Fast Updates Parameter Changes
June 2025
Overview
Following SIP.05, the Flare Foundation proposes a set of parameter adjustments to the FTSO Fast Updates protocol, aimed at further enhancing the accuracy and responsiveness of price feeds. The key focus is on two core parameters::
- sampleSize: Defines the expected number of fast updates per block. It is currently set to 1 on Songbird.
- range: Determines the precision of a single update, as a function of the expected sample size, through the formula
range = sampleSize * precision
The default value of the range is 1/2^13 (or approximately 0.0122%).
While volatility incentives can be temporarily enabled during periods of high market activity, the Foundation proposes increasing the default sample size to further improve feed recovery during sudden price movements. However, simply increasing the sample size without adjusting the precision parameter may lead to higher variance in feed deviations during normal market conditions. Thus, a balanced adjustment of both parameters is being considered.
Over the coming weeks, the Foundation aims to conduct a series of tests using parameter values in the following ranges:
- sampleSize: between 1 and 3
- range: between 0.005% and 0.04%
The Foundation will then assess if these changes lead to better overall accuracy as compared to the current values.
If this proposal is approved, the initial parameter change will be:
- sampleSize: increased from 1 to 1.5
- range: Adjusted by the same 1.5 factor such that precision remains the same as the current value.
Following this initial adjustment, the Foundation will continue to monitor the impact on feed stability and may carry out additional tests within the specified parameter ranges. Any further changes will be publicly disclosed to the Management Group in advance.
It is important to note that with the recent node upgrade, the block gas limit on both Flare and Songbird has nearly doubled, with a single fast-update submission taking approximately 1.33% gas with the current number of feeds. As such, increasing the sample size will not impose a significant burden on the network capacity.
Voting Process
~ An official request proposal posted in open forum on Discourse for MG members to voice their support or raise any concerns.
~ The Flare Foundation will then initiate a transaction from the polling contract on Songbird for MG members to cast on-chain votes either for or against the proposed changes.
~ Voting is rejection based and would require 66% participation amongst all eligible MG members and more than 50% of the votes going against the proposal for it to be rejected. Otherwise, the Foundation will proceed with the initial parameter changes on Songbird sometime after the voting period expires.
