Rome Blockchain Labs (RBL) is currently working on developing Sceptre, a blockchain for data platform that is currently in its private beta phase. Alongside this, they are also focused on creating Kinetic, a platform for lending and borrowing. The aim is to ensure that the FLR token functions optimally by integrating these two protocols seamlessly.
Flare, the underlying blockchain network, incorporates three native reward mechanisms. The first is the delegation of tasks to the Flare Time Series Oracle, which facilitates the provision of decentralized data to the network. The second is staking, where infrastructure providers are encouraged to contribute to the network’s security and consensus. Lastly, participants receive monthly FlareDrops as a reward for actively engaging with the network. Those who utilize liquid staking have the opportunity to earn additional yield in other protocols by using the liquid staked form of the FLR token, known as sFLR. This not only allows for greater liquidity, but also makes the development environment more appealing for developers.
In the near future, sFLR will be primarily utilized for participation in lending protocols and dex liquidity pools. Users can start by staking their FLR with Sceptre, which in turn generates sFLR for them. While retaining full liquidity, the sFLR continues to accumulate native Flare rewards. When users decide to unstake their tokens from the platform, they will receive their original stake along with the incentives and FlareDrops they have earned, albeit with a small protocol fee deducted.
Hugo Philion, one of the co-founders of Flare, expressed his excitement about the integration of Sceptre into the ecosystem. Similarly, Alexander Elhorst, the Chief Operating Officer of Sceptre, emphasized the positive impact that this collaboration will have on the network.
Overall, the partnership between RBL and Flare aims to enhance the functionality of the FLR token through the integration of Sceptre and Kinetic, while also providing users with attractive incentives and rewards for their participation in the network.