Bitrue (BTR) to Support Flare Networks (FLR) as Data Provider: Details

Bitrue (BTR), an XRP-focused multi-purpose blockchain service, will be a data provider for much-anticipated Flare Networks mainnet in Q2, 2021
Bitrue (BTR) multi-instrument blockchain ecosystem shared an update about its collaboration with Flare Networks (FLR), a much-anticipated programmatic blockchain.

Bitrue (BTR) will provide data for Flare (FLR)

According to a press release shared with U.Today, Bitrue (BTR) will be the first data provider for Flare Network. That means Bitrue (BTR) will broadcast the data to ensure the accurate pricing of assets on Flare.

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Image via TwitterWorking together with other data providers, Bitrue will allow Flare Time Series Oracle (FTSO) to assess the rate of any digital asset at a particular time.

Then, holders of FLR, a core native asset of Flare, will be able to delegate their FTSO votes to Bitrue for staking. The same services will be available to the owners of other F-assets. Now the string of F-assets includes FXRP, FDOGE and FLTC.

The delegators will receive FLR-denominated rewards for their activity.

Flare’s IoUs are available for trading on Bitrue (BTR)

The Bitrue (BTR) team stresses that the exact price broadcasting is crucial for the future DeFi services of Flare-based products such as lending and borrowing instruments.

As covered by U.Today previously, Bitrue (BTR) is the first exchange to enable the trading of FLR-pegged IoUs. “Real” FLR tokens will be distributed after Flare launches in mainnet for those who claimed them prior to the airdrop in December 2020. The first batch of payouts will include the distribution of 15 percent of FLR tokens.

Then, the Flare team will distribute three percent of the remaining sum every month.

Finally, Bitrue (BTR) clients will be able to participate in Flare Finance’s airdrop of Dao Flare tokens (DFLR).

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