🪂Tokenomics and Airdrop Structure

20,000,000 FRB Total Supply

Unlike on Songbird, FRB will have an initial total supply of 20,000,000. The supply can be increased at a later stage if passed by governance voting and is minted directly to the DAO contract.

2,000,000 Burn to Mint

Burn to mint event will occur on Songbird where coin holders (Bronze, Silver and Gold) will be able to burn CRB for a percentage of the FRB airdrop.

• 300K $CRB burnable for each Canary Bronze NFT

• 600K $CRB burnable for each Canary Silver NFT

• 900K $CRB burnable for each Canary Gold NFT

• You can only burn once (as otherwise you could simply transfer the NFT to another wallet and burn again)

This system rewards coin holders and ensures a fair launch. In order to prevent large price swings on initial liquidity and long term dumping of FRB, two safeguards have been implemented:

• Airdrop will be claimable over a multi-year period, where a percentage of the total amount can be claimed every month

• The claimable amount depends on the staked amount of FRB. In order to claim the full airdrop, FRB should be paired with SFLR and staked within the harvesting contract

Worked Example assuming Total airdrop amount: 100,000 $FRB

User 1 claims 3,000 FRB in month 1

• User 1 sells 1500 FRB and pools 1500 FRB with SFLR and stakes this amount = Claimable amount month 2: 1500

User 2 claims 3000 FRB in month 1

• User 2 pairs 3000 FRB with SFLR and stakes this amount = Claimable amount month 2: 3000

User 3 claims 3000 FRB in month 1

• User 3 sells 3000 FRB = Claimable amount month 2: 0

The claimable amount for users 2 & 3 are not forfeit and can still be claimed upon pairing the withdrawn amount of FRB with SFLR and staking it.

These safeguards will provide additional price stability at launch, increase liquidity and rewards participants which are beneficial to the ecosystem.

400,000 Initial Liquidity

A total of 400,000 will be minted and provided as liquidity, paired with SFLR from founders to provide initial liquidity. These LP tokens will subsequently be locked (not burned) in the DAO smart contract that is controlled by the NFT holders. Depending on the price of FRB and the amount of CRB that is burned, a smaller amount could be used to provide a higher starting price. Any remaining FRB will be burned.

4,000,000 Songbird Farm

Songbird participants will be able to pair CRB with WSGB and stake to farm 4,000,000 FRB. FRB farmed on Songbird will follow the same principle as the burn to mint and be allocated to the same airdrop contract. This means that a percentage of the amount is claimable each month, proportionate to the amount of FRB that has been withdrawn and staked. This system drives to reward Songbird participants, whilst minimizing any price impact on Flare due to the staking requirement.

8,000,000 FRB/SFLR Farm

The large majority of FRB will be harvested by those staking SFLR/FRB LP tokens in the farm contract. Harvesting is a daily manual activity, rewarding active participants. In addition to rewarding FRB, it will also provide Harvest Points (HP) that are required to mint the Reborn NFT collection.

5,600,000 Future Utility (F-Assets)

A large amount of supply has been left unallocated and will be sent to the DAO contract, to be managed by the community. This amount can be allocated to future products or utility (such as F-Asset incentivisation).