August has flown by, and we have plenty of highlights to share from Sceptre's month. From big changes to hot initiatives, this recap is packed with everything you need to know about what we've been up to. Join us as we dive into the key moments that shaped our month of August 2024.
Sceptre is simpler
So the biggest change of the month is, undoubtedly, the end of the 30-day reward distribution. This was by far the issue raising the largest number of questions among users in our community so we 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, we 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.
Since FlareDrop and rewards distributions affect the FLR vs sFLR exchange rate, we also wrote an extensive blog post about it and added a rewards tab to the app so everyone can keep track of it.
Staking on Sceptre reopens on September 7th, right after the FlareDrop is added to the pool.
Sceptre’s AMA
Flare kicked off a series of Ask Me Anything (AMA) sessions on their Discord on August 9th, and our core contributor, Lex Elhorst, was the inaugural guest. Lex shared insights, answered questions, and provided valuable information to the community. Although his AMA is no longer available, we’ve added the more pertinent questions to our FAQs page.
The Flare Factor
Also introduced in August was The Flare Factor, a fortnightly event hosted on Sceptre’s X covering the many things happening in the Flare ecosystem. Our 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. This talented group provided valuable insights and engaged with the community, which used Discord to ask questions.
All Flare Factor episodes will be available on Sceptre’s YouTube channel and you can watch (or rewatch) the first episode here:
August 2024's numbers
380M - the amount of sFLR supplied to Kinetic since it launched on August 7th, making it sFLR holders’ favorite protocol to earn yield on their liquid staking token.
780M - the amount of FLR staked on Sceptre. Staking will reopen on September 7th and we can hardly wait. Will we be able to reach our first billion Flare staked before it closes again?
13M - sFLR’s market cap in US Dollars as of writing this and a testament to the trust our community puts in us.
100 - the number of subscribers we hit on YouTube! While this may seem small compared to our other achievements, every subscriber counts. If you haven't already, please subscribe to our channel and help us continue to expand our reach.
We hope your month of August was as intense as ours. See you all in September!