- Flare Time Sequence Oracle v2 introduces a brand new reward system, delaying 50% of rewards for 2 epochs.
- Flare’s decentralized KYC ensures privateness whereas enabling regulated digital entry for Chinese language guests in Hong Kong.
Flare’s announcement emphasised substantial modifications to its Flare Time Sequence Oracle (FTSO) v2 rewards mechanism, indicating a crucial shift within the firm’s operational structure. Formally launching on the Flare mainnet per week in the past, the FTSO v2 brings enhancements meant to maximise the motivation distribution mechanism for its community customers.
Replace on FTSOv2 Rewards on Flare
Per week in the past, the Flare Time Sequence Oracle v2 went stay on Flare mainnet, introducing adjustments to FTSO rewards.
TL;DR: V1 rewards are diminished in epochs 226 (ended right now) and 227 because of the V2 deployment getting into the beta part, the place rewards will… pic.twitter.com/OgYbUX2g57
— Flare ☀️ (@FlareNetworks) September 23, 2024
Flare Encourages Fast Migration to FTSO v2 for Full Rewards Eligibility
Underneath the revised method, per week will trigger 50% of the FTSO incentives to be postponed. This alteration implies that the prizes for the next two epochs—every lasting 3.5 days—can be halfed. Full incentives, nevertheless, ought to begin to stream on November 28, following the tip of those transitional intervals.
Flare has suggested shoppers to shortly change their delegations to knowledge suppliers supporting the v2 protocol to maximise their possibilities of qualifying for forthcoming awards. The eligibility depends upon a randomly chosen block from the present reward interval, thereby stressing much more the necessity for fast migration.
Flare additionally made clear that each one knowledge sources have to change to v2 on the earliest likelihood. That is important not just for preserving eligibility within the ecosystem but additionally for gathering rewards sooner. Customers assigning to firms already moved to v2 needn’t redelegate, subsequently streamlining the change for a subset of customers.
Beside that, a previous CNF report highlighted Flare’s partnership with Crimson Date Know-how to deliver distributed KYC.
For Mainland Chinese language visitors in Hong Kong, this method lets them have managed however nameless digital entry. Flare ensures that non-public knowledge stays protected by combining privateness and compliance, so following regulatory guidelines—a significant advance in bridging digital economies.
In the meantime, Flare’s native coin, FLR, retains attracting curiosity. Reflecting a 1.13% improve over the past 24 hours, FLR swapped palms at about $0.02323 on the time of writing. Its market cap rises over the $1.2 billion degree with this consequence.