Unstaking from Sceptre for Flare

Liquid Staking exists so you can use your assets to access locked liquidity. When you liquid stake, you receive liquid staking tokens (LSTs) in exchange for staking your assets. This LST represents your original deposit and a yield on top of that for as long as you keep your assets staked. In the case of Sceptre, you receive sFLR in exchange for the FLR or wFLR tokens you stake and the yield they generate in the form of FlareDrops and staking/ delegation rewards.

In this blog post, we will guide you through the unstaking process and tell you exactly what happens after you decide to unstake from Sceptre. No, you won’t be getting a message telling you “we are sorry to see you go” and asking you for your feedback on the experience (although we’d love to hear it). Instead, we want you to be informed on every step of the Sceptre liquid staking process.

What happens when I unstake from Sceptre?

When you choose to unstake from Sceptre for Flare, your sFLR will be returned, and you'll receive the equivalent amount of wFLR based on the current exchange rate. After a 2-week (14.5-day) unbonding period, your wFLR will become available for claim in the "Requests" section of the app. You will have 48 hours to claim the wFLR back to your wallet. An option to add the event to your calendar is provided to help you remember to claim your tokens.

Hold up, why do I have to wait 2 weeks to get my tokens back?

FlareDrops on Flare’s P-Chain are distributed after each staking period ends, with each staking period lasting for 2 weeks. For this reason, there is a 14-and-a-half-day unstaking cooldown period. The remaining half day ensures your funds are available when you claim them.

That’s a long time. What if I don’t have 2 weeks?

If you feel like 2 weeks is too long, there are alternatives like swapping sFLR for FLR on a DEX (depending on the availability of pools) or supplying it as collateral on a market that takes sFLR, like Kinect, and borrowing against it. As the Flare network develops, alternative DeFi platforms will surely develop.

What happens to my stake during those 2 weeks?

During the 2-week cooldown period, your stake will keep accruing rewards, which you will receive once that period is over.

What happens if I forget to claim my tokens within 48 hours?

If you forget to claim your wFLR within 48 hours, it will be automatically restaked and you will have to unstake it again. Don’t forget to add the claim reminder to your calendar to prevent this.

We promised we weren’t having a “sorry to see you go” message, but we hope you keep your FLR and wFLR staked with Sceptre for a long time. Should you not, we hope this article helped clear out any doubts you had. If you still have any questions, feel free to reach out through our Telegram channel.