Delegator Rewards Video: Sundara slashes fee from 20% to 2%. Beginning of the fee race to the bottom?

[Seoulite]

Interesting video from Flare Community. He also discusses the effect of the 10% cap. Didn't notice that Sundara has slashed its fee. Are we about to see a race to the bottom in fees? I think not right now, because the difference in rewards rates are still large. If Sundara moved up the list to around 70 or 80% of the A-FTSO reward, then it suddenly looks like a much better proposition. 

 

 

[ftso_au]

1 minute ago, Seoulite said:

Are we about to see a race to the bottom in fees?

Interestingly if you check the contracts, 5 days ago he put it back to 20% starting from epoch 6.

That's not to say it will stay that way, but that's the current status, 2% for epochs 3,4,5, back to 20% epoch 6.

[Seoulite]

3 minutes ago, FTSO_AU said:

Interestingly if you check the contracts, 5 days ago he put it back to 20% starting from epoch 6.

That's not to say it will stay that way, but that's the current status, 2% for epochs 3,4,5, back to 20% epoch 6.

Nice thank you for the insight! Just an experiment for now then. That’s what SGB is for I guess!

[Seoulite]

I remember Hugo said in the latest Uphold interview that providers can’t just suddenly change their fee rate, which makes sense. You don’t want constant chopping and changing.

[Guest]

15 minutes ago, Seoulite said:

Nice thank you for the insight! Just an experiment for now then. That’s what SGB is for I guess!

They made changes to significantly improve win rate a few days ago. They called it v2 and this was their way of rewarding/attracting delegators. They were pretty open about it and that it’ll go back to 20% with epoch 6.

Reasonable strategy. Gives them 3 weeks to be a good FTSO.

[Seoulite]

4 minutes ago, Ripley said:

They made changes to significantly improve win rate a few days ago. They called it v2 and this was their way of rewarding/attracting delegators. They were pretty open about it and that it’ll go back to 20% with epoch 6.

Reasonable strategy. Gives them 3 weeks to be a good FTSO.

Interesting. Maybe there is space in the community for an aggregator of these kinds of announcements? Following every FTSO provider discord and telegram doesn't seem practical. Anyway it's a good idea, and it's good to see fees starting to be optimised for various uses.

[ftso_au]

3 hours ago, Ripley said:

They made changes to significantly improve win rate a few days ago. They called it v2 and this was their way of rewarding/attracting delegators. They were pretty open about it and that it’ll go back to 20% with epoch 6.

Reasonable strategy. Gives them 3 weeks to be a good FTSO.

Interesting, i hope it works for him.

Weeks ago, before launch, Mo was talking about offering his service for 0%, then he mentioned 2% in our Discord ... I wasn't aware he'd announced he was going back to 20%. I did wonder why he chose epoch 6 though, but that's been answered now, thanks.

Edit: I now see his statement from 10hrs ago.

Edited October 14, 2021 by FTSO_AU

[ftso_au]

2 hours ago, Seoulite said:

Interesting. Maybe there is space in the community for an aggregator of these kinds of announcements? Following every FTSO provider discord and telegram doesn't seem practical. Anyway it's a good idea, and it's good to see fees starting to be optimised for various uses.

I'm sure Tim will add this to FlareMetrics.io soon.

For now, you can query the contract yourself, "getDataProviderScheduledFeePercentageChanges"  in https://songbird-explorer.flare.network/address/0xc5738334b972745067fFa666040fdeADc66Cb925/read-contract 

[Seoulite]

3 hours ago, Ripley said:

They made changes to significantly improve win rate a few days ago. They called it v2 and this was their way of rewarding/attracting delegators. They were pretty open about it and that it’ll go back to 20% with epoch 6.

Reasonable strategy. Gives them 3 weeks to be a good FTSO.

I’ve changed my delegation to Sundara as an experiment, I’m interested to see how much impact the fee really makes. Will report back here next week.

[Seoulite]

38 minutes ago, FTSO_AU said:

I'm sure Tim will add this to FlareMetrics.io soon.

For now, you can query the contract yourself, "getDataProviderScheduledFeePercentageChanges"  in https://songbird-explorer.flare.network/address/0xc5738334b972745067fFa666040fdeADc66Cb925/read-contract 

I wasn’t demanding more haha, Tim has already made probably the “home page” of the Flare network. A great service.

I was thinking more of a kind of forum, or place where providers can put announcements. I don’t know how it would work, who would control it, or how it would be profitable. I’m just seeing the potential for it since we currently have info and announcements spread across a bunch of places. Maybe it’s not needed.

[BillyOckham]

3 minutes ago, Seoulite said:

I wasn’t demanding more haha, Tim has already made probably the “home page” of the Flare network. A great service.

I was thinking more of a kind of forum, or place where providers can put announcements. I don’t know how it would work, who would control it, or how it would be profitable. I’m just seeing the potential for it since we currently have info and announcements spread across a bunch of places. Maybe it’s not needed.

Isn’t that a Flare foundation role?   Not that I want to load them up right now….  I’d prefer they work towards helping the roll outs.

[ftso_au]

23 minutes ago, Seoulite said:

I wasn’t demanding more haha, Tim has already made probably the “home page” of the Flare network. A great service.

I was thinking more of a kind of forum, or place where providers can put announcements. I don’t know how it would work, who would control it, or how it would be profitable. I’m just seeing the potential for it since we currently have info and announcements spread across a bunch of places. Maybe it’s not needed.

I think FlareMetrics is the perfect place for it. It would be easy enough to incorporate a "Fee Change" field and the epoch it takes effect.

He's hired a Dev to assist him with the site, so I think you can expect to see more changes soon.

[ftso_au]

30 minutes ago, Seoulite said:

I’ve changed my delegation to Sundara as an experiment, I’m interested to see how much impact the fee really makes. Will report back here next week.

I'll be keeping a close eye on it too. Here's the list of new SP's coming on board this epoch ... I'll assume they'll all be submitting data.

HEWG, FTSO Cloud, Hono-Tso, Big Baby FTSO, Flare Oracle, Taco-Tso, SparkiFi.

[Guest]

27 minutes ago, FTSO_AU said:

I'll be keeping a close eye on it too. Here's the list of new SP's coming on board this epoch ... I'll assume they'll all be submitting data.

HEWG, FTSO Cloud, Hono-Tso, Big Baby FTSO, Flare Oracle, Taco-Tso, SparkiFi.

Hmm. Number of FTSOs is now higher than 25. Brings down peak reward rate to 5% per FTSO. Things are going to get interesting this epoch.

[BillyOckham]

49 minutes ago, Ripley said:

Hmm. Number of FTSOs is now higher than 25. Brings down peak reward rate to 5% per FTSO. Things are going to get interesting this epoch.

I don’t understand.  Are you saying the provider reward limit of 10% is now reduced to 5%?

Is that official?