart contract, which can be used for exchanges, loans and other applications.

If you have any questions, then please don’t hesitate to join our Discord here: https://discord.gg/qprerSb3

Welcome to the Gamma Phase of the Experimental Finance Network deployed on the Songbird network- developed by Flare Finance. ExFi, or Experimental Finance, is a decentralized finance application that gives participants the ability to swap currencies, provide liquidity and earn swap fees, earn yield through staking pools, access to loans and provide loans, bridge currencies onto the Songbird network, access mutual insurance and provide mutual insurance, and mine non Proof of Work currencies using ASIC mining rigs. That’s a lot isn’t it? Don’t worry, I’ll try my best to explain things simply.

A Phased Rollout

  1. Done: $EXFI will be distributed to all holders of $WSGB and $SGB. FlareX Liquidity Pools will open for all pairs against $EXFI.

  2. Done: FlareFarm Farming Pools will open for individual tokens, and all LP Token pairs from FlareX. 24 hours after farming and the liquidity pools are opened, trading on FlareX will begin.

  3. In Progress: After trading begins, FlareWrap will be deployed to bridge over ERC20 Tokens. (USDT, USDC, and ETH)

  4. In Progress: 30 days after launch of $EXFI, $EXFI Loans will become available on FlareLoans to create $CAND using your $EXFI.

  5. In Progress: FlareGovernance will launch after successful deployment of $CAND minting using $EXFI.

  6. In Progress: FlareDrop will follow the launch of the Governance Module.

  7. In Progress: FlareMutual and FlareMine will follow the successful launch of the FlareDrop and Governance Modules.

As you can see from the list above, steps 1 and 2 are done. This means that you can now use FlareX to swap, or provide liquidity, between pairs of $SGB, $EXFI, $SFIN, and $CAND. Swapping is the act of exchanging one token for another. Providing liquidity to liquidity-pools enables others to swap between pairs of tokens, and, as a reward for providing liquidity, liquidity-providers earn from every swap fee. Also, you can now use FlareFarm to participate in yield-farming using LP tokens, or Liquidity-Pool Tokens, or single Tokens. Yield Farming is a way of earning interest on your tokens like you would in a typical bank savings account.

To learn more about Liquidity Pools, visit here: https://www.gemini.com/cryptopedia/what-is-a-liquidity-pool-crypto-market-liquidity

To learn more about Yield Farming, visit here: https://www.businessinsider.com/yield-farming

Step 3 And Beyond

If you are new to Flare Finance’s ExFi application, on the Songbird Network, then uModern advises you to first learn what the significance of steps 1 and 2 are. I know I briefly described it above, but if you’re still looking for further details then I highly advise you reference the Article Dictionary I’ve written at the end of this article.

If you’ve got bubbling questions, then ask them on our discord here: https://discord.gg/gNPX24TB

We will cover steps 3 and beyond when the times come- I don’t want to over load anyone with too much information.

How To FlareX & FlareFarm

First, in order to utilize FlareX and FlareFarm, you’ll need a browser wallet with access to blockchain networks, specifically Songbird, because in order to use a dApp, or decentralized application, you’ll need to be connected to the relevant blockchain network. The reason for this is because dApps need to connect with your browser wallet in order for you to use your relevant tokens within the application.

Second, you’ll want to have $SGB, $WSG, $EXFI, $SFIN, or $CAND tokens available for use in your browser wallet. Depending where you are in this world, there are different ways to get the assets mentioned above.

NOTE: As of now, $SFIN and $CAND are only available through the ExFi application, not a public exchange, by means of swapping or earning. Also, $WSGB is only available by wrapping your $SGB- see the “FTSO, Said The Oracle” article for more information about BiFrost and wrapped $SGB.

BiFrost, serves as the perfect mobile wallet, being that it’s native to the Songbird Network, and has a dApp friendly built-in browser that connects to the Songbird Network. From the BiFrost browser, you’ll want to visit ExFi’s web address, and then connect to the Songbird Network when you reach your destination. Once you’ve reached the web address and connected to the Songbird Network, you’ll be able to utilize your tokens within ExFi.

Copy and paste the following web address within the BiFrost browser to access Flare Finance’s ExFi application: https://xfx.flr.finance/

To be Continued

Stay tuned for further details covering FlareX and FlareFarm. I will be dedicating an entire article to each of these products, so that I can dive deeper and leave nothing out. If you can’t wait any longer, then check out the many great informational and tutorial videos that are on YouTube, or join our Discord so that you can ask questions.

