Flare Foundation Proposal to the Infrastructure Provider Management Group to Add a New Crypto Price Feed to the Existing Set of 50 on Flare
Background-
As the MG is aware, STP.08 and FIP.09 outlined a streamlining process for adding new data sets to the FTSO system on each chain respectively. Anyone can suggest new feeds, however, additions must first be reviewed by the MG and are only accepted if specific voting conditions are met
ASK
The Flare Team respectfully requests that the MG consider and approve the addition of the following new crypto price pairing to the FTSO on Flare:
- USDX/USD
PURPOSE / JUSTIFICATION -
The addition of USDX to the FTSO is essential for the FAssets launch on Flare mainnet. USDX is a stable coin pegged to USD and adding it to the FTSO enables a reliable and secure price feed necessary to capture collateral requirements for FAssets
Note that this request to add a USDX feed is for Flare only as it has already been accepted on Songbird
USDX is currently listed on Bitmart with a USDT pairing and is also available on SparkDEX
PROCESS -
~ An official request posted in open forum on Discourse for MG members to voice their support or raise any concerns
~ The Flare Team will then initiate transactions from the polling contract on Flare for MG members to cast on-chain votes either for or against adding USDX to Flare
~ If voting reaches quorum the USDX/USD pair will be added to the FTSO on Flare