So you’ve just staked on Sceptre, have a wallet full of sFLR and don’t know what to do with it? You’ve probably heard of Kinetic, a very popular option for sFLR holders to earn additional yield while keeping rewards and FlareDrops accruing on Sceptre. In this tutorial, we will walk you through the process of supplying sFLR to Kinetic.
Step 1 - Connect your Wallet
Of course, the first step will be to access the Kinetic app and connect your wallet by clicking on the button on the top right corner of the screen. Kinetic supports the most popular wallets around so simply select the one holding your sFLR from the pop up.
Step 2 - Supply sFLR
Next, click the Supply & Borrow button from the side menu. On the supply side, you will find the current Net APY (your total annual yield, combining returns from deposits and costs from borrowed assets across all markets), plus a drop down menu where you can pick the token you want to supply to Kinetic.
Select sFLR from the list (should be the default choice) and enter the amount you want to supply. Alternatively, you can pick a percentage of your sFLR holdings or simply click the Max button to supply everything in your wallet. Let’s leave the collateral button turned off (for now) and click Approve & Supply.
Step 3 - Confirm the transaction
After hitting Approve and Supply, your wallet should pop up in order for you to approve the transaction. Once the transaction is complete, you will be prompted to confirm again in your wallet that you wish to supply to Kinetic. After a few seconds, you’ll receive a confirmation. Your sFLR is now supplied to Kinetic, as you are able to confirm it on the Kinetic Dashboard, accessible from the side menu.
Bonus section
Claiming rewards on Kinetic
Kinetic rewards users with tokens simply for using their protocol. To claim these tokens to your wallet, start by clicking Rewards on the side menu. You will be presented with a list of protocol rewards offered by Kinetic, such as $JOULE and $Kii. Only claimable rewards will have a clickable button next to them. In the case of rFLR, clicking the Go Claim button will redirect you to the Flare Portal, where you can claim these rewards to your wallet in the Emissions tab once a month when Flare has filled the contract.
Once you click a Claim button, your wallet will open and ask you to confirm the transaction.
Withdrawing your sFLR from Kinetic
Last but not least, it’s always useful to know where you can withdraw your sFLR from Kinetic in case you need to use it on a different protocol, sell it or want to unstake from Sceptre. To do it, just go to your Dashboard and, under My Assets, click the Withdraw button.
Enter the amount of sFLR you want to withdraw and click Withdraw. This will open your wallet and ask you to confirm the transaction. Keep in mind that since this transaction takes place in the Flare Network, you should have some FLR in your wallet to cover the gas fees.
Kinetic is a very easy to use platform and a great way to extract some yield from your sFLR tokens. It’s arguably the most accessible of the protocols accepting sFLR and a great way to start exploring the sFLR use cases.