If you’ve got bubbling questions, then ask them on our discord here: https://discord.gg/gNPX24TB

Article Dictionary

  • Decentralized Application – An application that can operate autonomously, typically through the use of smart contracts, that runs on a decentralized computing, blockchain system.
  • Liquidity Pool – A liquidity pool is a crowdsourced pool of cryptocurrencies or tokens locked in a smart contract that is used to facilitate trades between the assets on a decentralized exchange (DEX).
  • Yield Farming – An investing strategy involving staking or lending crypto assets to generate returns.
  • Liquidity Tokens – When tokens are deposited into a crypto liquidity pool, the platform automatically generates a new token that represents the share the depositor owns of that pool. This is called a liquidity provider (LP) token, and it can be used for a multitude of functions both within its native platform and other decentralized finance (DeFi) apps. This has the effect of multiplying the liquidity available in the DeFi ecosystem.
  • $SGB – The native cryptocurrency of the Songbird Network, and how you’ll be able to get your start on the ExFi application.
  • $WSGB – A wrapped version of $SGB that gets delegated to Flare Time Series Oracles.
  • $EXFI – The secondary government token for the ExFi application that facilitates decentralized voting for protocol’s developments.
  • $SFIN – The primary government token for the ExFi application that facilitates decentralized voting for the protocol’s developments.
  • $CAND – The dollar stable coin within the ExFi ecosystem.

Overview

The Passaways are cute afterlife characters (NFTs) designed by “Mike”. He is a creative director and designer, and has worked for Ogilvy, BBDO New York, and AOL. The Passaways have so much life in them, as TNT-721 tokens, and are represented visually through high-definition film. The films are stored via Theta blockchain’s video-api. Not only will The Passaways be NFT tokens, but they will also be the means of earning $PLASM- a TNT-20 token on the Theta blockchain that will be utilized for The Passaway games and metaverse integrations. The Passaways ecosystem consists of tons of GBs of video data, and because Theta is the leading blockchain for video it was a “no-brainer” for the Passaway team

The Theta blockchain enables a seamless migration of dApps from Ethereum to Theta by providing mirror token standards where: TNT-721 is equal to ERC-721, and TNT-20 is equal to ERC-20.

The Spooky Cute Story

“Good bye. The words last spoken from our friends the Passaways. Interstellar travelers and interdimensional beings who occasionally step back into our world from theirs. Many are searching for the meaning of afterlife while others are just enjoying the afterparty. They've been glimpsed at the foot of our beds and behind us on the stairs. They've been caught pulling at our sheets and whispering our name when we drift off to sleep. They’re trying to tell us something. Now you can help. It is said that capturing a Passaway on film will unite its soul with its caretaker giving them insight into the Passaways world. This is how they will tell their story – through you. So we are releasing 9,666 Passaways that our specialized team has been collecting from all over the globe. These lost souls need to be protected and their stories heard.”

Those United With Passaways

The Passaway community consists Theta OGs, those in the Pineapple Society, and many other communities within the Theta Network ecosystem. The presale is expected to sellout extremely fast in anticipation of all the perks and benefits that come with being a Passaway holder and a member of the Misadventure Club.

Holding one or more Passaways will earn you access to an exclusive discord channel, merch store, IP usage rights, an NFT staking program to earn $PLASM (TNT-20 Token), claim and use $PLASM in games and metaverse integrations, and ongoing airdrops for holders/stakers.

The Presale Event

Are You Brave Enough?

I plan to claim a Passaway in the presale, and prepare myself for all the community perks and benefits- especially staking for $PLASM. I believe that The Passaways are going to be a classic hit in the overall metaverse; due to their infrastructure being built on a scalable and next-generation video-delivery blockchain- Theta- and their elegant sleek design that reflects the details and thought that have gone into this project as a whole. The Passaway team did not cut corners on the Passaways quality, nor utility.

To preview what a Passaway will look like, please visit: https://www.passaways.com/#faq

Closing Statement

If you’re excited to secure a Passaway like us at uModern, then be sure to join our Discord channel so you can stay in the loop, and ask any questions you may have.

