Where can you use your sFLR?

So, you’ve just staked with Sceptre and got a bunch of sFLR tokens back in your wallet while your Flare or Wrapped Flare are accruing rewards. Now what? Where can you use your sFLR?

Staked Flare (sFLR) is a fresh face in the crypto world, but its potential uses are rapidly growing. Let's dive into some use cases where your recently minted sFLR can be put to work.

Ēnosys - Formerly FLR Finance, Ēnosys is a leader in blockchain technology that offers multi-chain blockchain applications. Their expertise with the Flare Network made them a perfect partner for Sceptre. sFLR is accepted on Ēnosys’ Farming Pools and on Ēnosys’ DEX, where it can be swapped or used in a liquidity pool.

sFLR Farming Pools on Ēnosys

If you’re not familiar with these concepts, please read about Yield Farming and Liquidity Pools before using your sFLR on Ēnosys.

Blazeswap - Blazeswap is the first open-source fully decentralized exchange on the Flare Network. A pioneer in the space, Blazeswap supports sFLR since day 1 and provides an sFLR/FLR pool that allows users to instantly swap their sFLR for FLR if they don’t want to wait for the unstaking period to end.

Steer Protocol - Steer Protocol is a decentralized compute platform that offers a robust infrastructure for processing data off-chain, thereby scaling the capabilities of on-chain applications. Steer Protocol lets users write apps in any language, connect them to any data feed and launch those apps on any blockchain. Flare is one of the 25 supported chains on the platform, and there are 10 pools accepting sFLR.

SteerProtocol offers several Smart Pools where users can deposit their sFLR

Sparkdex - Sparkdex is building the first AI-driven DeFi ecosystem on the Flare Network. They currently let their users swap sFLR for a variety of tokens supported in the Flare Network or use their sFLR paired with another token in their Liquidity Pools.

You can swap your sFLR for a variety of tokens on SparkDEX, including Kinetic's JOULE

Kinetic - Launching soon, Kinetic will be the premier lending protocol on the Flare Network, leveraging innovative advancements in FTSO (Flare Time Series Oracle), FAssets, and the upcoming LayerCake technology. Through Kinetic, users will be able to engage in permissionless lending and borrowing of digital assets on the Flare Network. sFLR will be supported for loans at launch, allowing users to use their sFLR as collateral to borrow other cryptocurrencies.

We will cover Kinetic in more detail when it launches, so stay tuned.

Raindex - Raindex is an onchain orderbook contract that enables users to deploy complex, onchain strategies for managing token trades.

Cyclo - Cyclo allows users to use sFLR  as collateral and access leveraging while keeping their sFLR position completely safe from liquidations. Cyclo offers sFLR holders the opportunity to mint cysFLR and use the token to earn rewards. 

XDFi - XDFi is a decentralized Futures contract trading protocol. If you’re not familiar with Futures contracts, they are agreements to buy or sell an asset on a specific date facilitated through a futures exchange, such as XDFi. In other words, XDFi pairs users predicting the price of one the assets available in opposite directions sometime in the future. Built entirely on Flare, XDFi supports FLR and sFLR. A key advantage of using sFLR is that it continues accruing rewards even when used within the protocol and you’ll be contributing to the security of the Flare network. If you want to learn more about XDFi and how to use this protocol, you should check the Flare Factor episode featuring Santiago Velez, XDFi’s co-founder:

Rubic - Rubic is a DEX aggregator that supports over 90 chains and promises to always give users the best rate possible when swapping tokens. Rubic allows users to swap any token for $sFLR, regardless of its native network, and vice-versa, and offers plenty of tools for developers to integrate its swapping capabilities into their own protocols.

Open Ocean - Like Rubic, Open Ocean aggregates several DEXes, although the number of networks on offer is smaller (as of writing this). Open Ocean doesn't support cross-chain token swapping, which means that you can only swap $sFLR for other tokens native to Flare or use these tokens to swap for $sFLR.

Oxen Flow - Oxen Flow is an iOS cryptocurrency wallet designed for the Flare network's specific functionalities, enabling users to securely and easily exchange Flare native tokens for $sFLR and vice versa.

This is just the beginning for sFLR! We'll keep this article updated as more exciting ways to use sFLR emerge. Follow us on X, Telegram, and Discord to be among the first to know about new developments.