The FTSO is Flare’s native oracle for time series data such as cryptocurrency prices. It provides applications on the Flare network with highly accurate and decentralized data. No single party is in control of the process and it would take a very large amount of effort to disrupt.

Why

The FTSO acquires off-chain time series data without relying on a centralized entity to bring the data on-chain. The FTSO’s outputs can then be used by decentralized applications built on Flare, for instance by lending protocols.

How

The FTSO relies on a set of independent data providers to retrieve information from external sources, such as centralized and decentralized exchanges. From this data, a final estimate is computed.

Each data provider’s submission is weighted by its stake and any stake delegated to it by any Flare holder, reflecting the community’s trust in that particular provider.

The resulting price estimates are published on-chain, and data providers that supplied useful price pair information close to the final estimate are rewarded. These rewards are shared with the token holders that delegated to them.

The Flare Time Series Oracle provides

highly decentralized price feeds.

The Flare Time Series Oracle provides highly decentralized price feeds.

Decentralized

A network of data providers makes the FTSO decentralized. They are independent entities to Flare and not owned or managed by Flare in any way.

Rapidly updating

FTSO data is currently updated every three minutes. Future versions of the FTSO may shorten this interval.

Extendable

More prices and other time series data sets can be added.

Accurate

The FTSO incentivizes accurate provision of decentralized data to the network.

Incentivized participation

Flare token holders receive a share of the FTSO rewards earned by the specific data providers they have delegated tokens to.