To join the uModern Discord, please visit: https://discord.gg/P2uEhhg3

Overview

The Flare Networks introduced the Flare Time Series Oracle– which serves as 1 of 3 building blocks to the Flare Network SDAs (Spark Dependent Apps). The FTSO is an application that aims to generate accurate estimates of off-chain time series data on the Flare Network. The FTSO takes as inputs estimates from two sets of participants: Spark holders and relevant F-asset holders. At regular and prescribed time intervals, participants from both sets may submit to the system their current estimates (votes). Holders whose votes contributed to the final output are then compensated.

Inner Workings

The FTSO has a reward function that generates new Spark ($FLR) tokens. The new Spark ($FLR) tokens are rewarded to Spark holding contributors ($FLR) that delegate their votes. Each Spark token ($FLR) acts as a vote for the FTSO, and is rewarded weekly, about 1% or a little less, if the vote survives truncation- which is very likely unless you’re behaving maliciously. Since the Flare Networks doesn't require staking or computation returns for safety, the FTSO is the inflation function for Spark.

The Songbird

In order for a seamless rollout of the Flare Network, the organization deployed a canary network (test network) entitled Songbird, with it’s native token $SGB, that serves as a long-term testing grounds where real value is at play. Songbird launched as a pure EVM (Ethereum Virtual Machine) smart contract network that enables testing of the network architecture and initiates testing of third party DApps (decentralized apps). Subsequently, the Flare Time Series Oracle feature was enabled.

Songbird ($SGB) cannot be delegated directly; instead, you need to wrap your $SGB to the utility token Wrapped Songbird ($WSGB). For a detailed explanation on how to wrap and delegate your $SGB, please refer to the BiFrost tutorial that’s linked below.

For the tutorial mentioned above, please visit: https://support.bifrostwallet.com/en/articles/5588951-wrap-and-delegate-songbird

Value Of Delegation

The long-term value of delegating votes to the FTSO is earned from the compounding growth by claiming weekly rewards, at 1% or a little less, and reapplying the rewards for more weekly delegations. This concept is known as the snowball effect, and will ultimately bear greater rewards when the value of the network increases in value itself.

My Plan

I plan on claiming my weekly rewards in $SGB and then wrapping them to add to the nest of my $WSGB that’s already being delegated in order to create compounding returns through the years. I use Flare Metrics’s website in order to figure out which FTSO I want to delegate to. I choose based on the reward rates since I’m trying to earn the most for my votes, but I always delegate to two FTSOs at minimum in order to support decentralization. To see the reward rates for yourself, please visit the link attached below.

To see the reward rates of FTSOs, visit Flare Metrics here: https://flaremetrics.io/ftso

If you would like to conversate the uModern team directly, then please join our discord by visiting the link attached below.

To stay in the uModern loop, visit our Discord server here: https://discord.gg/Ejar3Zcj

Introduction

Get ready for an awesome collaboration that will set a new standard for NFTs. VeeFriends is one of the most reputable NFT collections in the modern day, and Mattel is one of the most reputable manufacturing companies for almost a century now. There are very little details surrounding the product, with such short notice, but I’m 100% confident the Mattel VeeFriends will be profound! VeeFriends was created by serial-entrepreneur Gary Vaynerchuk, who is best known for starting one of the very first e-commerce businesses for wine, investing in Facebook Twitter and Instagram at early stages, and providing media marketing for some of the largest brands in the world.

The Vee Vision

It's safe to say that this is a long-term partnership that will result in profound collectible items- like the many Hot Wheels and Barbies Mattel have already produced. VeeFriends themselves are extremely valuable- not only by financial metrics, but also within the hearts of many diehard fans all across the globe. If you’re not familiar with Gary Vaynerchuk then that’s okay because VeeFriends stretch far beyond him, as an individual, and has the potential to be a household name. Ultimately, VeeFriends brings together people that hold a shared vision of entrepreneurship, creative freedom, and kindness.

To learn more about Gary Vaynerchuk’s vision, visit:

Yes, Community Matters

The VeeFriends community is one of the most progressive and positive communities one could be a part of- that I'm dying to be a part of. If you're not familiar with Gary Vaynerchuk then this will probably mean nothing to you, but VeeFriends represent his most cherished values on life personified into characters. The positivity and truthfulness radiating from every VeeFriend ripples throughout the entire community and is reflected by the engagement of participants and encouragement they give to each other.

