Sifchain Finance
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Sifchain Finance

Sifchain and Olympus Pro Present: eROWAN Bonds!

Buy your eROWAN at a discounted rate with eROWAN/ATOM Sushi LP Tokens.

To further Sifchain’s mission to bring harmony and interconnectedness to the blockchain kingdom, we are looking to boost liquidity in our pools on Ethereum. And you can help! In partnership with Olympus Pro, Sifchain brings you eROWAN bonds.

What is Bonding?

Bonding is a mechanism in which a user can sell assets to a protocol in exchange for its native token.

To incentivize users to sell to the protocol, rather than the open market, bonds are offered at a discounted rate. Bonds also have a linear vesting period of roughly 7 days, or 46,200 blocks, to prevent users from selling all the discounted tokens at once for a quick profit.

Bond price is determined by the supply and demand of bonds. It trends higher when there is more demand. As a result, bonding is a competitive space — bonders compete with each other to grab the largest discount. We will be tracking the current discount rate in our (new, revamped and vibing) Discord, so you can keep an eye on it!

What are the Benefits of Bonding?

Bonding allows a protocol to accumulate their own liquidity.

Protocol Owned Liquidity (POL) guarantees users that there is always sufficient liquidity for normal market operation. Sifchain will establish POL pools for key Cosmos tokens on Ethereum, to ensure there will always be liquidity for cross chain operations.

We need your help, but we will make it worth your while!
The first pool we are looking to add POL to is the eROWAN / ATOM pool on Sushiswap. Sifchain will offer discounted eROWAN tokens in exchange for eROWAN / ATOM Sushi LP tokens.

Sounds good! How do I bond?

Here are the steps:

  1. Have eROWAN and ATOM tokens in your wallet on the Ethereum network.
  2. Add them to the liquidity pool on Sushi to make Sushi LP tokens.
  3. Take the LP Tokens to the Olympus Pro bonds marketplace, and bond them for eROWAN.
  4. Your eROWAN will be released block by block over the next 7 days, you can claim it in chunks from the Olympus Pro UI — or just claim it once at the end, when it has all vested.

How to get eROWAN and ATOM on Ethereum:

If you don’t already own ROWAN and ATOM tokens that you are willing to part with, there are two options — purchase them on SifDEX, or purchase them on Ethereum.

Using Sifchain:

At present, the deepest pools for ROWAN and ATOM are on Cosmos, thus we would recommend purchasing the tokens on dex.sifchain.finance. For instructions on how to do this, please see our (updated!) documentation site.

Having purchased ROWAN and ATOM tokens, you need to export them to Ethereum using Sifchain’s Peggy Bridge — again, the documentation site will give you the play by play.

Using Ethereum:

If you would like to participate with funds that you already have on Ethereum, there are two primary options — tokens can be purchased at Sushiswap or Uniswap.

How to get Sushi LP Tokens:

Once you have the tokens in your wallet on Ethereum, the next step is to create LP tokens by adding them to the liquidity pool on Sushiswap — here’s a direct link to the pool.

Time to Bond

OK, we did it! Now it’s time to head to the Olympus Pro bonds marketplace to snag the discount.

It’s all fairly simple, there are two parts of the bonding process:

As previously mentioned, your rewards will be released linearly over 7 days. You can claim as often as you like, just factor in gas costs for each transaction. To minimise this, you may wish to claim once at the end of the 7 day period.

Now what to do with your lovely new discounted eROWAN? You could pair it with more ATOM and bond again! Or, you can import it to Sifchain to take advantage of our Liquidity Mining Rewards Programs (currently paying 100–300% APR), or simply delegate it to a validator to secure the network, and again be rewarded for doing so! Christmas everyday.

Thanks for taking the time to check out our bond offering, should you need any support or have any feedback, please reach out to our community and helpful people will be right on hand.

Get in Touch with Sifchain

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