Hex Trust has announced the launch of delegation support as an FTSO Data Provider for FLARE ($FLR) and now offers a full suite of products and services around the network. The launch enables institutional clients to delegate their FLR tokens to Hex Trust's Flare Time Series Oracle (FTSO) to earn rewards.
Hex Trust's full suite of products and services around Flare Network also includes the support of FLR via Hex Safe, the bank-grade platform for securing and managing digital assets, designed with a compliance-first approach and the highest level of security available in the market. Other Flare services include additional ecosystem functionalities from the safety of cold storage, such as governance, delegations, and wrapping/unwrapping.
“It’s our mission at Hex Trust to fully integrate, support and provide a wide range of services for blockchain ecosystems like Flare Network. As an FTSO, HT Markets will help secure the Flare Network while also adding value to our clients by enabling them to delegate and utilize FLR tokens kept in custody with us.” — Dario Capodici, Head of Markets at Hex Trust
The Flare Time Series Oracle (FTSO) is a decentralized on-chain mechanism that provides time-series data estimates to the Flare Network to ensure accurate pricing for assets within its smart contracts. Every FLR holder now has a chance to delegate their Flare (FLR) to Data Providers such as Hex Trust to earn FTSO Delegation Rewards.
By delegating your voting power, not only do you earn rewards, but you support reliable data providers, which strengthens the stability of the FTSO and the entire Flare network ecosystem.
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Flare is the blockchain for data. It is an EVM-based Layer 1 blockchain that gives developers decentralized access to high-integrity data from other chains and the internet. This enables new use cases and monetization models, while allowing apps to serve multiple chains through a single deployment.
Flare’s State Connector protocols enable information, both from other blockchains and the internet to be used securely, scalably and trustlessly with smart contracts on Flare. The Flare Time Series Oracle delivers highly-decentralized price and data feeds to dapps on Flare, without relying on centralized providers.
Hex Trust is the leading fully licensed and insured provider of bank-grade custody and associated services for digital assets in Asia. Led by veteran banking technologists and award-winning financial services experts, Hex Trust has built Hex Safe, a proprietary bank-grade platform that delivers custody, DeFi, brokerage, and financing solutions for financial institutions, digital asset organizations, corporations and private clients. Hex Trust has offices in Singapore, Hong Kong, Dubai, Italy, and Vietnam.