Rome Recap: October 2024
We go over some of the highlights of October at Rome Blockchain Labs.
October was a whirlwind at Rome Blockchain Labs. While we're keeping our next big project under wraps, our liquid staking team made significant strides. Let's dive into their highlights.
Sceptre
October was a huge month for Sceptre, with the protocol introducing its biggest change to date: Flare staking open at all times. Previously paused during the FlareDrop calculation period to prevent gaming, staking became open at all times following October’s FlareDrop. The caveat? Stakers during the calculation period need to pay a 4.4% fee to offset any discrepancies for potentially not contributing to the pool due to missing the snapshots Flare uses to calculate rewards. On the flipside, 100% of the value collected through these fees goes directly to the Sceptre community pool, thus increasing the value of everyone’s sFLR against FLR.
For more details on this change and the reasons behind this fee, check out this blog post or watch the explainer video our team made about it:
As usual, the Sceptre team hosted a couple of Flare Factor episodes during October and this month they had RBL’s co-founder JD Gagnon and Steve 0x, lead developer at SparkDEX on the show. Both were fantastic guests and answered a lot of viewers’ questions. You can catch both episodes on Sceptre’s YouTube channel.
Kinetic
On October 31st, Kinetic’s security partner detected an exploit on the protocol. The exploit was, thankfully, detected and acted upon on time, but we had to pause staking on Sceptre while the situation was being resolved. If you want to learn more about what happened, you can check JD’s explanation here and also check the measures the Kinetic team has put in place to increase the protocol’s security.
See you all next month!
