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