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What Apps Would You Like To See On Songbird/Flare?


brianwalden
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This thread is for brainstorming. I've been thinking of things that could be built on Flare. You don't have to be original. If you saw something somewhere else that you'd like to see on Flare, that's fine. Bonus points for ideas that use Flare's unique capabilities.

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25 minutes ago, brianwalden said:

This thread is for brainstorming. I've been thinking of things that could be built on Flare. You don't have to be original. If you saw something somewhere else that you'd like to see on Flare, that's fine. Bonus points for ideas that use Flare's unique capabilities.

I’d love to see a tax reporting application. Flare has enough stuff happening around it that I think there’s value in building something that’s Flare specific. I’m happy to collaborate/code if necessary.

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Liquid FTSO delegation!

The smart contact sets up a pool for each data provider. You put your SGB/WSGB into the pool for the provider(s) you want and you get tokens in return representing your share of the pool. The pool automatically claims and rewraps the rewards so that the value of your tokens grows over time.

The next step is to make the tokens swappable. You want to switch your delegation? Just trade your tokens for the tokens for the provider you want. You want to delegate to more than two providers? No problem, buy as many different tokens as you want. No more having to keep track of the epoch and voting locks.

If you really want to take it to the next level you could split the pool tokens into their underlying principle and yield and figure out ways to do interesting things with them. But that type of crazy derivatives stuff is too much for my tiny ape brain, but I bet Hugo would have ideas.

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I’d love to see time-bound NFTs. Because then you could sell hotel reservations, or tickets, etc. 😈

PS: I think this is inevitable and I personally might want to see it on XRPL instead, because I’m biased :)

Edited by Ripley
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11 minutes ago, Ripley said:

I’d love to see a tax reporting application. Flare has enough stuff happening around it that I think there’s value in building something that’s Flare specific. I’m happy to collaborate/code if necessary.

Yes, this is much needed.

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Bridge everything!

Use Flare to trustlessly issue F-assets on the XRPL. I believe Flare out an example of how this can be done. The same thing can be done to issue F-assets on Stellar and Algorand. Basically get FLR, SGB, and every F-asset on on every multi-currency ledger that's in the Flare system.

I think you'll see interesting results from doing this. You'll be able to use the various ledgers for their strengths. The XRPL or Stellar, for example, might become a place for trading. Algorand might open up the tokens in the system to be used in various apps that aren't available in Flare.

The state connector system can supposedly monitor anything that happens on network. We could figure out a way to bridge USDC on Stellar, or any of the tokens on Algorand. It probably wouldn't be as trustless, but crossing networks is still one of the biggest pain points in crypto, people would use it.

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F-asset Minting maximizer!

It may be possible to front run the F-asset minting liquidations if the liquidation program runs slower than than we can get pricing data. This means a smart contract could collect WSGB and use it to mint the maximum amount of FXRP, for example. It could constantly adjust the balances as the prices change to keep they maximum minted without being liquidated. It can then collect voting rewards from the WSGB and the F-asset rewards from get minted F-asset and compound them back into the pool.

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Pooled Everything!

Don't let the tech savvy guys get all the rewards.

A smart contract that acts as an agent using pooled funds. Agents may already be planning on accepting funds from users, which might make this moot.

A pooled arbitrage fund. People put their funds in and it does arbitrage among all the F-assets.

A pooled agent liquidator. This thing liquidates all the agents whose LTV ratio gets to high.

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Decentralized crypto index funds. Currently there are 11 token prices in the FTSO. Having a contract that tracks the value of some or all of these could be child’s play. It could also be dynamic, algorithmically moving to the best performers of the day or week and removing the weak performers.

Edited by Seoulite
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A true world currency. Theoretically the FTSO price signals could one day expand to include all floating currencies. A token could then be created that represents this value, which could be weighted dynamically according to each country’s share of global GDP or any criteria really. It could be called world coin or value coin or reserve coin or coin coin. Such a token would bypass most of the geopolitical currency concerns and the value would theoretically be backed by every central bank in the world.

In a similar way, crypto coin could be created. An amalgam of every crypto, secured by every crypto node on every network through the state connector. It could be called ultima coin or Armageddon coin or simply The Coin.

Edited by Seoulite
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I've seen some interesting examples of people tokenizing property and then delivering the rents and eventual capital appreciation if the property is sold to the token holders. It requires trust in the teams selecting the property and I don't know that they have set up a mechanism by which the rental payments are made directly via a token such that the cash movement side could be fully tokenized. However, it would be hugely valuable to open up ways for people without sufficient funds to purchase a house to easily take part in the rental income market. In theory, REITs give you some of that exposure, but they seem much more volatile in their behavior and are not very satisfactory in my view as a fixed income vehicle.

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