Sceptre, a brand new liquid staking protocol for the ‘blockchain of data’, Flare, has launched in non-public beta.
Designed to maximise FLR yield, Sceptre will allow customers to make use of their tokens in DeFi protocols whereas additionally persevering with to assert native Flare rewards and month-to-month FlareDrops.
The Sceptre protocol has been developed by Rome Blockchain Labs (RBL), who’re concurrently constructing the lending and borrowing platform Kinetic. The 2 protocols will operate hand in hand to assist maximize the performance of the FLR token.
Flare, which is billed because the blockchain for information, has three native reward mechanisms:
- Staking to infrastructure suppliers to help community consensus and safety
- Delegating to the Flare Time Sequence Oracle to help the supply of decentralized information to the community
- Receiving month-to-month FlareDrops for community participation.
Hugo Philion, co-founder of Flare, welcomed Sceptre to the ecosystem:
“The Flare tokenomics, and particularly the 36 monthly FlareDrops that will run until January 2026, are weighted heavily towards the community, with almost 60% of all tokens destined to them. With Sceptre and liquid staking, builders can take advantage of this attractive environment knowing that potential users of their dapps will still have access to these native rewards.”
With liquid staking, holders can proceed to obtain these rewards whereas additionally utilizing the liquid staked variant, sFLR, to earn further yield in different protocols. This will increase the useful liquidity of the FLR token, making a extra engaging constructing atmosphere for builders.
Customers begin by staking their FLR with Sceptre and receiving sFLR in return. The sFLR continues accumulating the Flare native rewards whereas offering full liquidity. When unstaked from the platform, the person receives their preliminary stake plus rewards and FlareDrops, minus a protocol charge.
Initially Sceptre will allow customers to make use of sFLR to take part in lending protocols and dex liquidity swimming pools, however RBL has indicated that additional use instances are additionally within the pipeline.
Asserting the launch of Sceptre’s non-public beta, Alexander Elhorst, COO of Sceptre, stated:
“Flare is a young and energetic network. Liquid staking will allow the growth of its DeFi ecosystem to accelerate even further. We see a bright future for the chain and want to help build it. We are happy to offer the first liquid staking protocol on the network and are looking forward to working with other ecosystem projects to integrate sFLR.”