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One more institutional blockchain services vendor joins the club of Flare Times Series Oracle (FTSO) platforms.
Delchain has entered into a partnership with Lena Instruments for FLR, SGB delegation
According to the official announcement shared by DelChain, a crypto-focused arm of digital wealth manager DelTec, it has inked a partnership with Swiss-based Lena Instruments.
Happy to announce our partnership w https://t.co/X8f8NYFhOU, #Crypto branch of https://t.co/SSG0Ls4Ha3 https://t.co/eWrlvjsiam
— LenaInstruments (@LenaBlockchain) September 23, 2021
Launching Delegation/FTSO on #Songbird #FlareNetwork among other things.@FlareNetworks @HugoPhilion @CommunityFlare
Within this collaboration, all of DelChain's clients with Spark (FLR) and Songbird (SGB) bags will be able to delegate them through Lena Instruments' infrastructure.
On Flare (FLR) and its "canary network," Songbird (SGB), Flare Times Series Oracles (FTSOs) act as validators in proof-of-stake (PoS) and similar systems. They receive periodic rewards for transferring and confirming in-blockchain data.
Bruno Macchiali, CEO of Delchain, states that this announcement is the result of a partnership between his firm and 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.
SGB token trading launch is in the cards
Lena Instrument itself holds a position in both products in the form of tokens, so this partnership looks natural for its business strategy, according to Mona Bürkle, head of business development at Lena Instruments:
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 such, FLR and SGB holders can earn yields on their delegated tokens through an institutional-grade IT services vendor.
As covered by U.Today previously, due to SGB listing on Bitrue exchange, its holders will be able to trade them against XRP and U.S. Dollar Tether (USDT) from Sept. 27.