Sceptre, a new liquid staking protocol developed by Rome Blockchain Labs (RBL), is now live in private beta on the Flare blockchain.

This innovative protocol is designed to maximize the yield of the FLR token by enabling holders to participate in decentralized finance (DeFi) protocols while still claiming native Flare rewards and monthly FlareDrops.

Flare network features three native reward mechanisms: staking to infrastructure providers, delegating to the Flare Time Series Oracle, and receiving monthly FlareDrops.

Sceptre integrates these mechanisms by allowing users to stake their FLR tokens and receive a liquid staked variant, sFLR.

This sFLR token not only continues to accumulate native rewards but also provides liquidity for use in other DeFi activities like lending protocols and dex liquidity pools.

Hugo Philion, co-founder of Flare, expressed enthusiasm about Sceptre’s introduction to the ecosystem, highlighting the community-focused tokenomics of Flare, which allocate nearly 60% of all tokens to community members through FlareDrops until January 2026.

Philion noted that Sceptre would allow developers to build on Flare while ensuring users maintain access to these rewards.

Alexander Elhorst, COO of Sceptre, commented on the protocol’s launch, emphasizing the potential for accelerated growth within Flare’s DeFi ecosystem due to the introduction of liquid staking.

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.

The post Sceptre launches liquid staking on Flare to maximize FLR yield appeared first on Invezz

Similar to Notcoin - Blum - Airdrops In 2024

origin »

100 +