FTSO delegation rewards and FlareDrop distributions can now be automated with autoclaiming module
With a novel automated instrument, all delegators of Flare (FLR) tokens and participants in FlareDrop periodic distributions can make their experience more seamless and secure. No action is needed to claim FLR rewards once the autoclaiming feature is activated.
Flare (FLR) delegators can optimize FLR claiming
According to the explanation shared by the team of interoperability-focused L1 blockchain Flare (FLR), all customers of it and its “canary blockchain” Songbird (SGB) can now enjoy an autoclaiming option.
Enable autoclaiming on #Flare and #Songbird for maximum compounding. This functionality automatically claims FTSO Delegation Rewards and FlareDrops as soon as they are available, eliminating the need for manual input. https://t.co/ix0XNQJ5v9
— Flare ☀️ (@FlareNetworks) May 29, 2023
With autoclaiming activated, FTSO Delegation Rewards and FlareDrop Distributions can be claimed in an automated manner immediately after becoming available.
The procedure is carried out through mechanisms called executors. As of now, two executors — by Bifrost Wallet and Flare Oracle — are opened for FLR delegators and airdrop receivers; both charge users with 0.4 FLR per operation.
The Flare team indicated numerous benefits of autoclaiming:
Assigning an executor to automatically claim tokens has several benefits: “set and forget”, “save time”, “maximize compounding”, “avoid unnecessary cold wallet exposure.”
The autoclaiming module can be customized natively in Flare-based decentralized cryptocurrency applications (dApps) or by using the Flare Portal dashboard.
Flare (FLR) price recovers after touching yearly lows
Flare representatives recalled that FTSO delegation rewards on Flare can be claimed every 3.5 days, while FlareDrop transfers are available every 30 days.
The price of FLR, a core native asset of Flare infrastructure started recovering from its multi-month downtrend. As of today, FLR changes hands at $0.0257 on major spot exchanges.
As covered by U.Today earlier this month, Flare (FLR) launched its API infrastructure on Google Cloud marketplace for Web3 applications.