Delegate to FTSO Providers on SparkDEX

SparkDEX has recently added an 'Ecosystem' Page to its UI, enhancing the overall trading experience for users as well as adding a new feature: Users can now delegate to FTSO's seamlessly through SparkDEX.

What does 'Delegation' to FTSO's mean?

Delegation is the process in which a user assigns their vote power (which equals their total holdings of WFLR) to an FTSO Data provider to increase the data provider’s voting influence. Delegating to data providers in this way allows you to earn a share of the network rewards they receive for providing accurate data.

While you can choose to not delegate and simply let your tokens sit on an exchange or in your wallet, you would be missing out on two opportunities:

• Earning additional rewards.

• Strengthening the ecosystem (and in-turn further increasing your rewards) by supporting the best data providers.

When you delegate your WFLR, you retain the ability to participate in governance voting and to receive FlareDrops.

In the following step by step tutorial we'll show you how it works.

First, make sure you've connected your wallet and are on the Flare Network.

(1) Go to 'Ecosystem'.

(2) Make sure you've selected 'FTSO Delegation' in the sub-header.

(3) To begin the delegation process, click 'Delegate'.

Note that once you proceed to delegating to any of the FTSO's in the provider list, all your WFLR will automatically be delegated to the provider(s) you choose. Important: Tokens you delegate are NOT locked, you have full ownership over your assets and can use them anytime.

Imagine:

Your tokens = Your Vote.

You have the option in this process to add a second provider, but this is optional and entirely based on your decision.

(4) As a primary provider we select e.g Stakeway. If you are fine with selecting only one provider, then head to click Delegate. All your WFLR will then be delegated to only Stakeway.

(5) In case you would like to add a second provider, click on the plus.

(6) Click on the arrow pointing downwards to open the Second Provider list

(7) Choose your second provider.

In this example, the second provider 'FTSO Asia' was selected.

You can now see on the UI, that your WFLR are equally divided to two FTSO providers.

50% of your WFLR are delegated to Stakeway, and the other 50% are delegated to FTSO Asia.

(8) Click 'Delegate'.

(9) Confirm the transaction in your wallet.

Your FTSO Delegation should now be successfully set.

You can now track your FTSO Delegations right inside SparkDEX and claim your FLR delegation rewards once they've started accumulating.

Claiming FTSO Delegation Rewards:

Rewards are accumulated in reward epochs, which last 3.5 days, and can be claimed after the epoch finishes.

The amount of rewards that you receive when you delegate to a data provider depends on multiple factors:

• The percentage of vote power you delegated.

• The initial vote power of the data providers to which you delegated your vote power.

• The performance of those data providers.

How to Re-delegate

• If you wish to Re-delegate your WFLR, which simply means changing your vote for FTSO providers, click on 'Re-delegate'.

• Select another provider(s), and click 'Delegate' to Re-Delegate.

• You have the option to remove your second provider in any case, by simply clicking the 'remove' button next to Second Provider.

All done. You have now re-delegated your WFLR.