- A bug identified on Flare Network’s FTSO Reward Manager left many users with unclaimed rewards.
- The FTSO is a decentralized smart contract that estimates and gathers data from users who are later rewarded.
- Data providers go through a commit-and-reveal process where they submit their data.
A network glitch was discovered on the FTSO Reward Manager contract on Flare Network. The FTSO contract has been now deactivated and replaced by a new one. Although the contract was not exploited by any attack, the bug left all unclaimed rewards from previous FTSO epochs unclaimable, claims the network.
For the uninitiated: The Flare Time Series Oracle (FTSO) is a decentralized and secure smart contract on the Flare network that continuously estimates various types of data. Independent data providers gather information from sources like centralized and decentralized exchanges and feed it into the FTSO system. The data is then weighted based on the provider’s voting power and a median is computed to obtain the final estimate.
Data providers that furnish valuable information, such as price pairs, are rewarded, and the resulting data estimates are ultimately recorded on-chain.
As per the reports, any account holder on the Flare network can become a data provider for the FTSO and receive rewards for submitting data. The top 100 data providers with the highest voting power, determined by Wrapped FLR balance and delegations, are selected per epoch to have their submissions considered.
In the FTSO, data providers participate in a commit-and-reveal process where they submit their data in rounds. During a 3-minute price epoch, providers gather information, process it using their algorithms, and submit a hash of the data (commit). In the first half of the next price epoch (1.5 minutes), they then reveal the actual data.
Data providers and their delegators receive rewards for each price epoch in which their submitted data is close to the median value. Rewards are collected over time during Reward Epochs (3.5 days on Flare network and 7 days on Songbird) and can be claimed once the epoch is finished.
Rewards from FTSO are not automatically sent to recipients. They are stored in the FTSO Reward Manager contract and must be collected after the reward epoch ends. Unfortunately due to the bug, users won’t be able to collect their rewards this time.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
