Frequently Asked Questions
Sceptre is the Liquid Staking solution on the Flare network created in cooperation with Rome Blockchain Labs. Sceptre aims to ensure the best possible return for the user while providing a safe and secure way to stake your assets.
Sceptre stakes the assets provided and in return mints its Liquid token (sFLR) for the user to use in other protocols. While staked, Sceptre claims the Staking/Delegation rewards and FlareDrops for the users.
You can click here to find our Gitbook.
Unlike APR (Annual Percentage Rate), APY (Annual Percentage Yield ) takes compounding into consideration (rewards over rewards if you will). What we get in rewards we stake again, constantly increasing the size of the pool of rewards. So, the basis of the APY calculation is the APR with the added effect of compounding.
This is an estimation and it can be affected by many factors on the network, like the amount of tokens burned and how fast users claim and compound their rewards. For now, an estimation is the best we can do but I hope that with more data we will be able to provide better indicators.
General
You can track the DEX price of sFLR on Coingecko. However, the unstake price on Sceptre is likely higher but requires the 14.5 day cooldown before collecting your wFLR.
Sceptre Staked Flare (sFLR) is the liquid staking token that you receive for staking FLR or wFLR on Sceptre according to the current exchange rate.
Your sFLR can be used in a variety of protocols across the Flare Network. These include swaps, liquidity pools and yield farms and lending platforms. You can find a list of protocols accepting sFLR on our homepage.
If your wallet allows it, yes. Here are the details you need:
Token address: 0x12e605bc104e93b45e1ad99f9e555f659051c2bb
Decimals: 18
Network: Flare
FlareScan: Staked FLR
The exchange rate changes every time rewards or FlareDrops are added to the Sceptre pool. FlareDrops have a schedule you can find here. Staking rewards only have an approximate schedule so it’s harder to know exactly when they will be added to the pool.
Staking or unstaking on Sceptre mints and burns sFLR in a proportion corresponding to the current exchange rate. Since this minting and burning is proportional, the exchange rate remains unchanged. However, adding FLR to the Sceptre pool via rewards and FlareDrops does not mint any sFLR. Since the number of sFLR tokens doesn’t increase, the exchange rate of sFLR vs FLR increases to make up for it.
Sceptre can only see the sFLR in your wallet and not the sFLR that you might have in another protocol. If you've supplied sFLR to another protocol, it's no longer in your wallet as sFLR but in the protocol you supplied your sFLR to. It will not show up in the Sceptre UI but you will be able to see it in the UI of the protocol you supplied to.
Sceptre uses both the p-chain and c-chain, but most rewards added to Sceptre's pool come from the p-chain.
Sceptre adds Staking rewards, which are the rewards FLR gets when it is staked with a Validator node on the p-chain. Sceptre also adds Flare Drops to the pool. These exist on both the p-chain and the c-chain. Because most of the FLR in Sceptre exists on the p-chain most of the time, most FlareDrop rewards in Sceptre come from the p-chain. A small amount can come from the c-chain as the sFLR contract holds wFLR when it is staking to nodes or when it is waiting to be claimed by someone who is unstaking.
Sceptre may also add Delegation rewards when wFLR resides on the c-chain in the sFLR contract or, in the future, in Sceptre-related wallets that delegate to FTSO's on the c-chain. Currently, this is not happening but we expect this to happen in small amounts in the near future.
sFLR
For staking with Sceptre, you receive in your wallet a liquid staking token (sFLR) according to the current exchange rate. You can use this token on other protocols across the Flare Network.
The Sceptre protocol will determine where to stake. We do not have our own validator nodes and don’t plan to have any. They are evenly distributed amongst the nodes that fall within the criteria of uptimes, fees, and APYs. Our goal is to provide the best possible return for our users, against the lowest possible risk.
While that’s true for individuals staking on the p-chain, that is not an issue for staking with Sceptre. There is no minimum amount of FLR or FLR to stake with Sceptre.
You can't currently vote for Flare FIPs while holding sFLR.
No. The wFLR that you staked with Sceptre is staked on the p-chain and no longer in your wallet. FLR can be staked or delegated to 1 chain at the time, be it p or c-chain.
Currently, we only stake to the p-chain but, in the future, we plan to balance the yield and also delegate on the c-chain. It will be needed when the amount of FLR on the p-chain increases so much that the APR of the p-chain goes below the APR of the c-chain.
Liquid Staking does not just stake assets on behalf of the users - it also gives a LST (Liquid Staked Token) in return. In the case of Sceptre, this token has the value of the staked token (FLR) multiplied by the exchange rate of sFLR vs FLR. Liquid staking allows you to use your liquidity (assets) in other protocols to earn extra yield or borrow against without losing your rewards from staking (and FlareDrops).
Staking
To unstake from Sceptre, connect your wallet and return your sFLR to the Sceptre pool.
After a 2-week (14.5-day) waiting period, you will receive your original stake in the form of wFLR. You also receive proportional rewards accrued during the staking period minus a 10% fee on the rewards.
The minimal staking period on the p-chain is 14 days. 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.
If you don’t want to wait for the cooldown period to end, 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.
Yes, rewards are accrued during the 2-week cooldown period and are counted until the moment you claim your wFLR.