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GAINS Associates

Sifchain — Telegram AMA — September 10

On Friday, September 10, we had the pleasure to welcome to our Telegram chat:

Jared Moore, Community Member.

We asked him questions about the development of Sifchain.

Some sentences have been slightly edited for readability but the meaning has been conserved.


Sifchain is the Omni-chain solution for DEXes. More performant, more robust crypto economics for trading and security, more flexible trading capabilities, an extensible Omni-chain roadmap and eventual true DAO governance. Sifchain is the future of DeFi.

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.

Built with the Cosmos SDK, Sifchain processes substantially more transactions per second than Ethereum, making it 100x more efficient than the current leading DEXes. This equates to faster trades and lower fees.

The Continuous Liquidity Pool is Sifchain's primary financial primitive. Liquidity providers can earn income by providing liquidity in these pools. Swappers can send a transaction to a liquidity pool, trading tokens they have for those on the other side of the pool.


Q — Ayeley from GAINS: Please introduce yourself. What did you do before crypto and did you have any other previous venture in crypto?

A — Jared Moore from Sifchain: I’m Jared, the Director of Marketing for Sifchain. I’ve been marketing in the crypto space since 2017 with a few projects, and outside of crypto, I’ve also done advertising for e-commerce 🙌🏼


Q — Ayeley from GAINS: What is the Sifchain project about in a few simple sentences? How long have you been working on it and what was the inspiration behind it?

A — Jared Moore from Sifchain: It’s the *first*! IBC-enabled Omni-chain DEX built on the Cosmos SDK. (Built on Cosmos, we can connect any EVM-chain and Ethereum to the Cosmos ecosystem) We launched in February of this year, and the idea was to represent Sif (Norse goddess) as the wife-chain to Thorchain. Thorchain is great at connecting the “blue chips” so what if we could create a complimentary chain to connect all other chains and allow it to give back to its users in abundance? ☀️

Q — Twitter user @iracundito: I could read that one of the interesting things about Sifchain is that it supports asset pooling asymmetrically in DEX. Could you explain in practical terms what this means and how it benefits your users? What do you mean by “asymmetric pooling”?

A — Jared Moore from Sifchain: Of course! Traditionally symmetric pooling is becoming a liquidity provider by adding 50% of one asset and 50% of another asset (symmetrically). Asymmetric allows users to pool a single side of the pool if they choose to only add one side. Their rewards may be a bit lower, but if a pool is asymmetrically stacked, if you choose to be the one to help balance the pool, your rewards will increase!

Q — Twitter user @Godpelpa: Sifchain will reconsider the formulas used for liquidity pools algorithms from the first principles of complexity theory but why did they decide to change the current AMM model? What potential benefits will this formula change have on your DEX?

A — Jared Moore from Sifchain: The design space for AMMs is quite large. Check out what Curve, Dodo, Sushi, Uni, and others have done to make their AMMs unique. We believe experimentation and flexibility in this space are great. Our current AMM formula charges a slip-based fee rather than a flat fee like Uniswap. This means if a trade induces higher slippage, the fee is higher. That reduces fees for the average trade but increases revenue for poolers in an entire market cycle because in volatile times people will swap aggressively. Check out more research here and here.

Q — Telegram user Jose Gamboa: I like to think of Sifchain as a primitive encryption tool — many apps and tools can be built on top of it. What is the support that Sifchain gives to developers for the elaboration of dApps within its platform? Advantages of Sifchain?

A — Jared Moore from Sifchain: I do see it as primitive as well that others can utilize Sifchain pools in their dApps/tools. For developer support, we love growth through collaboration. We have open minds and are interested in seeing who wants to build something cool. I’d recommend joining the discord and reaching out there.


Q — Ayeley from GAINS: What role does the token play in the ecosystem?