Prospective Value

The value of this collaboration, between VeeFriends and Mattel, has yet to be determined, and can maybe only be determined at an individual level, but there's no doubt they'll hold some sort of utility or experience beyond the physical item itself- as with most, if not all, of Gary Vaynerchuk’s products. He is known for being very generous and creating tons of value for the brands he builds and works for.

To see how much VeeFriends are worth on the market, visit: https://opensea.io/collection/veefriends

How to Participate

My Plan and My Risk

Using a collector’s and community participant’s mindset, I plan on buying one for long-term holding (profitability), and buying another one for immediate use (participation). From both of these angles, I'll be able to maximize the potential for value in return. The risk associated with this investment is like any other investment: the investment may lose money, or all-in-all become worthless.

Conclusion

In my opinion, this collaboration will go down in history and set a new standard for all NFT projects to come.

To learn everything about VeeFriends, visit: https://veefriends.com/faqs

Subscribe to uModern if you want to stay ahead of the curb, and get notified when updates are made.

To join the uModern discord, visit: https://discord.gg/2qX8GU3c

What is the Theta Network?

“The Theta Network is a next generation video and entertainment blockchain powered by you.”

Does the Theta Network Have Credibility?

“Theta’s innovation is set to disrupt today’s online video industry much in the same way that the YouTube platform did to traditional video back in 2005. One of our biggest challenges had been the high costs of delivering video to various parts of the world, and this problem is only getting bigger with HD, 4K and higher quality video streams. I’m excited to be part of the next evolution of the streaming space, helping Theta create a decentralized peer-to-peer network that can offer improved video delivery at lower costs.”

Steven Chen, Co-Founder YouTube

“The Theta blockchain is the only end-to-end infrastructure for decentralized video streaming and delivery that provides both technical and economic solutions...This is one of the most exciting new blockchain ventures I have heard about.”

Huffington Post

What’s wrong with live video streaming today?

Live video streaming today is limited by poor quality, sky rocketing data needs for higher resolution streams, and a centralized nature.

How can the Theta Network solve the live video streaming problem?

The Theta Network’s decentralized peer-to-peer video streaming is powered by its Edge Network which relays data, and acts as a data cache. Anyone with a decent laptop can run an edge node and earn $TFUEL for strengthening the video streaming performance.

What does the Theta Protocol Include?

  • Theta layer-1, high performant blockchain governed by Enterprise Validator Nodes and Guardian Nodes. Enterprise Validator Nodes include: Google, Sony, Samsung, and more...
  • Theta Edge Network powered by Edge Nodes around the world relaying decentralized video, data, compute, storage, and other functions Theta peer-to-peer video and data delivery supported by micropayments Ethereum compatible RPC interface for DApp interoperability and ease of migration
  • Cross-chain bridges for Theta blockchain users to interact with other blockchains and DApps on Ethereum, Binance Smart Chain, Polygon, and others

What are Theta’s Native Tokens?

  • $THETA – Performs various governance tasks within the network.
  • $TFUEL – Serves as the utility token in decentralized video and data delivery and acts as a gas token.

What’s exciting and new for Theta?

Theta Mainnet 3.0 successfully launched, and the blockchain is reaching complete implementation. Throughout 2022, there'll be shift away from protocol development to building the ecosystem and increasing adoption. Theta strives to be the leading media and entertainment blockchain with an increased focus on video-on-demand, NFTs, and digital collectibles and will leverage its technology through ThetaDrop- a new NFT marketplace.

Since we’re talking about digital collectibles, read until the end to learn about how you can secure Katy Perry’s first-ever NFT released- exclusive to the Theta Network.

What’s ThetaDrop, and how is it innovative?

ThetaDrop is a next-generation non-fungible token (NFT) marketplace that incorporates live streaming during auctions and NFT drops to increase creator-fan engagement, and tie-ins with live television and cable broadcast to millions of global viewers. Coming February 2022, $TDROP will be introduced as the third token, native to the Theta blockchain, that will be used to incentivize ThetaDrop participants and support decentralized governance of ThetaDrop.

What are the benefits that come w/$TDROPs?

ThetaDrop users who hold a balance of $TDROP will earn VIP benefits including: early or exclusive access to NFTs, limited edition packs, unique offline perks, and more.

What are the metrics for $TDROP?

