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FTSO matters


BillyOckham
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  • 2 weeks later...
1 hour ago, FTSO_AU said:

Here’s a sample of the data we’re sending to the FTSO. 

 


Thanks for that.  Firming up my limited understanding.

 

Can I ask please,  do you intend to allow re-investing of rewards?  In other words, I’ve delegated to you and now I’m entitled to 5 FLR.  Instead of claiming that I wish to have the amount added to my delegation amount. Compounding my rewards over time.

It would be great if you accomodate that automatically rather than me manually having to do it.

Also that raises a question….   as the delegated amounts grow the reward percentage per FLR delegated will reduce.  Is there going to be any limit to delegation amount?

Lastly, and thanks for any light you shed on any of this,  have you guys considered offering a comparison on your site between the various providers?

Uptime, reward capture percentage, fee cost ect across all the providers?  
 

That might make your site stand out among others if offered and therefore perhaps capture more delegates.

Which makes me wonder if you are incentivised to get more delegation FLR or doesn’t that factor into your fees or other rewards(?).

Thanks for your continued engagement here.  It’s much appreciated.

 

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Hi @BillyOckham

2 hours ago, BillyOckham said:

Can I ask please,  do you intend to allow re-investing of rewards?  In other words, I’ve delegated to you and now I’m entitled to 5 FLR.  Instead of claiming that I wish to have the amount added to my delegation amount. Compounding my rewards over time.

It would be great if you accomodate that automatically rather than me manually having to do it.

The current mechanism offered, is a user will need to claim the rewards owed. This is currently handled by the FTSO, not us. There may be a limitation set on how many times you can claim, it could be once a day. There are still some unknowns surrounding this.

2 hours ago, BillyOckham said:

Also that raises a question….   as the delegated amounts grow the reward percentage per FLR delegated will reduce.  Is there going to be any limit to delegation amount?

I don't understand the question, but you won't be limited by us as to how many FLR you can delegate. Does that answer your question? It's unlikely any one Signal Provider will reach the "cap" of votes they're allowed to delegate, so we won't need too limit our users.

3 hours ago, BillyOckham said:

Lastly, and thanks for any light you shed on any of this,  have you guys considered offering a comparison on your site between the various providers?

Uptime, reward capture percentage, fee cost ect across all the providers?  

We won't be running a comparison, but I'm sure that an independent party will. There'll certainly be a demand for this information in one place, from an unbiased source. We're confident our service will stand out enough without the need to compare to others. We'll certainly be sharing OUR data though, win rate % and anything else that''s relevant.

 

3 hours ago, BillyOckham said:

Which makes me wonder if you are incentivised to get more delegation FLR or doesn’t that factor into your fees or other rewards(?).

It's in our favour to have as large a pool of delegated votes allocated to us as possible, it will increase our chances of having our pricing accepted by the FTSO.

We're 100% commission based, if our pricing doesn't get accepted, we don't get paid!

 We'll be doing everything we can to ensure maximum successful pricing submissions.

3 hours ago, BillyOckham said:

Thanks for your continued engagement here.  It’s much appreciated.

My pleasure, it's all part of our service.

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22 minutes ago, FTSO_AU said:

It's in our favour to have as large a pool of delegated votes allocated to us as possible, it will increase our chances of having our pricing accepted by the FTSO.

We're 100% commission based, if our pricing doesn't get accepted, we don't get paid!

Ah…. I was unaware that the size of your votes is one factor in the algorithm to decide rewards.  Interesting.  
 

Thanks for all those answers.  Much obliged.

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11 minutes ago, FTSO_AU said:

It’s referred to as Voting Power. There’s more info on it here (I won’t copy and paste it all)  … https://flare.xyz/ftso-a-breakdown/

Ok that’s the second time I have read that,  and this time I doubled my understanding.  :JC_doubleup:      So now I understand 2%    :) 

 

I look forward to trialling all this with the Songbird tokens.

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@FTSO_AU if you have the time and inclination, (and it’s understandable if you don’t,) are you able to explain why Flare want to put a ProofOfStake -like aspect to the time series?

 

I would have thought historical consensus, accuracy and consistency would have been better attributes to use to winnow the supplicants.  Like how does being bigger guarantee accuracy over previous consistency?

I realise you may not know since it’s Flare that decided that,  but perhaps your involvement gives you insight?

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11 hours ago, BillyOckham said:

@FTSO_AU if you have the time and inclination, (and it’s understandable if you don’t,) are you able to explain why Flare want to put a ProofOfStake -like aspect to the time series?

You don't want some entity creating thousands of oracles, each with only 1 FLR behind them, all submitting quotes. This would allow someone to skew the distribution dramatically. Weighting thee votes by the number of FLR behind them helps to ensure that a bad actor can't distort the feeds.

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1 hour ago, jbjnr said:

You don't want some entity creating thousands of oracles, each with only 1 FLR behind them, all submitting quotes. This would allow someone to skew the distribution dramatically. Weighting thee votes by the number of FLR behind them helps to ensure that a bad actor can't distort the feeds.

Excellent and obvious in hindsight point.  Thanks very much for taking the time to explain it to me.  I’m feeling a bit embarrassed but that’s normal for me.   :) 

Since I have you here….  can I commend you on a long history of being bloody helpful to everyone you cross paths with.  Respect dude.

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On 8/19/2021 at 2:42 PM, BillyOckham said:

Can I ask please,  do you intend to allow re-investing of rewards?  In other words, I’ve delegated to you and now I’m entitled to 5 FLR.  Instead of claiming that I wish to have the amount added to my delegation amount. Compounding my rewards over time.

It would be great if you accomodate that automatically rather than me manually having to do it.

I believe I've heard someone say that in the Bifrost wallet you will be able to set your FLR delegation percentage for your three signal providers, and that this will automatically apply to any new FLR you put in. For example say you have 100 FLR going to three signal providers at 30%, 30%, and 40% respectively. Obviously that's 30, 30, and 40 FLR. Then you put another 100 FLR in that wallet. The percentage will be maintained and you will automatically delegate 30, 30, and 40 more FLR to those providers. 

So say you claim your FTSO rewards, the FLR go direct to your wallet, and your wallet automatically delegates them. The only thing you need to do manually is the claim. 

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