With our efforts concentrating on developing upcoming features for Sceptre - that will hopefully be announced very soon - November was calmer than usual. With that being said, we still had some big news this month worth looking into.
Rewards, rewards, rewards!
For the first time ever, we added a third kind of “reward” to the Sceptre pool: buy-in staking fees. Introduced last month alongside the buy-in staking period and currently fixed at 4.4%, these fees allow anyone to stake on Sceptre at any time while preventing the exploitation of the way rewards and FlareDrops are distributed. During our first buy-in staking period, we collected over 947,000 FLR tokens, which were added to the pool alongside the November 6th FlareDrop and helped increase the value of your sFLR.
AMAs on Telegram in November
We have a very curious community (thankfully) and this month we ran a couple of AMAs on our Telegram to answer all questions our users had about the way Sceptre works and what to expect from our protocol in the future. Expect more AMAs on our and, potentially, on partner channels as well.
The Flare Factor
This month, we had the pleasure to welcome back Jake, from Kinetic, to the Flare Factor . The episode took place just a few days after the platform was the target of an exploit (thankfully, stopped in time), so that ended up being an unavoidable subject. However, we still had time to talk about a ton of upcoming features to the platform and answer some of our audience questions.
2 weeks later, we hosted Darren, Project Manager at Ēnosys, the first DEX on the Flare Network. Darren kindly walked us through their V3 DEX and talked at length about the role sFLR plays on the platform. You can find both episodes on our YouTube channel.
This month’s numbers
$20M+ - sFLR’s market cap following the recent crypto market run, the highest so far.
200 - we’ve finally crossed 200 subscribers on YouTube (and 3.000 views!)! Thank you for subscribing!
42.90% - Sceptre’s current and pretty appealing APY!
112,296,583 - the total amount of FLR added to the pool via rewards, FlareDrops and buy-in fees since Sceptre launched in July.
Opportunities to use sFLR
Before we go, remember that the sFLR you get for staking on Sceptre doesn’t have to sit on your wallet! There are plenty of protocols across the Flare network where you can put those tokens to good use and generate more yield on them:
Kinetic - a digital assets lending and borrowing protocol on the Flare Network. Your sFLR can be used as collateral to borrow other cryptocurrencies. Follow this link to learn how to get started on Kinetic. Link: https://kinetic.market/
Rainlang/Raindex - an on-chain orderbook contract that enables users to deploy complex, on-chain strategies for managing token trades. Josh, from Rainlang, walked us through the protocol on The Flare Factor. Not to mention the ready made strategies available. Link: https://raindex.finance/
SparkDEX/Steer - SparkDEX and Steer offer liquidity pools where you can become a liquidity provider. The one sides sFLR pool with smart features for better returns can be found here.
Enosys - A v3 DEX on the Flare network where you can participate in liquidity pools.
BlazeSwap - A well known DEX on the Flare Network with liquidity pools you can participate in.
See you next month!