  • Total Supply – 20,000,000,000 (billion)
  • 30% – Earned by NFT Liquidity Mining on ThetaDrop platform (4-year period)
  • 20% – Staking rewards for decentralized governance (4-year period)
  • 20% – Rewards for THETA validators and guardians including delegated stakers
  • (18-month vesting, 1/6th per quarter)
  • 20% – Theta Labs dev team (18-month vesting, 1/6th per quarter)
  • 10% – Reserve for Theta marketing, advisors, partners (not vested)

What utility does $TDROP provide for holders?

  • NFT liquidity mining – $TDROP tokens will be earned by users each purchase using $TFUEL on ThetaDrop NFT marketplace, or through a 3rd party NFT DApp built on the NFT marketplace smart-contract (Open Theta).
  • More $TFUEL is burned – For every transaction, $TFUEL circulation decreases, and turns into greater $THETA staking rewards and greater Theta Network security.
  • On-Chain Governance – $TDROP will serve as the gov token for ThetaDrop. $TDROP holders can stake their tokens to gain voting rights for proposed changes to ThetaDrop.

Are you ready to roar?!

Get ready for the Roar Package, by Katy Perry, coming 1 P.M. P.S.T. 12/15/2021. This is the first-ever NFT collection by Katy Perry, and it’s exclusively on the Theta Network- that’s a big deal. There are four different NFTs being released, and each have their own traits, level of exclusivity, and perks. Here are the details of the four different NFTs:

  • Katy Perry's Golden Lion (Quantity: 1) – “The real deal. Weighing in at 2200 lbs, with a length of 22 feet and height of 16 feet, it’s the majestic Golden Lion that Katy Perry herself rode during her iconic 2015 performance live broadcasted to 100 million viewers. Redeem this NFT to arrange receipt of real physical golden lion prop.”
  • The Golden Lion (Quantity: 2500) – “An iconic piece of Katy Perry history. Owning this moment will be a critical piece of a future Katy Perry collection that will unlock access to 'The Nostalgia Store'.”
  • Mirror Motivation (Quantity: 2500) – “Sometimes we all need a little extra motivation. Collect this rare behind the scenes look of Katy before going out on stage for her iconic 2015 performance!”
  • Ignite The Light (Quantity: Infinite) – “Riding in on this giant star during her iconic 2015 performance, Katy ignited the sky with a memorable firework show.”

How Do I Participate In ThetaDrop, and Katy Perry’s NFT release?

To sign up for ThetaDrop, learn how to use it and prepare for the release, visit: https://www.thetadrop.com/

What is my strategy for Theta NFTs, and more specifically Katy Perry’s NFTs?

I’m a long term holder, and understand that all these NFT purchases might result in short-term loss and volatility. The Theta Network is barely at its beginning stages in the macro, but I believe mainstream adoption is bound to happen due to their proprietary technology for next generation content delivery. The Theta Network is a brilliantly designed galaxy worth exploring.

Are you struggling to understand and need help setting up your ThetaDrop account, or perhaps you don’t know how to get $TFUEL?

Please join the uModern Discord channel so you can ask these questions directly, and also get access to community chats and information.

To join the uModern Discord, visit: https://discord.gg/deqMMJCb

The purpose of this post is to teach readers about Flare Finance’s $EXFI airdrop to all $SGB holders

Introduction

In October, of 2020, Flare Finance announced their plans to create the first institutional grade decentralized finance platform on top of Flare Networks.

Flare Finance is not Flare Networks. To learn more about Flare Networks, visit:

https://flare.xyz/

Earlier this year, Flare Networks launched what is known as the Songbird Canary Network, and its native token $SGB. The canary network acts as an experimental platform that enables testing and building of applications before launching on the main network- Flare. Due to Flare’s decision to launch Songbird before their main network, it has now become the home to Flare Finance’s “experimental finance” platform.

A canary network can eventually become its own, and outperform the main network itself. For example, Polkadot’s canary network is Kusama. To see the potential of canary networks, visit:

https://coinmarketcap.com/currencies/kusama/

The Airdrop

  • Snapshot: 12/12/21, 10AM PST
  • Airdrop: 12/13/21, or later- TBD
  • Total Distribution: 40,000,000 $EXFI
  • Earnings Ratio: 235.275 $SGB = 1 $EXFI

A Snapshot is a recording at a specific date and time that captures the balance of every address on a ledger. An Airdrop is a distribution of tokens to every address that met the specific requirements for an airdrop.

