HT Markets has expanded staking support for Songbird, the Canary network for Flare. Financial institutions and organizations holding the network’s native token - SGB - can delegate their voting power to HT Markets and claim rewards by staking from their Hex Safe account.
HT Markets also offers auto-compounding, a first-of-its-kind offering through its staking wallet service; a feature that automatically claims and re-stakes rewards each epoch.
Songbird is the Canary network for Flare, a blockchain built for universal connectivity. A Canary network is an operational blockchain with a defined token supply intended to be used to test features for a related mainnet. With Songbird, developers can test decentralized applications before deploying them to the Flare network, and enable bridging of blockchains in a secure and decentralized way.
Songbird has two different phases: Flare network’s pre-launch and post-launch. Pre-launch, Songbird will help Flare network test the FTSO (Flare Time Series ORacle), FAsset system, and network architecture. Post-launch, Songbird will be the long-term network for testing governance-related changes to Flare.
The Hex Trust Group is the leading fully licensed and insured provider of bank-grade custody and associated services for digital assets in Asia. Led by veteran banking technologists and award-winning financial services experts, the Hex Trust Group has built Hex Safe, a proprietary bank-grade platform that delivers custody, DeFi, brokerage, and financing solutions for financial institutions, digital asset organizations, corporations and private clients. The Hex Trust Group has offices in Singapore, Hong Kong, Dubai, Italy, and Vietnam.