Recently, the Flare Time Series Oracle v2 went live on Flare mainnet, introducing changes to FTSO rewards.
The implementation has three phases:
- Trial: Reward allocation remains unchanged.
- Beta: Rewards are split 50/50 between v1 and v2 data providers.
- Deprecation: Only v2 data providers receive rewards.
We are currently moving from the trial phase to the beta phase of the FTSOv2 rewards. V1 rewards for epoch 226 have just been distributed and are smaller than usual, a trend that continues in the ongoing epoch 227. Starting Thursday, September 26th, the first v2 rewards epoch 228 will begin. It will take a few days for these rewards to become claimable.
Under the hood
The FTSOv2 rewards epoch operates on a 3.5-day cycle. The next epoch 228 starts from Sep 26 to Sep 30. After the epoch ends, rewards are calculated and published as data. Data providers then sign the rewards (specifically the Merkle root), which may take a few days until 50% of the weight of data providers have signed. Once complete, rewards become claimable.
Key takeaways
- If you see reduced rewards as a delegator or data provider, it’s because your v2 rewards are accumulating and will be distributed around next Thursday, assuming that the provider you have delegated to supports v2.
- You should switch your delegation to data providers supporting v2 as soon as possible to increase your chances of qualifying for the next epoch rewards. The eligibility is determined by a randomly selected block from the current reward epoch 227 (23 Sep to 26 Sep).
- We recommend all FTSO data providers migrate to v2 as soon as possible to maximize potential rewards. Earlier migration means earlier v2 reward accumulation.
- The community should expect some initial delays as data providers adjust to the new rewarding process, though most are familiar with it from their Songbird experience.
- If you see that the entity you are currently delegating to is on the v2 entities list, then you don’t need to redelegate to receive rewards.
- Visit the new Flare Systems Explorer for the latest list of registered FTSOv2 entities: https://flare-systems-explorer.flare.network/entities/general