How To Participate

In order to participate in the $EXFI airdrop, you need to be holding $SGB on a supporting exchange, or a self-custody wallet on the date and time of the snapshot. I don’t have the ability to determine which exchanges are guaranteeing the airdrop, so it’s recommended to hold $SGB on a self-custody wallet.

Steps To Take

  1. Sign up for the Bitrue exchange: https://www.bitrue.com/

  2. Download the BiFrost Wallet mobile app, and create an account: https://bifrostwallet.com/

  3. Deposit $XRP into your Bitrue XRPL account:

  4. Buy $SGB using your $XRP- on Bitrue

  5. Send your $SGB from Bitrue to your BiFrost Wallet:

  6. Congratulate yourself

The Opportunity

These digital assets, like $SGB and $EXFI, are meant to be used rather than held passively. You could still profit from just holding them, but the intelligent investor is going to create a compounding return by participating in decentralized finance protocols- like Flare Finance’s “experimental finance” platform. As of now, prepare for the $EXFI airdrop so that you’re ready to capitalize on your assets when the time comes. Soon, I’ll be posting information about Flare Finance’s decentralized protocols which will explain what they are, why they’re used, and how to create a compounding return.

Subscribe to uModern if you want to stay ahead of the curb, and get notified when updates are made.

Early last month, I learned about Sologenic- a XRPLedger project that’s set on disrupting the trading industry by facilitating investing and trading between not only cryptocurrencies, but also non-blockchain assets. Sologenic’s core business model is to bridge the traditional-market to the decentralized-market, and it’s made possible by their Tokenization Brokerage Solution- or “on-demand” asset tokenization. Asset tokenization is the process where real-world traditional assets, like stocks and commodities, become represented as digital tokens on a blockchain. Using the Sologenic Ecosystem, traders and investors alike will be able to buy and sell stock of their favorite companies with cryptocurrencies without the need for traditional brokerages.

Sologenic is comprised of two teams:

There is sologenic.com, the centralized entity that’s responsible for holding the necessary licenses to provide services such as: SOLONEX, Tokenized Assets Trading, and the SOLO Card.

There is sologenic.org, the decentralized entity that’s responsible for developing the opensource technology behind the Sologenic DEX (Decentralized Exchanged), and the SOLO Decentralized Wallet.

Sologenic Ecosystem

SOLONEX

  • For financial institutions using the XRPL Network.
  • Solutions include: tokenization of different asset classes, fractional trading, 24/7 trading, launching funding rounds, managing liquidity, and managing custodial services.

Sologenic DEX

  • Trade cryptocurrencies with tokenized assets like: stocks, ETFs, and commodities
  • Advanced trading features: market orders and limit orders with options such as time in force policies

SOLO Wallet

  • Decentralized wallet for cryptocurrencies and tokenized assets like: stocks, ETFs, and commodities
  • Built-in Sologenic DEX

SOLO Card

  • Spend cryptocurrencies instantly anywhere in the world
  • Includes benefits like: monthly cashback, airport lounge access, hotel discounts, private events, and many more
  • Card tiers are: black plastic, black metal, black executive metal, and black prestige carbon fiber

The Opportunity

Sologenic has issued their own cryptocurrency, or token in other words, on the XRPL- $SOLO. The $SOLO token is the native currency used throughout the Sologenic Ecosystem for trading and payments. The token has also already been listed on more than five cryptocurrency exchanges globally- which bodes well for its liquidity- and over the past month $SOLO has seen adoption resulting in 500%+ returns for holders.

The opportunity lies in adopting $SOLO, and learning the Sologenic Ecosystem, and XRPL dApps, as soon as possible. In less than a month, on December 24th, Sologenic will be conducting a snapshot of the XRPL for their $SOLO airdrop. Every XRPL account that has an open trustline to $SOLO, and has a balance of $XRP or $SOLO that’s greater than 1, will receive an even percentage of $SOLO during the airdrop. The airdrop will take place on January 20th, and $SOLO will be sent to the XRPL accounts that participated in the snapshot.

This airdrop consists of two pools of $SOLO:

  • 100,000,000 $SOLO has been reserved for $XRP holders
  • 100,000,000 $SOLO has been reserved for $SOLO holders

To calculate how many $SOLO tokens will be distributed to each $XRP holder, we divide 100,000,000 by all the $XRP put up at the time of the snapshot. The resulting number then needs to be multiplied by how many $XRP an individual had in their account, and that’s how many $SOLO they’ll receive.

