Wrap SGB tokens and delegate them to start earning rewards.
Beaming high-fidelity FTSO signals to the Flare ecosystem
What is an FTSO?
An FTSO or Flare Time Series Oracle is a key component in contributing to the decentralization of Flare Network and Songbird. The FTSO relies on 3rd parties known as Signal Providers or Oracles to provide key data points to the network, such as price (example: price of XRP/USD). This takes the provision of data out of centralized hands and strengthens the decentralized nature of each network. DK FTSO serves as one of many signal providers supporting the decentralization of Flare and Songbird.
What is Delegating?
Delegating gives you, as a stakeholder in Flare Network or Songbird, the power to delegate your vote to a Signal Provider. The signal providers goal is to provide accurate real-time data to the network and in turn receives a reward from the network for doing so. This reward is then distributed amongst those who delegated their vote to the signal provider.
What makes a Signal Provider Successful?
Simply put, providing good data. The signal providers providing the best data will be granted rewards at the highest rate, making those signal providers the optimal choice for delegation.
How is price data used on Flare and Songbird?
Flare and Songbird both rely on accurate price data to support smart contracts on their network. It plays a key role for components of the network such as the F-Asset system, which relies on pricing data from Signal Providers such as DK FTSO to ensure the F-Asset system reflects real-time prices.
The Songbird and Flare Networks have delegation and rewards cycles that are important to understand when delegating and claiming rewards. Reward cycles begin and end every Saturday at 8:40 UTC. These cycles are called Reward Epochs. Each new Reward Epoch begins on Saturday and it is also the time when you can claim rewards for the previous Epoch. In order to ensure your vote delegation is counted for a Reward Epoch your vote delegations need to be in before Thursdays at 14:41 UTC. Once you are eligible to claim rewards you can visit the Songbird Block Explorer and connect via Metamask to do so.
Visit the FtsoRewardManager Contract: FtsoRewardManager Contract
Connect via MetaMask and then use Function #3, claimReward
Input your address in the _recipient field and the Reward Epoch(s) you wish to claim rewards for, and then click Write to confirm the transaction
If you were eligible for the reward claim and the transaction was successful you should see your rewards show up in your balance. If you are having issues claiming, make sure you are entering the correct Reward Epoch number. Remember you cannot claim mid Epoch, you must wait until 8:40 UTC on Saturday's to claim rewards for the previous Reward Epoch.