Staking and Unstaking
Last updated
Last updated
Staking is the process where the user stakes wFLR, FLR, or both with Sceptre. In return, the user will receive sFLR against the sFLR/FLR exchange rate at that moment.
This starts with the user having wFLR and/or FLR in their wallet and connecting to the Sceptre dApp.
In the second step the user initiates the staking procedure by choosing the type of (w)FLR and an amount of (w)FLR to stake and clicking the Stake.
Now Sceptre will stake the (w)FLR, mint sFLR, and put the sFLR in the user's wallet.
If the user wishes to unstake they will start the unstaking process by
Going to the unstake tab, choose the amount of sFLR they wish to unstake, and click unstake.
When completed the cooldown period of 14.5 days will start. It is 14.5 days because the minimum stake period on the Flare network is 14 days. The 0.5 days is to ensure the wFLR is waiting for the user.
Once the wFLR has been unstaked the user can claim their wFLR from the Requests tab by clicking claim.
During claiming the wFLR is added to the user's wallet and the related sFLR is burned.
If the user does not claim their wFLR it is restaked after the 2-day redemption period. The user will be able to reclaim their sFLR from the Requests tab by clicking reclaim. This option does not expire.