To calculate how many $SOLO tokens will be distributed to each $SOLO holder, we divide 100,000,000 by all the $SOLO put up at the time of the snapshot. The resulting number then needs to be multiplied by how many $SOLO an individual had in their account, and that’s how many $SOLO they’ll receive.

In the distribution explanation above, it makes perfect sense that the way to maximize how many $SOLO tokens I earn, in this airdrop, is by holding $SOLO for the snapshot. Most people aren’t going to learn how to open a trustline from a self-custody wallet, so they’re going to have to rely on an exchange for the snapshot and airdrop; which means that they most likely won’t have access to $SOLO yet- leaving less people with $SOLO tokens to claim $SOLO. Get it?

Prepare For SOLO

Step-by-Step Directions:

  1. Download XUMM on your mobile phone: https://xumm.app/

  2. Create and activate your XUMM account:

  3. Add your $SOLO trustline (0:00-1:48):

  4. Exchange some $XRP for $SOLO:

  5. Congratulate yourself!

I’m not a financial adviser, nor am I always right, but I believe the $SOLO token will continue to pump in value until we’re close to the airdrop date. Once the airdrop comes, we’re going to see a lot of people selling their free $SOLO tokens for quick cash, and this will cause downward price action. Personally, I’m going to sell a fraction of my tokens a week or two prior to the airdrop, before the late dumpers, to play it safe and secure my profits. I do look forward to holding most of my $SOLO tokens long-term though, and I’ll definitely be staking once that becomes an option.

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Good question. At the moment, I’m sober on Budweiser NFTs, and calmed by a glass of pinot grigio. I was looking forward to securing a “Budverse can” myself, but I wasn’t fortunate enough due to slower internet, and not having any bots. Congratulations to all 1,936 Budverse can holders who can, no pun intended, access many next-level experiences that most of us cannot.

To see the page the NFTs were sold through, visit: https://us.budweiser.com/NFT

The Budverse cans, for the “Heritage Edition” collection, released at 10:00 A.M. P.S.T. 11/29/2020 on the Budweiser website. There were only 1,936 Budverse cans made, but thousands of individuals tried their best to secure one. I compare this NFT release similar to a Travis $cott sneaker release- extremely difficult. The demand was, and still is, overflowing.

To shop the collection, visit: https://opensea.io/collection/budverse-cans-heritage-edition

Budweiser Cans – Heritage Edition

There are two tiers of cans in the Heritage Edition collection- gold and core. “Each can is one of a kind, and generated using archived photos, ads and designs from throughout Budweiser’s storied history.” The gold cans are super rare. Out of all 1,936, the gold cans only account for 36. The core cans are general. The core cans account for 1,900. Still, both tiers, in this collection, have their own wondrous benefits.

Gold Cans

The gold can is the VIP ticket to everything in the Budverse. Not only do the gold cans inherit the core can rewards, but they also unlock hyper-exclusive access. I can only imagine what that means- as I stare off into space inspired.

Core Cans

The core cans are not the VIP ticket to everything in the Budverse, but they still come with valuable rewards, and access to the Budverse in general; which is a big deal.

Budverse And Beyond

The “Budverse and beyond” has just begun. There hasn’t been more information disclosed or further details explaining planned experiences, but from what I’ve seen, the Budverse cans are glorious and powerful. I can’t wait for Budweiser to make new announcements so that I can learn and report about it. I’m going to try my hardest to secure a can in the aftermarket because these aren’t just ordinary NFTs, or beers. Believe it or not, Budweiser is leading the pack in brand awareness, sales, and innovation.

You must be 21+ to participate in the Budverse, and remember to drink responsibly!

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If you’re not familiar with NFTs and their recent hype, then that’s okay. Do not FOMO- please. The blockchain and cryptocurrency revolution is still young and the potential for growth is understated. I, myself, am new to all of this as well.

An NFT is a Non-Fungible-Token, a unique token or object, that lives on a blockchain. This token, or object, can represent anything like a: video game object, digital or physical painting, physical house, and even a real human identity.

Historically, most NFT activity has happened on the Ethereum blockchain, but as of recently we’ve seen incredible waves of people embracing other blockchains as an alternative. The reason for this is that Ethereum’s blockchain is far too costly to operate for the average individual, and the speed of operations are far too slow for large enterprises.

