List of FTSO signal providers plus fees, voting power etc by Flare Metrics

[Seoulite]

Very good website, one stop shop for info about signal providers

https://flaremetrics.io/ftso

[brianwalden]

Interesting. So 20% seems to be the standard fee for now. Who verifies data providers in a decentralized network?

[jbjnr]

6 minutes ago, brianwalden said:

Interesting. So 20% seems to be the standard fee for now.

Signal Providers appear to be forming a cartel and price fixing to an agreed standard.

If only there was a regulatory body that could step in, sue them all and force them to obey free market economics. We're only on day 1 and already the rules and common decency are being flagrantly violated!

[ftso_au]

12 minutes ago, brianwalden said:

Interesting. So 20% seems to be the standard fee for now. Who verifies data providers in a decentralized network?

The fee is a default set by Flare and at this stage everyone's adopted it. At this stage you need to be whitelisted by Flare too submit prices, that could be open to change in the future, but that's how the network will be launched.

[ftso_au]

1 minute ago, jbjnr said:

Signal Providers appear to be forming a cartel and price fixing to an agreed standard.

Not at all, it's a default In the Flare Networks FTSO contracts. The contracts are publicly available, check them out. Seemed like the obvious thing to do, stick with what was set and adjust as required.

[jbjnr]

1 minute ago, FTSO_AU said:

Not at all, it's a default In the Flare Networks FTSO contracts. The contracts are publicly available, check them out. Seemed like the obvious thing to do, stick with what was set and adjust as required.

I hope you could tell I was being tongue in cheek! However, you could get more votes if you lowered your fee to 19% ....and so on

[brianwalden]

Just now, FTSO_AU said:

Not at all, it's a default In the Flare Networks FTSO contracts. The contracts are publicly available, check them out. Seemed like the obvious thing to do, stick with what was set and adjust as required.

Yeah, I hope that was satire by @jbjnr.

His points are valid in a mature network, but you've got to start from somewhere.

[Live4xrp]

55 minutes ago, Seoulite said:

Very good website, one stop shop for info about signal providers

https://flaremetrics.io/ftso

Question… What is The nature of the fee?… Wrapped SGB and later on wrapped FLR?

[brianwalden]

Just now, jbjnr said:

I hope you could tell I was being tongue in cheek! However, you could get more votes if you lowered your fee to 19% ....and so on

Yeah I'm sure they'll come down once things launch and get stabilized and data providers will have an idea of both what their expenses and rewards are.

I would like to see Flare remove itself from verifying providers as soon as it becomes feasible to do so. Flare has described the FTSO as the beating heart of the network. You can't have a single centralized entity sitting on top of that and choosing who gets to be a provider. Knowing Flare, I'm sure they already have a plan.

[brianwalden]

5 minutes ago, Live4xrp said:

Question… What is The nature of the fee?… Wrapped SGB and later on wrapped FLR?

I think it just comes out of the rewards. So when they earn a reward for providing good prices, they take 20% off the top. Then the remaining 80% gets distributed to the people delegating votes to them.

[BillyOckham]

47 minutes ago, brianwalden said:

Then the remaining 80% gets distributed to the people delegating votes to them.

Can they reward good looking people like me more than the others?  Only seems fair…

 

[Guest]

1 hour ago, Live4xrp said:

Question… What is The nature of the fee?… Wrapped SGB and later on wrapped FLR?

SGB on Songbird and FLR on Flare. 

[Guest]

56 minutes ago, brianwalden said:

I think it just comes out of the rewards. So when they earn a reward for providing good prices, they take 20% off the top. Then the remaining 80% gets distributed to the people delegating votes to them.

I'm sure they all started off with 20% because they're trying to figure out how much it costs to maintain the infrastructure etc. Once SGB/FLR price fluctuations go down, these numbers will change.

[Guest]

28 minutes ago, BillyOckham said:

Can they reward good looking people like me more than the others?  Only seems fair…

 

As of right now, a little more than 32M votes have been delegated across all providers. That's not much. About 0.3% of the total supply. Given that this only opened up yesterday, it is pretty good IMO. I expect more people to participate once the rewards start showing up and especially once price discovery starts with Bitrue on the 27th.

Here's something fun to think about. ~32M delegated votes essentially mean that ~32M SGB have been locked and aren't going to be available for trading. S-Assets don't have the benefit of earning rewards for simply mining them, but F-Assets do. 

I'm keen to see what happens to the price once Flare Finance and Probity are available. Probity, especially, will be issuing AUR on the XRPL, so that's actual money.

[brianwalden]

3 minutes ago, Ripley said:

As of right now, a little more than 32M votes have been delegated across all providers. That's not much. About 0.3% of the total supply. Given that this only opened up yesterday, it is pretty good IMO. I expect more people to participate once the rewards start showing up and especially once price discovery starts with Bitrue on the 27th.

Here's something fun to think about. ~32M delegated votes essentially mean that ~32M SGB have been locked and aren't going to be available for trading. S-Assets don't have the benefit of earning rewards for simply mining them, but F-Assets do. 

I'm keen to see what happens to the price once Flare Finance and Probity are available. Probity, especially, will be issuing AUR on the XRPL, so that's actual money.

They're off the trading market for now, but they're not really locked. But yeah, I suspect that Songbird will have a proportionally low number of voters because unfortunately many people won't receive the airdrop, and it's just difficult - I would guess that the majority of people in crypto are just used to using exchanges and not DeFi. But that means that the rewards should be high, hopefully easily beating the 10% annual inflation. That will hopefully keep the holders holding and effectively remove their tokens from the circulating supply.