Rome Recap: August 2024

August was a whirlwind of activity at RBL! From updates to exciting new product launches, there's plenty to recap. Join us as we dive into the highlights of the month.

Sceptre

August was a busy month for Sceptre. The biggest news was arguably the changes to the platform, which saw the end of the 30-day reward distribution. This was by far the issue raising the largest number of questions among Sceptre users so our team had to make the necessary changes to address it. Revealed on August 2nd and introduced a few days later with the August FlareDrop, Sceptre now adds FlareDrops in their entirety to the pool as soon as they take place. To make things fair for everyone staked, Sceptre also introduced a 7-day staking period followed by a 23-day no-staking period during which Flare takes random screenshots to calculate the amount users receive in the next FlareDrop. This makes the distribution process simpler to explain while keeping it fair for everyone staked on Sceptre.

Another huge thing happening in the Sceptre-verse was The Flare Factor, a fortnightly event hosted on Sceptre’s X covering the many things happening in the Flare ecosystem. The inaugural episode featured an impressive panel of guests: Max Luck from Flare, Santiago Velez from XDFi, Jake Hunsbusher from Kinetic, and our own Lex Elhorst. You can watch the first episode of The Flare Factor right here:

Kinetic

After several months of hard work, Kinetic was finally introduced to the world on August 7th. Developed by our team, Kinetic is a cutting-edge lending and borrowing platform designed to provide liquidity to the thriving Flare Network ecosystem. It combines advanced technology with a user-centric approach, and offers a seamless platform for users to earn, borrow, and grow their digital assets.

In less than a month, Kinetic managed to attract close to $9M in deposits, roughly $6,5M of which in the form of Sceptre’s liquid staking token sFLR. The platform also supports stablecoins USDC and USDT, with USDX coming soon.

Rome Blockchain Labs will keep developing new features for Kinetic, despite the protocol being operated by a third party entity.

Rome Blockchain Labs

Our new website is finally online and it looks gorgeous, doesn’t it? Our team poured their heart and soul into this thing, and we couldn't be happier with how it turned out. A few tweaks here and there, and we'll be good to go. We hope you enjoy exploring the site and learning more about what we're up to at Rome Blockchain Labs.

Thanks for checking out our August highlights! September promises to be another exciting month. Subscribe to our blog and follow us on X and LinkedIn to stay in the loop.