Swapping is now available on Sceptre for Flare

Sceptre for Flare's latest update introduces integrated swapping, enabling direct exchanges between FLR/WFLR and sFLR in both directions. This new feature opens a couple of advantages to the user, which we’ll cover in this blog post along with how swapping works, the technology powering it on Sceptre and key considerations before you use it.

What is swapping?

Swapping enables token-to-token exchanges. Sceptre's swap feature is powered by OpenOcean, a multi-network DEX aggregator that scans multiple decentralized exchanges to secure the best possible rate for your trade. On Flare, OpenOcean compares rates across SparkDEX, Enosys, and BlazeSwap, automatically routing your swap through whichever offers the most favorable exchange rate.

You can now choose between staking or swapping. The amount of sFLR you receive is displayed on the corresponding box.

What are the advantages of swapping?

Sceptre's swap feature may unlock two strategic advantages to the user:

• Swapping instead of Staking: Before staking your FLR, you can now compare the swap rate. Depending on market conditions, swapping directly for sFLR may yield more tokens than the standard staking process - essentially, you could be getting more sFLR for the same amount of FLR/WFLR.

• Swapping instead of Unstaking: Unstaking from Sceptre is subject to a 14.5-day cooldown period. As we’ve covered before, swapping your sFLR back to FLR bypasses this wait entirely, and now you can do it directly on Sceptre without having to visit a DEX.

Keep in mind: when swapping (either FLR/WFLR to sFLR or sFLR back to FLR/WFLR), you're using the real-time market rate from DEXs aggregated by OpenOcean instead of Sceptre's internal exchange rate. Sceptre's rate is stable and only updates when staking and delegation rewards, and FlareDrops are added to the pool, while DEX rates fluctuate continuously based on market supply and demand.

Are there any fees for swapping?

Swapping fees apply as always.You'll also pay standard Flare network gas fees for the transaction, which typically amount to a fraction of a FLR token.

We hope you find this new feature useful. Don’t forget to follow us on X, Telegram and Discord to keep up with future updates.