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Flare FAQ 2.0 (updated and accurate as of June 2022)


Seoulite

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  • 2 months later...

Thanks @Seoulitefor the extensive information provided. Just reread it again and it clears up a bit, again.

A question I have: what will there be in it for the participating exchanges? Is there any chance that we will be able to delegate our votes to a 'signal provider' for the Flare Time Series Oracle, from the exchanges? Otherwise they might fear a bankrun or what?

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On 9/2/2022 at 3:31 AM, grunish said:

Thanks @Seoulitefor the extensive information provided. Just reread it again and it clears up a bit, again.

A question I have: what will there be in it for the participating exchanges? Is there any chance that we will be able to delegate our votes to a 'signal provider' for the Flare Time Series Oracle, from the exchanges? Otherwise they might fear a bankrun or what?

 

I suppose the exchanges get a certain amount of “traffic” and if they list the token they can make the trading fees. 

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Yeah that part I understand :rolleyes:

But the other question: Is there any chance that we will be able to delegate our votes to a 'signal provider' for the Flare Time Series Oracle, from the exchanges? 

If not, then people would withdraw their FLR to delegate in order to receive the other 85% of the airdrop, right? Then there's not much trading fees to collect.

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Ok I found the answer myself in the Flare documentation here (page last update: 2022-09-08)

"Delegating on the user's behalf#

Delegation is one of the multiple ways in which the Flare blockchain rewards participants of the ecosystem. In particular, delegation allows token holders to put their stake behind an FTSO data provider to increase its relative weight (See this FTSO blog post for more information). In return, each time a data provider submits useful information it shares its reward with all the token holders that delegated to it.

 

The Delegation Guide details this process for users. However, since Exchanges keep user's tokens, only Exchanges can perform delegation. If you are an Exchange and want to offer your users the ability to earn rewards by delegation, this page summarizes the process and explains how to perform it on the user's behalf."

 

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