LightFTSO ☀️

Providing signals for Songbird and Flare. Facilitating passive income for Flare participants. Helping connect everything.
🇲🇽
☀️

[LightFTSO ☀️ @lightFTSO]

Obligatory link tweet:
https://t.co/g9u8lAuZ6M

[Flare ☀️ @FlareNetworks]

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.

[Darren "Thanasimos" Williams @Thana_Enosys]

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.

[Hugo Philion @HugoPhilion]

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.

[LightFTSO ☀️ @lightFTSO]

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.

[LightFTSO ☀️ @lightFTSO]

And we're back!
All our systems are back up and running normally now.

Again, sorry for the inconvenience, these things happen.

[LightFTSO ☀️ @lightFTSO]

And we're back!
All our systems are back up and running normally now.

Again, sorry for the inconvenience, these things happen.

[LightFTSO ☀️ @lightFTSO]

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

[Hugo Philion @HugoPhilion]

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

[LightFTSO ☀️ @lightFTSO]

@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

[LightFTSO ☀️ @lightFTSO]

@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/

[LightFTSO ☀️ @lightFTSO]

End of an era for the Flare Drops.
The start of something new 😉

[LightFTSO ☀️ @lightFTSO]

The stream of data an FTSO provider has to deal with every second (slowed down) 😂😅

[LightFTSO ☀️ @lightFTSO]

An ISP outage took our services down for about one hour and a half a few moments ago.
We're back now operating as normal.
Sorry for the inconvenience. rest assured LightFTSO is always monitoring and taking action when these things happen.

Thank you! Onwards!

[LightFTSO ☀️ @lightFTSO]

We just renewed our validator stake, valid until May 1st.
Low fees!
A big thank you to all our delegators and to everyone participating in the @FlareNetworks projects!
Onwards!

https://t.co/UwKIEcwq1M

As usual, you can delegate stake using https://t.co/eZyPrQYrQ8
Thank you!!

[LightFTSO ☀️ @lightFTSO]

@Bitso $FLR is on @Bitso! Finally!

Gracias tío Bitso!

[Bitso @Bitso]

¿Pensabas que no íbamos a sumar más criptos? 🤔

¡Para nada! Tú lo pediste y a partir de hoy tenemos +130 criptos en Bitso. 🚀
Hoy le damos la bienvenida a 20 criptos 👉 XCN, 1INCH, IMX, SUPER, STRK, FLOW, XTZ, MINA, MORPHO, HNT, AIOZ, EGLD, KSM, CVX, ROSE, AKT, FLR, GNO, VTHO y AXL.

Tu próxima inversión está más cerca que nunca: encuentra estas criptos y muchas más en la app. ¿Lo mejor? Puedes comprarlas al instante con tus pesos.

[LightFTSO ☀️ @lightFTSO]

A power outage caused downtime in our data provider services for about 2 hours.
Things are back up and running smoothly now
Sorry for the inconvenience We took action as soon as we got the notification but were AFK and thats why it took so long

Thank you for your understanding