Celebrate summer with these sFLR yield opportunities!
- Joel Monteiro
- Jul 7
- 4 min read
Updated: Jul 22
Summer's in full swing for most of us in the Northern Hemisphere, and while sunny days are calling, the real heat is at the yield! Before hitting the beach, we dove deep into the Earn tab on Sceptre for Flare to highlight the different ways you can put your sFLR to work. This is not financial advice but a dive into how you can enjoy your sFLR this summer!
Supply and Borrow on Kinetic
When we're talking about sFLR opportunities, you can't leave out Kinetic – it would be like summer without ice cream!
Sure, supplying on Kinetic only gets you a 0.79% APY (with 0.64% of that in rFLR), but if you're not keen on diving deep into DeFi, it's a super simple option: just connect your wallet, hit "supply," and you're good to go. Yup, it’s that easy!
Feeling a bit more daring? You can also try your hand at borrowing from Kinetic – if the borrowing caps are open, that is! These caps get updated regularly by Kinetic, but they're in seriously high demand and get snapped up fast. If you're keen to borrow, we highly recommend following Kinetic's official X account and keeping a close eye on their posts for cap updates.
Dive into Liquidity Pools on SparkDEX, Enoys and Blazeswap
If you've done your research and are ready to dive into the world of liquidity pools on Flare, SparkDEX and Enosys are your go-to protocols. They currently offer the most established and robust liquidity pools across the Flare network, making them excellent choices for providing liquidity.
On SparkDEX, the top 10 largest liquidity pools include a couple that support sFLR.
When diving into liquidity pools on SparkDEX, the sFLR-wFLR pool is a standout. It offers a very attractive current APR of 35.15%, significantly boosted by rFLR emissions, all for a mere 0.01% fee. This pool is also highly liquid, boasting over $1.83 million in TVL.
For those seeking even higher returns, the sFLR-flrETH pool with a 0.05% fee currently yields an APR close to 40%, with over 30% of that coming from rFLR. However, be aware that this pool has significantly lower liquidity, which translates to a higher risk profile.
Beyond SparkDEX, Enosys offers a robust selection of liquidity pools worth exploring. The highlight is their sFLR-wFLR pool, featuring a 0.05% fee and a compelling 36.27% APY, with incentives paid in rFLR. For all other available pools on Enosys, the incentives are distributed in Apsis (APS), Enosys's native token.
Finally, we have BlazeSwap, which lets you create your own liquidity pools with a token pair of your choice. For more information on BlazeSwap’s liquidity pools, follow this link.
It goes without saying: always do your own research before depositing your tokens into any liquidity pool.
If you're new to the world of liquidity pools, don't worry – we've got you covered with this blog post to help you understand the basics and navigate the risks!
Test your market skills with perps on SparkDEX or XDFi
Perpetual futures ("perps") are the newest addition to the growing list of sFLR use cases, now available on SparkDEX and XDFi. For those new to the concept, perps are a type of derivative contract that allows traders to speculate on an asset's price movements without actually owning the underlying asset. Unlike traditional futures, perps have no expiry date, meaning you can hold your position indefinitely, essentially betting on what an asset's price will be in the future.
We extensively covered perpetual futures (perps) when SparkDEX introduced them back in April. Since then, the sFLR perps pool has seen impressive growth, with its liquidity swelling to over $600,000. This makes it the largest collateral pool for perps on SparkDEX.
SparkDEX's perpetuals trading offers impressive flexibility, covering dozens of tokens with leverage options up to 100x. Beyond sFLR, you can utilize FLR, USDC, and USDT as collateral to open positions.
XDFi, on the other hand, allows you to speculate on Doge, Bitcoin, Ethereum and XRP using sFLR, wFLR or FLR as collateral. Comparatively, XDFi offers a more streamlined platform, with less options for perps trading, and liquidity is much lower.
Join Cyclo’s Liquidation Free Leverage
Finally, we have Cyclo, a pretty straightforward protocol: you simply lock your sFLR and mint cysFLR that can trade between $0 and $1. The protocol has a fixed amount of monthly rewards in the form of rFLR that’s distributed among a number of acquired cysFLR holders, with a current APY of 200%!
While trading cytokens comes with inherent risks, holding both your cy tokens and corresponding receipt tokens allows you to unlock your original collateral at any time, as Cyclo guarantees your unlock price through these receipt tokens.
However, if you choose to trade your cy tokens, you'll be exposed to their price fluctuations, which can range between $0 and $1. To regain your collateral later, you'll need to repurchase cy tokens at market price. It's important to note that Cyclo never forces trades or liquidations, giving you the flexibility to wait and recombine your tokens whenever you're ready to recover your original position.
Enjoy your summer of yield!
We've covered some of the most popular "summer" activities for your sFLR, but for a complete list of opportunities to boost your yield, always check the Earn tab on the app. Remember, you'll still accrue rewards and the FlareDrop, even when you're actively using your sFLR! That's the power of liquid staking!
Enjoy your summer!
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