A — Jared Moore from Sifchain: The Rowan token is used as “gas” to process transactions, it’s used to help peg assets to the Sifchain ecosystem, and when the DAO launches it’ll be used for governance/voting rights


Q — Telegram user Jem Trần: Have you been audited? Have not heard you talk about that security of funds is what every investor craves for and plans to escape in case of insecurity if funds, scams, and rug pull? How strongly built is your security put in place?

A — Jared Moore from Sifchain: Yes! We have been, and currently always are audited with Halborn on retainer. Everything we put out gets thoroughly tested.


Q — Ayeley from GAINS: How has the journey been so far with adoption and the general reception from the crypto community? Additionally, how have you handled the funds raised from your early supporters? Are you planning to do any future raises?

A — Jared Moore from Sifchain: It’s been a warm welcome as most projects and people in crypto support innovation. We are really gaining momentum within these past few months and our integrations/relationships with other projects have sped up to include a lot more! Our funds are quite well managed, we raised about $3m private round then about $26m in the public sale, but unfortunately, I don’t think there will be another sale on the roadmap.

Competitive Advantage

Q — Ayeley from GAINS: What sets Sifchain apart from the competition?

A — Jared Moore from Sifchain: The Omni-EVM capabilities are a big one for sure. Another is how we connect assets cross-chain, which is through Peggy 2.0, or basically the process to peg things to Sifchain using a peg chain. Another is being built on Cosmos allows for high speed and low fees. And last, which I think is underrated but I clearly have a bias, is the whole Sifchain team and community is really, really efficient at solving problems. It’s really cool to be a part of!

Business Development

Q — Ayeley from GAINS: Can you share your roadmap with us? What should we expect in the next weeks and months?

A — Jared Moore from Sifchain: More integrations! We just launched IBC so the focus is connecting more Cosmos assets to Ethereum and more Ethereum assets to Cosmos! Also, we are looking to the DAO creation, and the Peggy chain launch will be in development. Read more about it here.

Q — Telegram user Ampri: How can we become part of Sifchain? does it have to buy your tokens? What skills can your project accept? and is there a job vacancy?

A — Jared Moore from Sifchain: There are many ways to participate!
— being a token holder (and DAO voter later on)
— joining discussions and facilitating new ideas and improvements
— finding new/amazing projects to connect with Sifchain for either development or distribution of information
— if you have a specific skill you’d like to bring to the team/community, reach out to a moderator and they’ll be able to best help direct you
— Content creation is always fun! This is the culture and lifeblood of a community! This can be tutorials, songs, memes, explainers, TA/FA charts, etc.

Q — Twitter user @CryptoAngel81: I was reading the Sifchain roadmap and there is a section that says “Additional blockchain pins” for 2021. What are these additional pins about and how will they improve the operation of your platform?

A — Jared Moore from Sifchain: Additional pins, or pegs, will make it easier and more efficient for pegging to take place instead of a single asset peg

Q — Telegram user Richard: While you build your project do you take into account community feedback and demands??,

A — Jared Moore from Sifchain: Yes — community feedback is big. This is largely going into our product design and branding as we speak! We have significantly grown users lately and it’s important we maintain that relationship no matter how big we become as a community.

Jared, thanks for coming into our community, and taking the time to answer our questions. Anything else you’d like to say? Where can we follow you to stay updated? — Ayeley Commodore-Mensah from GAINS

I’m super happy to have met you all and I hope you join our telegram and be a bigger part of our community 😃 . The future is connected and can be grown well through collaboration ✨ — Jared Moore from Sifchain

GAINS Associates is the World’s First Decentralized VC, allowing anyone that holds $GAINS to invest in the crypto unicorns of tomorrow. With over 3 years of experience and several ultra-high return deals, we are removing the barriers of entry to investing and changing the world, one deal at a time.

GAINS stands for Group Action Is Never Small, embodying the collaborative spirit that is the essence of blockchain and decentralization.

In addition, GAINS provides daily news, articles, video interviews as well as fun & educational events.

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