BlazeSwap Supports Sceptre's sFLR Tokens on Flare DEX

BlazeSwap, a leading DEX on the Flare network, has announced support for Sceptre's sFLR tokens.

Learn how this integration allows for immediate token exchanges and liquidity benefits, bypassing the standard 14-day waiting period.

Dive into the details of how sFLR tokens can enhance your DeFi experience on Flare with BlazeSwap.

BlazeSwap Adopts Staked FLR (sFLR) Tokens

On June 6, 2024, BlazeSwap, a decentralized exchange (DEX) on the Flare (FLR) network, announced its support for Staked FLR (sFLR) tokens issued by Sceptre, Flare’s first liquidity staking protocol.

Sceptre, developed by Rome Blockchain Labs, is the inaugural liquidity staking protocol on Flare.

It allows users to leverage their tokens in DeFi (decentralized finance) services while simultaneously receiving "native rewards from Flare" and "monthly FlareDrop rewards."

This service enables users to receive "sFLR tokens" by staking FLR tokens, and now BlazeSwap has integrated support for these sFLR tokens.

Advantages of Using BlazeSwap

When unstaking from Sceptre, a 14-day waiting period is required. However, by using BlazeSwap, users can exchange sFLR for FLR or WFLR without waiting the two weeks.

Additionally, by providing liquidity for sFLR, users can benefit from swap fees and FTSO rewards from the sFLR/WFLR pool. Since sFLR and WFLR are tokens of equal value, the risk of impermanent loss (*1) is virtually zero.

(*1) Impermanent Loss: The potential loss incurred by liquidity providers due to token price fluctuations after depositing tokens into a liquidity pool.

Exchanging sFLR tokens can be done through BlazeSwap’s "Swap" feature, while providing liquidity can be done via the "Pool" feature.

It is noteworthy that, as of the time of writing, Sceptre’s project is in its beta phase, and users are advised to proceed at their own risk according to the official website.

>> BlazeSwap is here
>> Sceptre is here