1/ The FTSO Monitor obtains its data from @TowoLabs's repo. @BifrostWallet's vetting process of the providers and the subsequent approval of "Listed" providers vs "Unlisted" have helped deter delegations away from providers who have not proved their submissions authenticity. 2/ Looking at the "Listed" providers:
Avg. top 10 delegations by vote power for the active reward epoch (53) = 2.648%
Avg. top 10 delegations by VP by current delegations = 2.952% (recorded at time of this thread)
We can see the top providers by RR remain overdelegated.
Aim of Study:
To obtain insights and feedback from the FTSO provider community regarding proposition of a Community driven index that could be weighted on several factors.
Background/Methodology:
- Respondents received the survey through DM + FTSO Telegram channel
- Anonymous responses were collected over the last ~ 5 days.
- Additional responses may populate in next few days
- Assume each Provider team responds only once
Jan 24, 2023 • 13 tweets • 5 min read
Thanks for clarifying for Community. I'd like to add that the Flare Community largely needs to pick up our game
Delegating is not enough.
For the network to succeed we must revitalise our FTSO system, and truly support those who are building great products in our ecosystem.
@KingsmanxToadz's recent AMA was a great turnout that encouraged great discussions on all fronts, especially the interrogating from @OZCRYPTO2. This is all very valuable to Community.
I've been thinking a lot about the network's FTSO system. While the FTSO pricing outputs remain robust and there has not been any meaningful centralisation of vote power, there remains many issues that should be brought to light for Community.
The system can do better 👇
2/ The FTSO provides decentralised pricing data to the network through the services of FTSO data providers. For data providers to perform well and earn rewards they need to submit price data within an accuracy range of the FTSO output price. Output price is weighted by vote power
1/ The numbers look right. At the moment as of TDE, Flare related entities do control majority of eligible votes. This is why FIP01 will most certainly pass, as it should.. 👇
2/ At the onset of a network, it is most vulnerable. The community (token holders) may not represent the network’s best interest. Especially in the case of FLR being airdropped to the XRP community, yet Flare is aiming to serve the broader cross-chain ecosystem and beyond.
Jan 4, 2023 • 10 tweets • 2 min read
Important information regarding @FlareNetworks TDE and FIP01 voting:
I was discussing with @AussieWayne2 regarding FIP triggering/voting.
Have come to a new understanding 👇
"[FIP] Vote will take place when 66% of the initial tokens that are eligible to vote are in the hands of their intended recipients and can be used to vote"
The total FLR eligible for voting at TDE is 8.55B
So 66% = 5.645B.
Dec 28, 2022 • 33 tweets • 5 min read
Some of my thoughts on Flare's design:
Vote power --> data provisioning + governance --> prices and states --> a new DeFi for retail and institutions
Otherwise, a long thread 👇
1/n
It begins with the FTSO. This decentralised oracle network is rewarded most via the network’s native inflation. Its role is not limited to providing decentralised price feeds to dApps on Flare and other chains.
Oct 27, 2022 • 25 tweets • 7 min read
Some thoughts and explanations on @FlareNetworks novel and decentralised governance structure involving use of #Songbird network with interesting game theory mechanics:
The Flare network is organised as an open ecosystem of #dApp providers, infrastructure providers (#FTSO, #Validators, #APs) and its #Citizens (FLR holders) all interacting through the network’s pre-defined contract logic.
Sep 27, 2022 • 15 tweets • 4 min read
Really looking forward to reading the details of @FlareNetworks's F-Asset system.☀️
Especially eager to see how community $FLR holders would act as Agents by putting up $FLR collateral in the system to EARN.
This is an incredible DeFi model.
I break down some numbers 👇
There are two types of entities in the F-Asset system: Agents and Minters.
Briefly, Agents put up $FLR collateral to allow Minters to transform their underlying assets (XRP, BTC, DOGE etc) into the F- equivalents.
Both entities have their own cost/reward model..
Aug 25, 2022 • 13 tweets • 2 min read
While some entitled FLR claimants obsess over tokens (😢), here's a concise summary of sequential events that Flare citizens (☀️ ) should keep in mind
Timeline 🧵👇
1. Flare network leaves observation mode, < 33% validation from Flare team = Decentralised.
2. Receive all 15% FLR claim and/or Purchase $FLR from exchanges.
3. Wrap and delegate FLR for FTSO rewards. Compound every 3.5 days.
Aug 23, 2022 • 7 tweets • 2 min read
Recap of some highlights for the Flare Network:
✅ Novel L1 blockchain with unique consensus layer of its core protocols
✅ Airdrop supported by over 100 exchanges
✅ Strong core engineering team
✅ Diverse range of ecosystem investors
✅ Successful canary network live
1/ New fast and scalable L1 smart contracts blockchain with two built-in decentralised oracle systems for reading state and price.
Entities become validators based on meritocracy
Decentralised network at point of token distribution. Team has worked with securities lawyer Day 1
Aug 16, 2022 • 23 tweets • 4 min read
Flare as a network for its citizens: ☀️
How I see Flare - explained in really, really simple terms
👇 🧵 Fun thread, good read
You own some $FLR. You're a citizen in this country. The country imports and exports asset prices as one of its core activities. As a citizen, you can import accurate prices yourself or you may pass this role onto independent price providers.
Jul 26, 2022 • 7 tweets • 1 min read
Now that the Flare community understands how the distribution model will take place after the proposal passes and how to capitalise on receiving maximal monthly distributions, I’m going to shift gears to F-Asset system and how this would impact further distributions 👇🏻
Recap: Assuming proposal passes, each monthly distribution thereafter is based on how much vote power (wFLR) you have via delegating to FTSO, relative to other delegators. This will distribute a proportionate amount of FLR for the next month
Jul 15, 2022 • 8 tweets • 1 min read
Initial strategies on how to maximise FLR rewards and distribution:
☀️☀️☀️☀️☀️☀️☀️☀️☀️☀️☀️☀️☀️☀️
600M FLR released per month from the distribution pools. (22B/36months)
Keep in mind that everyone's monthly distribution is dynamic. It is NOT fixed. If your relative vote power each month increases or decreases then you would earn more or less than your initial 2.37% per month.
Jun 28, 2022 • 12 tweets • 2 min read
Flare Launch - Roadmap Speculation 🔥
Witnessing the launch of a fully decentralised, community governed smart contracts Layer-1 with low-risk, high yield designed into the system.
All lights are green for Flare as we approach the next wave in crypto👇🧵
0. Genesis mainnet launch. Tokenomics paper released on inflation, rewards etc. Educational source on how to submit and pass proposals
1. Foundation validators reduce to 33%, the majority of good FTSO data providers (Vote power, Reward rate) become validators for the network.
2/ Looking at the "Listed" providers:
