Hi all. Thanks XRP Dev. I think showing people the cycles using the graphics and calendar will help people to understand it better. There appears to be a lot of people asking about it. Good job. Enjoy the ride.
I have a question regarding this: who is deciding what is accurate price information? Also, where do we find the voting power snapshot block as soon as one is created? Just so we can know in realtime when the snapshot has taken place. Thank you :)
All the FTSOs provide their data feeds to the Flare Network. To be more accurate to a smart contract. E.g: 4 data feeds XRP: 1.09 1.10 1.11 1.12 Smart Contract cuts off top 25% and bottom 25% 1.09 ---------- 1.10 ( send reward to FTSO who provided that) 1.11( send reward to FTSO who provided that) ---------- 1.12 Price = (1.10 + 1.11) / 2 = 1.105 I will look into the second question, because I am still unsure if it is just the normal voting block for the next epoch or actually the snapshot ^^
@@XRPDEV ok got it. I thought maybe the incoming prices are compared to some sort of internal price. But I understand now the provided prices are compared with each other. That makes sense also. Thanks for looking into the second question. This particularly helps to determine a good trading moment for SGB as well as usually we see a sell off after the snapshot has taken place. So somewhere it is known when it actually happens but till now I haven’t been able to find that info. Thanks again!
@@dsquared6441 Also when new exchanges support the airdrop and release the tokens, the price also tanks a bit because some people just want to sell off everything ^^
great explanation XRP Dev!!!!!! Best yet. Hey quick question. What is the total pool of the rewards? The big question i,m seeing and i,m questioning it myself is what is the toatl pool and will it slow to a certain point over time? A vid on that would be fantastic. Thanks!!!
Thank you. Don't know right now the exact number. Just google a little and search on flare.xyz Yes the rewards will become less over time. flare.xyz/content/images/size/w1000/2020/11/Screen-Shot-2020-11-23-at-9.21.48-PM-3.png Will think about it :)
@@XRPDEV I was listening to Micky B fresh and they were saying it will drop to a certain level and maintain that level something to do with the inflation rate ?????
@@LithiumHardRock "The total amount of the reward is the inflation rate of the Spark token and is determined by governance." - Whitepaper drive.google.com/file/d/193JQKBZ-tZ1zuM8BkaTe_RWYhhZCjwIN/view Sounds right ^^
What happens if you add additional WSGB to the delegation during the week? Do your rewards increase as you add or are you just awarded on your original delegation
I am in my first week of claiming but what it looks like to me so far is that the reward you get is the "reward rate - 20%". So if you only have 100 WSGB and the reward rate is 2.00 per 100 WSGB, you might expect 1.6 SGB. So that would be 2 SGB - 20%. This is just what I can deduce from the reward I get vs the reward rate.
@@ALPHAGENXCORP 20% of the rewards go to the FTSO service provider (hoster). Each Oracle can set the fee to whatever they prefer. There are also oracles that charge 2-15%.
@@ALPHAGENXCORP Maybe I am also misunderstanding it. But IMHO he meant that the entire reward rate is 2 SGB / 100 WSGB. So he would get 80% (1.6 SGB) and the FTSO would get 20% (0.4 SGB). Therefore he called it 2 SGB - (2*)20% = 2 - 2 * 20/100
hey man i could add on this video that you might have missed also if you want i can go and explain FlareX LP to you if you wana do a future video on that
Hi all. Thanks XRP Dev.
I think showing people the cycles using the graphics and calendar will help people to understand it better. There appears to be a lot of people asking about it.
Good job.
Enjoy the ride.
Thanks :), you too
I have a question regarding this: who is deciding what is accurate price information?
Also, where do we find the voting power snapshot block as soon as one is created? Just so we can know in realtime when the snapshot has taken place. Thank you :)
All the FTSOs provide their data feeds to the Flare Network. To be more accurate to a smart contract.
E.g: 4 data feeds
XRP:
1.09
1.10
1.11
1.12
Smart Contract cuts off top 25% and bottom 25%
1.09
----------
1.10 ( send reward to FTSO who provided that)
1.11( send reward to FTSO who provided that)
----------
1.12
Price = (1.10 + 1.11) / 2 = 1.105
I will look into the second question, because I am still unsure if it is just the normal voting block for the next epoch or actually the snapshot ^^
@@XRPDEV ok got it. I thought maybe the incoming prices are compared to some sort of internal price. But I understand now the provided prices are compared with each other. That makes sense also.
Thanks for looking into the second question. This particularly helps to determine a good trading moment for SGB as well as usually we see a sell off after the snapshot has taken place. So somewhere it is known when it actually happens but till now I haven’t been able to find that info. Thanks again!
@@dsquared6441 Also when new exchanges support the airdrop and release the tokens, the price also tanks a bit because some people just want to sell off everything ^^
great explanation XRP Dev!!!!!! Best yet. Hey quick question. What is the total pool of the rewards? The big question i,m seeing and i,m questioning it myself is what is the toatl pool and will it slow to a certain point over time? A vid on that would be fantastic. Thanks!!!
Thank you. Don't know right now the exact number. Just google a little and search on flare.xyz
Yes the rewards will become less over time.
flare.xyz/content/images/size/w1000/2020/11/Screen-Shot-2020-11-23-at-9.21.48-PM-3.png
Will think about it :)
@@XRPDEV I was listening to Micky B fresh and they were saying it will drop to a certain level and maintain that level something to do with the inflation rate ?????
@@LithiumHardRock "The total amount of the reward is the
inflation rate of the Spark token and is determined by governance." - Whitepaper
drive.google.com/file/d/193JQKBZ-tZ1zuM8BkaTe_RWYhhZCjwIN/view
Sounds right ^^
What happens if you add additional WSGB to the delegation during the week? Do your rewards increase as you add or are you just awarded on your original delegation
You are awarded on the original one, and your additional ones will get locked in, in the next cycle
@@XRPDEV I believe in this i have loaded up to 100k what will my rewards look like at that number
@@praxismediagroup4085 Wow, that's a lot.
~2180 SGB per Week
I am in my first week of claiming but what it looks like to me so far is that the reward you get is the "reward rate - 20%".
So if you only have 100 WSGB and the reward rate is 2.00 per 100 WSGB, you might expect 1.6 SGB. So that would be 2 SGB - 20%.
This is just what I can deduce from the reward I get vs the reward rate.
Yes, that's correct.
"if you only have 100 WSGB and the reward rate is 2.00 per 100 WSGB, you might expect 1.6 SGB. So that would be 2 SGB - 20%." what?!
@@ALPHAGENXCORP 20% of the rewards go to the FTSO service provider (hoster). Each Oracle can set the fee to whatever they prefer. There are also oracles that charge 2-15%.
@@XRPDEV i'm talking about his math.... "2.00 per 100 WSGB, you might expect 1.6 SGB. So that would be 2 SGB - 20%."
@@ALPHAGENXCORP
Maybe I am also misunderstanding it. But IMHO he meant that the entire reward rate is 2 SGB / 100 WSGB.
So he would get 80% (1.6 SGB) and the FTSO would get 20% (0.4 SGB).
Therefore he called it 2 SGB - (2*)20% = 2 - 2 * 20/100
hey man i could add on this video that you might have missed also if you want i can go and explain FlareX LP to you if you wana do a future video on that
I already have a video on that FlareX and LPs :)
@@XRPDEV sorry I meant a general strategy guide on FlareX do’s and don’t
@@Yosh7437 ah ok, i will think about it ^^, will probably do that after the launch of the f-assets and can't wait for the state connector.