LightFTSO ☀️ @lightFTSO

I've run the numbers on a cross section of providers that scored high on example provider usage. Using the original canonical median calculation according to their vp weights for epoch 416 and pre fip16 and the new 5x staking vp weighted formula for 418. The data confirms widespread abuse is detrimental to the FTSO where low effort providers concentrate 32% of the total valid VP around the example provider introducing severe instability to the overall system that now heavily depends on one subset of data injected by far too many providers. Any provider bragging about a huge jump from 20-30% to nearly 50% post fip16 is effectively bragging about having deployed the example provider to mainnet.

As usual you can contact us here, or by email: [email protected] [email protected]

2/ Flare has been expanding a lot, in ways we don't even conceive yet, it's got hard to keep up with all the innovations, changes, partnerships, new products, new services. That's as incredible as it gets. We're grateful to be a part of it, and we're excited for what's to come!

And finally, here are some thoughts: 1/ Flare, and the wider crypto and tradfi markets have had a few rough months. Things arent as cheery as they have been in the past, but that just means things we'll appreciate the next bullrun a lot more. Can't be happy all the time, can we?

On another note, last week we had two downtime events, 1st one caused by a blackout due to a storm, and the 2nd one caused by a hardware failure due to the first blackout. These lasted about 4 hours in total. Sorry about that. We're taking measures to prevent that in the future.

Our validator's stake was just renewed for 1 entire year. We are so excited to see how much the Flare ecosystem has grown 1 year from now! Note: Due to FIP.16, every validator has to set it's fee to 20%. This is beyond compulsory, beyond our control. See proposals.flare.network/FIP/FIP_16.htm…

Cycles are interesting in that they have zero regard for reality. Vs even 1 year ago Flare is in an inconceivably better utility position. More is coming with Flare 2.0, further expansion of XRPFi, the coming onboarding of meaningful institutional partners (finally), FSA is working to abstract away complexity, FIRE and FIP16 change the token economics for the (vastly) better. And those are just the things that we can discuss publicly. Almost everything we have set out to do is being done (barring adding more FAssets - in the works) and by and large it’s working. But if you look at the whole crypto market you would think the whole industry is finished - despite more institutional interest and greater clarity than ever before. Unfortunately cycles are a fact of life, even Amazon had a 94% peak to trough drawdown when the .com cycle burst - but the internet didn’t go away nor did Amazon and neither will crypto and certainly not Flare - which presents more utility than almost anything else in the market. Every cycle teaches the same lesson, and every time we forget it: near the bottom it always feels like the end, but it never is. I believe that we're closer to the turn than the mood would have you believe. The roadmap ahead is the thing we're here for. At Flare we trust in the process to ship great product - knowing that is the only true path to winning. Flare will emerge from this brutal winter fighting fit and offering more than ever for the next cycle.

FAssets v1.3 is live on Songbird. Minting no longer goes through agents — users initiate it directly on XRPL with a labelled payment. FXRP routes via destination tags and memo. The same paths $XRP already uses. What changes for users: – No agent selection – No reservation step – No lots. Mint any amount – Aligned with how exchanges and wallets already send XRP XRPFi doesn't scale on new apps alone. It scales when getting into those apps feels like sending $XRP. v1.3 is that step. First the rails. Then the rush.

Recent discussions by some providers on Flare about how the FIP.16 changes would destroy FTO accuracy are absurd, overwrought, and reek of narcissistic arrogance. The current primary price band is absurdly tight, and even the secondary bands are incredibly tight when talking about consensus pricing for assets that trade on hundreds of exchanges across all time-zones, with incredible variance in volumes (especially when considering true volume vs wash trade volume). Let's take the XRP price feed on a random round - Round 1306230. The Finalized price for that round was $1.33355 In order to be in the primary band, a DP had to supply a price of $1.33354-$1.33359. Now also, remember that border prices receive only 50% primary credit, so in reality to be considered a 100% primary band winner for that round, you would have to have supplied a price of $1.33355-$1.33358. That is a $0.00003 band width. Now, compare that to the TRUE price of XRP at that time...Oh wait, there is no true price of XRP at that time. Because every single price you see for an asset anywhere is based on either last trade, or an aggregation. So how important is it that a provider supply a price within that $0.00003 price range? 0% important. That exact finalized price could have been derived from any spread of provided prices, although the wider the actual submission spread, the more chance of "true" price drift. However the difference between $1.33354 and $1.33355 when it comes to actual applications of these price feeds is nonexistent. Yet, some incredibly arrogant providers would have you believe that anyone not providing a finalized price within that band is poisoning the oracle. This is ridiculously stupid. This also ignores the fact that if everyone provided exactly the same price, then every provider would only have 50% primary band accuracy because then every provider would be on the edge, just like happens often on the stablecoin feeds.. You see, believing that being in the primary band makes you superior is a fundamental misunderstanding of what makes a good oracle system. Chasing the perfect consensus price is actually worse for stability and reliability. A good oracle system needs a little diversity in methodology. Demanding that every single provider continue to progressively iterate and expand while incurring greater and greater costs is absurd. The secondary band for that Round on XRP was $1.33235-$1.33475 which is a spread of $0.0024 meaning that providers had to supply a price within $0.0012 of the consensus price to receive any rewards. That is HIGHLY accurate. As someone who runs products that actually use these price feeds, an "accuracy" within 0.09% of the consensus price is far far beyond the necessary accuracy for price feeds. Almost every single provider is hitting that secondary band over 90% of the time across all feeds. Not every provider needs to be a no-life enthusiast. Good enough is, in fact, good enough, and stability counts for far more than "accuracy." The FTSO system created by @FlareNetworks and @HugoPhilion is working incredibly well, with a proven track record of accuracy and stability. Don't listen to the alarmists. FIP.16 will in no way damage the FTSO.

Im working with the content team to create material to thoroughly explain the governance proposal. Will release both after the Easter break so as not to send it out into a period where many are not paying attention.

Flare community: the blackout continues. Currently, our submissions on the FTSO, FDC and Fast Updates protocols are being affected. Staking remains up and running as normal. We'll get back on track as soon as possible. Rewards on ftso delegation Will be affected this round.

And we're back! All our systems are back up and running normally now. Again, sorry for the inconvenience, these things happen.

And we're back! All our systems are back up and running normally now. Again, sorry for the inconvenience, these things happen.

There's been a power outage due to heavy rains in the area. Our data provider is currently down, we expect our services will be resumed shortly. Sorry for the inconvenience, hopefully it won't last long. If you have any questions or comments don't hesitate to talk! Thank you

The Flaredev account has been compromised. Do not interact. Do not click any links.

@4DadsFtso @FlareNetworks Crypto in general, for me, has been a wild ride, while I tend to distance myself from many fashionable trends and don't keep a strong online presence, I do think crypto is here to stay, and there are and will always be opportunities to be found, both financial and intellectual

@4DadsFtso @FlareNetworks Specifically, I think @FlareNetworks, aligns with that vision. Imho, it helps further a world where data, and therefore information is freely available, and therefore freedom can be incremented. 4/