Another institutional blockchain services vendor has joined the ranks of the Flare Times Series Oracle (FTSO) platforms, bringing the total number of such platforms to seven.
Delchain has formed a relationship with Lena Instruments to provide FLR and SGB delegation services.
DelChain, a cryptocurrency-focused branch of digital wealth manager DelTec, has announced that it has entered into a relationship with Swiss-based Lena Instruments, according to an official announcement.
Happy to announce our partnership w https://t.co/X8f8NYFhOU, #Crypto branch of https://t.co/SSG0Ls4Ha3 https://t.co/eWrlvjsiamLaunching Delegation/FTSO on #Songbird #FlareNetwork among other things.@FlareNetworks @HugoPhilion @CommunityFlare— LenaInstruments (@LenaBlockchain) September 23, 2021
As a result of this agreement, all of DelChain’s clients who have Spark (FLR) or Songbird (SGB) bags will be able to delegate them through the infrastructure of Lena Instruments.
Flare Times Series Oracles (FTSOs) are used as validators in proof-of-stake (PoS) and related systems on Flare (FLR) and its “canary network,” Songbird (SGB), on the Flare blockchain. They are compensated on a periodic basis for moving and validating data within the blockchain.
Delchain CEO Bruno Macchiali claims that this news is the outcome of a collaboration between his company and the Flare (FLR) blockchain:
Delchain and Flare announced their partnership back on April 28th, 2021. We are pleased to partner with Lena Instruments which will now bring its expertise and production quality to the Flare ecosystem. This is an exciting time for Delchain as we create an unbeatable value proposition of solid returns and excellent service to our clients participating in the Flare and Songbird Networks.
The introduction of SGB token trading is on the horizon
Considering that Lena Instruments already has a stake in both products in the form of tokens, this relationship appears to be a natural fit for the company’s long-term business strategy, according to Mona Bürkle, the company’s head of business development:
Being a major Flare and Songbird token-holder, we’ve decided to reaffirm our confidence in the Flare Foundation by launching the First Institutional-Grade Governance Delegation Service on both Songbird and Flare.
As a result, FLR and SGB token holders can receive yields on their delegated tokens by utilizing the services of an institutional-grade IT services provider.
As previously reported, because of the SGB’s placement on the Bitrue exchange, its holders will be able to trade them against XRP and the United States Dollar Tether (USDT) starting on September 27.