Here and now, there are newly adopted blockchains that are catching fire and spreading fast because of their scalability and features. This brings us the opportunity to capitalize, profit, and be rewarded as early birds to many of the wonderful and thriving communities surrounding these blockchains. Let’s look at a specific blockchain today- the Flare Networks- and a bright NFT project being built on-top of it- Sparkles.

Please read this article that thoroughly explains commonly misunderstood terms in the blockchain dictionary.

https://bisontrails.co/networks-protocols-tokens-coins/

Flare Networks utilizes the Ethereum Virtual Machine (EVM) and a proprietary Federated Byzantine Agreement (FBA) adapted Avalanche consensus protocol ultimately known as the Flare consensus protocol. We’re not going to get caught up in what all this means, but it’s enough to understand that the Flare blockchain can scale exponentially more than the Ethereum blockchain. Plus, the fact that Flare utilizes the EVM means that there’s a great migration, of dApps from Ethereum to Flare, amongst us.

A dApp is a decentralized application enabled by smart-contracts. Smart-contracts are programs that operate autonomously on a blockchain.

It’s been eight weeks since Flare Networks deployed their live test network “Songbird”. The Songbird Network will allow the Flare dApp community to trial a rich set of features that may other wise be too risky for the main dApp on the Flare Networks itself. This boosts safety, security, and predictability of the dApps on the main network- Flare- while fostering innovation on the secondary network- Songbird.

Sparkles has the “idea to create a self-maintained community with an active marketplace for NFTs, with a vision to become a fully decentralized autonomous organization (DAO)”. We will go over what this means, but let’s take into consideration the strides Sparkles have made at the end of this year. Sept, Oct, and Nov have, in my opinion, been optimistic for Sparkles. In Sept, they partnered with a multi-blockchain based Virtual Reality project called “NetVRk”; which has plans to play a large role in the metaverse. In Oct, they partnered with the charity organizer GiveWell; which guarantees that any money Sparkles raises for donation gets allocated properly for maximum results. In Nov, this month, they joined the Crypto Climate Accord- alongside unicorn company Ripple- to fight the good fight against pollution and global warming.

An NFT marketplace is where buyers, sellers, and creators go to buy, sell, and mint NFTs. Minting an NFT is the process of connecting a wallet to a blockchain, and running a smart-contract that generates a NFT on the blockchain, and then transfers it to the connected wallet. A decentralized autonomous organization is an organization that’s democratically governed by peers, and operates without the need for any human interference when live.

Projects that want to join the Flare dApp community are not hesitating to build on Songbird. Sparkles conducted the one of the first-ever NFT minting on the Songbird network just yesterday, and all 9,999 NFTs sold out. The NFT project is the original creation of Sparkles themselves, and it’s under the title “Songbird Canary Project”. Each NFT represents a unique $BIRD that falls within the scale of more rare and less rare depending on the attributes it was minted with. I managed to mint one of the last $BIRDs, for the cost of 350 $SGB, that falls on the less rare side of the spectrum, but I’m still happy with it. The artwork quality behind each $BIRDs attributes is truly awesome. Of course, beyond the great artwork lies the utility underpinning these NFTs. Not only did each $BIRD plant a tree, the $BIRDs will also be keys to exclusive features like: first-access to future developments, reserved assets, and perhaps governance. Here’s an image of my authentic $BIRD.

The minting was made dead simple through the BiFrost IOS application, and the Sparkles minting website. The BiFrost IOS wallet application has a native web3 browser built into it that enables anyone to access dApps- like the Sparkles minting website. I’ll be releasing more information on BiFrost and its powerful functionality soon, but it’s enough to know that BiFrost is a Flare and Songbird native wallet.

As a $BIRD holder, I’m eager to see the Sparkles community grow and flourish into what I know it can be- an open, frictionless, and cost effective NFT marketplace for us all that serves as an alternative to centralized marketplaces like: OpenSea, Mintable, Rarible, and others. As the marketplace evolves into a DAO, I plan on seizing any opportunity I can to play a role in governance and stewardship. Currently, the Sparkles marketplace has not been deployed. As soon as the marketplace is open for the public though, we should see a swarm of participants flooding in from many different blockchains in order experience something new, and potentially better that what they’re used to.

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