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Rome Blockchain Labs and Flare Network Innovations

May 30, 2024

Rome Blockchain Labs (RBL) is currently working on the development of Sceptre, a private beta blockchain designed for a data platform. Simultaneously, RBL is also involved in the creation of Kinetic, a lending and borrowing platform. These two projects, Sceptre and Kinetic, are intended to complement each other to enhance the functionality of the FLR token. The collaboration between the two protocols aims to optimize the token's performance and utility.

Flare Network incorporates three native reward mechanisms to enrich its ecosystem. These mechanisms include delegating to the Flare Time Series Oracle for decentralized data supply, staking FLR to ensure network security and consensus, and earning monthly FlareDrops by actively participating in the network. Holders utilizing liquid staking have the opportunity to increase their yield in various protocols by leveraging the liquid staked form, sFLR. This approach not only provides additional incentives but also enhances the token's liquidity, thus creating a more appealing environment for developers.

The deployment of sFLR for lending protocols and dex liquidity pools is a step forward in expanding its usability in different applications. Users initiate the process by staking FLR with Sceptre, resulting in the generation of sFLR. Despite maintaining full liquidity, sFLR continues to accumulate native Flare rewards. When users choose to unstake from the platform, they receive their original stake along with incentives and FlareDrops, minus a protocol fee.

Hugo Philion, one of Flare's co-founders, expressed enthusiasm for Sceptre's introduction to the ecosystem, emphasizing the community-oriented tokenomics strategy and the significant allocation of tokens for community members. He underscored the benefits of liquid staking for builders, highlighting the ongoing distribution of FlareDrops until January 2026 as a key feature that supports the community.

Alexander Elhorst, the COO of Sceptre, highlighted the potential of liquid staking in accelerating the growth of Flare's DeFi ecosystem. He conveyed optimism about the network's future and Sceptre's role in contributing to its development. Elhorst also expressed readiness to collaborate with other projects within the ecosystem to integrate sFLR, marking a new chapter in the network's evolution.

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