FIP.02 & STP.03: Proposals to launch FTSO Management Groups on Flare and Songbird

To support healthy operation while delivering a sufficiently decentralized network, Flare will offer the community a set of proposed measures to identify and mitigate against malicious activity within the network or its protocols.

Flare’s core interoperability protocols are designed to reward decentralized delivery of data to the network. The Flare Time Series Oracle (FTSO) provides decentralized time series data, such as cryptocurrency price pairs, while rewarding the best-performing data providers and the token holders who have delegated to them.

FIP.02 and STP.03 propose initial steps towards self-regulation of network protocols. They recommend the implementation of a decentralized collective, called the FTSO Management Group, designed to safeguard the honest operation of the FTSO on the Flare and Songbird networks.

The FTSO Management Group will report possible “infractions” by FTSO data providers and collectively determine whether punitive actions should be taken. Infractions could be anything that impairs the FTSO ecosystem as a whole, including, but not limited to:

Collusion: defined as multiple FTSO data providers showing a strong statistical correlation in their submissions or clearly submitting through the same node.
Duplication: defined as multiple FTSO data providers on the same chain, controlled by the same entity, and running largely the same codebases, resulting in substantially similar submissions.

Any group member can propose a provider to be chilled. A chilled provider will not be able to operate for some time, causing it economic loss. A second chilling will cause the provider to be banned forever. Chill proposals will then be voted by all members and, when approved, will be implemented by governance.

The FTSO Management Group will be formed by upstanding data providers, meaning that they need to be actively submitting data and earning rewards, and not have been punished recently, either by being chilled themselves or by failing to perform their duties in the group.

Read the full details of both proposals on the Governance Proposal Repository.

STP.03: Wrap your SGB before Saturday 18 February to participate in the vote.
FIP.02: Wrap your FLR before Thursday 16 February to participate in the vote.