Introducing Sceptre on Flare

We are proud to announce the launch of Sceptre, the first liquid staking protocol on the Flare Network.

Brought to you by the same team behind Kinetic Market and BENQI, Sceptre’s liquid staking token (sFLR) is available to all users on the Flare Network at an initial exchange rate of 1:1, a ratio that will soon increase as rewards like validator yield and “Flare-drops” accumulate in the protocol. You can learn all about how to liquid stake with Sceptre in this blog post.

To ensure a smooth and successful launch, the Sceptre team has been rigorously testing the dApp on Flare mainnet for several weeks across numerous risk and technical partners. Additionally, a close beta phase was launched for Sceptre's "early birds" and the Flare team, where they were able to successfully stake and mint sFLR pre-launch.

Through a series of collaborations within the Flare network, Sceptre addresses 3 essential areas:

• Security: The core Sceptre team is working with Ledger Works and Hypernative to monitor Sceptre and the broader Flare DeFi ecosystem, ensuring protocol safety and stability.
• Integration: Sceptre is integrating with key partners to make sFLR a standard for DeFi on Flare:
  • Hex Trust, a licensed digital asset custodian, to allow their clients to securely hold sFLR.
  • Rainlang/Raindex, to empower users to create automated investment strategies using sFLR.
  • Kinetic Market, to enable their clients to use sFLR as collateral for loans.
• Liquidity: We are committed to provide users easy access to their sFLR:
  • An sFLR/FLR pool will be created on Blazeswap to allow users to instantly swap their sFLR for FLR if they don’t want to wait for the unstaking period to end (to learn more about unstaking, check Sceptre’s FAQ). 
  • Flare fully supports Sceptre and its community by supplying the necessary assets to the DEX pool, thus ensuring its stability.

“As we work with Rome Blockchain Labs to help assemble the foundational blocks for DeFi on Flare, we are excited to see these growing advancements and synergies between partners coming to fruition. Building alongside long-standing Flare native dApps such as Blazeswap, integrated with newer groups such as Sceptre, Raindex, and Hex Trust,  gives all of us the opportunity to showcase the many strategies and possibilities that are coming to the Flare Network and its users in 2024.”

- Lindsay Ironside, Core Contributor, Kinetic Market

To start using Sceptre on Flare, follow this link to the app. Sceptre seamlessly integrates with popular browser wallets like MetaMask and WalletConnect for wallets like Bifrost.

Sceptre’s main goal is to ensure the most attractive yield opportunities for our users while contributing to the stability and success of the Flare Network. The platform will expand staking and delegation functionality beyond the p-chain to the c-chain, stabilising the APRs to allow FLR deposits on both chains. To stay on top of news about Sceptre, follow us on X and join our Telegram group.