October was another huge month for Sceptre, marked by the biggest protocol change to date. We also kept our community engaged with new tutorials and Flare Factor episodes. If you missed out, here's a recap of what happened.
Flare staking on Sceptre open at all times
"The biggest news this month was the reopening of Flare staking on Sceptre. Previously, staking was paused during the FlareDrop calculation period. While fair, this proved impractical. To address this, we introduced a new system that allows continuous staking, but with a 4.4% fee during the FlareDrop calculation period. For more details on this change and the reasons behind this fee, check out this blog post or watch the explainer video we made about it.
Flare staking paused on October 31st
One exception to staking on Sceptre opened at all times took place on October 31st, after Kinetic’s security partner detected an exploit on the protocol. While this exploit turned out to not be related to Sceptre, staking on Sceptre was paused as a preventative measure while Kinetic investigated and got to the bottom of the problem. Staking resumed later that day after we gained more insight into the exploit. We'll share any official report from Kinetic with our community as soon as it's available.
Protocol tutorials
This month, we launched a series of tutorials to help you maximize the yield on your sFLR. We've started with the most popular protocols: Kinetic and SteerProtocol. Stay tuned for more tutorials on other exciting platforms that support our liquid staking token!
The Flare Factor
Our fortnightly show on X continues to deliver insightful interviews! In October, we had the privilege of hosting Steve 0x, the lead developer of SparkDEX, and JD Gagnon, co-founder of Rome Blockchain Labs, the company that developed Sceptre. Both were fantastic guests and answered a TON of our viewers’ questions. If you missed these episodes of The Flare Factor, you can find them on our YouTube channel.
This month’s numbers
28M+ - the number of FLR received via staking rewards (5.9M+) and FlareDrops (22M+) during October. You can check these rewards on the sRewards tab of the Sceptre app.
900.000+ - the number of FLR tokens collected via the 4.4% fee. All of these tokens are added directly to the pool, increasing the value of sFLR vs FLR.
See you next month!