Sifchain Overview
Sifchain is the omni-chain solution for DEXs. More performant, more robust crypto economics for trading and security, more flexible trading capabilities, an extensible omni-chain roadmap and eventual true DAO governance.
SifDEX is a decentralized exchange that enables users to swap digital assets from a wide variety of blockchain ecosystems in one place, by connecting all major blockchains together using advanced bridging technology that is called ‘Peggy’.
Project Development
On the roadmap below, you can see all the major milestones Sifchain reached in 2021 and the company’s goals set for the year 2022.
Sifchain Team
The project has a diverse and talented team of operators, business developers, and marketers who bring with them experience as legal experts, financial advisors, financial engineering experts and PE/VC experienced professionals. The team members are seasoned veterans with executive experience at firms like a major cryptocurrency exchange, a major Web 2.0 VC, and a Tier 1 Silicon Valley law firm. The team has extensive experience in the crypto space, especially with exchanges, and can speak to years of experience and connections in the global cryptocurrency community, including strong ties in the US, EU, and Asian markets.
The Sifchain product team is composed of experts ranging from crypto-economic researchers, cryptocurrency traders, fintech industry veterans, and experienced cryptocurrency product managers. The team has strong experience working on cornerstone projects, delivering performant and scalable end products at multiple FAAMG companies and notable cryptocurrency projects.
The Sifchain all-star team of over a dozen senior engineers includes blockchain architects and developers who have worked on industry-renowned projects such as Thorchain, Cosmos, and Polkadot, as well as massively scaled distributed systems outside of the blockchain industry. The engineering team also has strong experience with full-stack development, complex systems, economic modeling, financial engineering, security, and other disciplines related to blockchain.
$ROWAN
The Rowan is the functional token of the Sifchain network.
ROWAN is the native currency of Sifchain, and has a variety of uses within the ecosystem:
- ROWAN is the universal liquidity pairing token of SifDEX. To enable swaps between tokens, each asset is paired with ROWAN to make an LP pool. As such half of the TVL of the DEX is made up of ROWAN. As TVL expands, demand for ROWAN expands with it.
- ROWAN is also central to the crypto-economic security of Sifchain. Node validators should stake an amount at least equivalent to the TVL of the DEX, to ensure that the network is secure and the cost of malicious activity (slashing) is not worth anything a validator can gain from fraudulence — as per Tendermint consensus.
- As such, there is a multiplier effect from additional TVL on the Market Cap of ROWAN. As TVL on the DEX rises, half of the TVL must be made from ROWAN. To secure this, an amount at least equal to the TVL should be bonded by Validators. Thus, for every $1 of any external asset added to SifDEX, $3 of ROWAN is required by the system.
- Node validators must bond ROWAN to compete to enter the validator pool. Only the top 100 validators (ranked by number of ROWAN staked) are able to earn block rewards. Block rewards are paid in ROWAN.
- Transaction fees for Swaps and Transfers are paid in ROWAN.
- Rewards for liquidity provision are paid in ROWAN.
To see the full tokenomics click here.
About Sifchain
A primary constraint for existing decentralized exchanges is that they limit investors to a small subset of blockchain ecosystems. Another constraint is that they are slow and charge high fees due to the performance limitations of their underlying blockchain. To capture the full market, an omni-chain solution on a more performant blockchain is needed.
Sifchain is that solution. Built with the Cosmos SDK, Sifchain processes substantially more transactions per second than Ethereum, making it 100x more efficient than the current leading DEXes. Sifchain uses Thorchain as a reference implementation and uses pegged tokens to support a wide array of blockchains. Sifchain will support cross-chain transactions for 20–25 of the top blockchains such as Bitcoin, BinanceChain, Polkadot, and EOS. These blockchains represent the overwhelming majority of all cryptocurrency trading volume. In addition, Sifchain will support an on-chain governance process for developing additional pegged tokens for new blockchains as needed.
To learn more about the Sifchain project visit their official website.
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About Citadel.one
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