What Is Gatehub (SGB)?
Gatehub SGB is a token released on the XRP ledger by Gatehub, its value securely tied to Songbird (SGB). Songbird (SGB) functions as a utility token and operates as the Canary Network of the Flare Network. The Flare Network represents an innovative smart contract platform that seamlessly integrates with both the XRP Ledger and Ethereum, delivering smart contract capabilities and DeFi functionalities to the XRP ecosystem. In essence, Songbird serves as a testing ground for the Flare Network's features and functionalities, allowing developers and users to rigorously test new aspects and ensure their stability before they are rolled out on the main network. Moreover, SGB holds utility for staking, governance, and liquidity provision within the Flare Network. The inception of the Songbird Network can be attributed to its creator, Hugo Philion.
Additionally, it's important to mention that Songbird serves as the canary network for Flare, a blockchain designed for universal connectivity. Flare introduces groundbreaking interoperability innovations, such as the State Connector, which significantly enhances bridging capabilities, fosters full cross-chain composability, and seamlessly integrates Web2 data in a decentralized manner. This development enables Flare to reach consensus on external data sources, thereby solving the oracle problem and opening the door to a new era of utility.
Flare's rapid, decentralized, and fully-insured bridges facilitate multilateral connections among smart contract chains, unifying liquidity rather than fragmenting it. Furthermore, Flare empowers non-smart contract assets like BTC, XRP, and DOGE to participate in DeFi and generate yields. Decentralized applications gain access to the value, liquidity, and data from multiple blockchains while seamlessly interfacing with Web2 data through a single deployment on Flare. Flare stands as a uniting force in the blockchain landscape, scaling Web3 for the next generation with native interoperability protocols characterized by high throughput, low fees, and minimal environmental impact. It ultimately aims to connect everything in the blockchain ecosystem.
Gatehub SGB is a pegged issuance of the original Songbird Network. Issuances, like Gatehub SGB, are tokens that can be redeemed for a fungible asset, such as USD, EUR, GBP, gold, or cryptocurrencies, on their native networks.
Although anyone can issue a crypto asset, it's essential for individuals or organizations to trust that the issuer can redeem it for the underlying asset if they want to accept payment in that asset. GateHub is one such organization that has gained the trust of its users.
Gatehub SGB and other XRPL tokens that are pegged provide a valuable means of gaining exposure to the asset, as well as a decentralized blockchain-based tool for the transfer of value.
Who Are the Founders of Gatehub?
Enej Pungerčar is the founder and CEO of Gatehub. GateHub is a platform for the Internet of Value, built on XRP Ledger protocol. It allows everyone to send, receive, trade and manage any type of assets.
What Makes Gatehub Unique?
Gatehub is a decentralized exchange running on top of the XRP ledger that offers various innovative features, including wallet protection and stablecoin issuance. Its user-friendly interface is easy to understand, enabling users to send money through email and even international wire transfers.
The Gatehub wallet provides support for not only XRP and over 100+ XRPL IOU tokens but also has multi-currency capabilities, enabling users to send and receive payments from any supported network. With the ability to instantly exchange assets using the best rates provided by multiple sources, Gatehub ensures the best possible exchange for its users.
Wallet Protect is a service provided by GateHub, a cryptocurrency wallet and exchange platform. It is a yearly paid subscription that provides protection for cryptocurrency stored in a user's wallet by making the wallet a "multisignature" or "multisig" wallet. Transactions are signed by multiple keys, increasing security and allowing for easy recovery in case of emergency. Wallet Protect also includes Fraud Shield, which scans destination addresses through fraud checks to help prevent losses of funds, and Theft Cover provided by Coincover, which provides up to $100k of coverage in case of theft. Wallet Protect users also receive a personalized certificate confirming their coverage level and protection.
Gatehub Transfer Fee
Gatehub's current policy on SGB tokens on the XRP ledger includes a transfer fee of 0.3%. This indicates that whenever SGB tokens are moved on the XRPL, a fee of 0.3% is charged on the transferred amount.
Read more about: Gatehub
Learn more about: Gatehub Ecosystem.
How Many Gatehub SGB Are There in Circulation?
There is an initial maximum supply of 36,341,472.09 SGB tokens, of which an estimated 35,343,307.56 SGB are currently in circulation as of March 2023. Check out Gatehub.net to learn more.
Where Can You Buy Gatehub SGB?
Gatehub SGB is a token trading on the XRP ledger DEX, the most straight forward way to acquire SGB tokens would be to purchase them through XRPL DEX.
If you are looking for alternative exchanges where you can purchase Gatehub SGB, Bitrue is a good choice. Keep in mind that investing in cryptocurrency can be risky, just like investing in any other type of asset.
How to stay tuned for further updates?
If you wish to receive more updates about the Gatehub ecosystem and any upcoming events, we suggest you follow @GateHub on Twitter.