|Type||Flare Improvement Proposal|
|Majority Condition||50% (required) 94.52% (obtained)|
|Voting Outcome||Accepted on 7-Aug-2023|
|Timeline||8-Aug-2023 Deployment started on Coston2. |
8-Aug-2023 Deployment started on Flare
24-Aug-2023 Deployment complete.
Following requests from the Flare and Songbird communities, this proposal updates the price pairs currently provided by the FTSO system.
All prices are against the
USD currency. The current 12 price pairs are
The proposed changes are as follows:
Remove 2 pairs:
Add 8 pairs:
After those pairs are added or removed, the list of supported price pairs is:
Please note that, due to current network limitations, some pairs need to be removed to free the network bandwidth for the new ones. The Flare Foundation is working to overcome these limitations. Similar voting was conducted and accepted on Songbird for STP.04.
To handle each new price pair, 8 new clones of the
Ftsocontract will be deployed and configured.
FtsoManagercontract will be called for each of the removed pairs.
FtsoManagercontract will be called to add the 8 new pairs.
Once these calls are made, the
FtsoRegistry contract will reflect the new list of price pairs, and the FTSO data providers can start submitting them.
Note that the indices associated with the removed pairs, as returned by
FtsoRegistry.getSupportedIndices for example, will not be used anymore and will remain unused. This means that the rest of the existing pairs will keep their current indices and the added pairs will receive indices from 12 onwards.
FtsoAdded event is fired from the
FtsoManager every time a price pair is added or removed, and can be used by data providers to start submitting the new pairs at exactly the right block height. Failure to do so will result in reverted submissions.
FIP.03 introduced a secondary reward band to benefit more FTSO data providers. The width of this band is chosen for each price pair to reward a fixed percentage of all providers.
However, immediately after the new price pairs are added by this proposal, enough information about them will not be available to calculate their secondary band widths. As a result, initially the secondary reward bands for these pairs will be disabled.
In approximately 2 weeks, after a few reward epochs have passed and enough submissions have been analyzed, secondary reward bands for the new pairs will be enabled.
There is no new code involved. Only governance calls to modify the network’s configuration.
Implementation is expected to start shortly after the voting finishes. The exact date will be announced in time for FTSO data providers to prepare.
To pass, the proposal requires a simple majority of votes in favor of it.
One week after the proposal is published in the Flare Portal.