Sifchain Mid-Oct Update: Margin Trading Launched, Learn Trading, Sifchain in CoinTelegraph + More!

Zadkiel

Published in

Sifchain Finance

6 min readOct 12, 2022

Lots of launches, project updates, and project progress for Sifchain for September — mid-October, 2022.

Margin Trading v1.0: The Long Game Product Launch

Margin Trading v1.0: The Long Game is NOW OPEN for Whitelisted Participants to Trade! The initial pools are ATOM, USDC, and ETH, and the first position available is a long on ROWAN.

Poolers are already receiving real, non-inflationary revenue, with a recent day achieving 30%+ non-inflationary revenue to poolers in the ATOM:ROWAN pool!

175+ wallet addresses that have been whitelisted to try out the margin trading platform. They are getting great results so far…

Want to get on the whitelist? DM us on Twitter to get added.

The whitelisted traders are not only trialing the platform for themselves, but they’re also providing important feedback on the product. The insights they have shared about the product experience have been useful for the Engineering team as the team pushes through the final stages of finessing the product for public use.

Overall, sentiment has been very positive:

Growing the Trading Community on Sifchain

We’re happy to be welcoming new traders to Sifchain. The Sifchain Discord has been updated with a dedicated Margin section:

#Start-Here: Margin Trading 101 docs & links.
#Brags: Show off an epic trade.
#Whitelist-Participants: The whitelist crew hang out channel.
#Margin-General: Open chat about all things margin trading.
#Margin-Newbs: Learn how to trade with introductory material.

What’s Next for Margin

The team is hard at work at the final polishing to the platform in preparation for removing the whitelist and opening to public access.

Further, they’re preparing the software upgrade that will allow for long positions on ATOM/ETH/USDC versus ROWAN. This software upgrade is planned to be released ASAP.

Margin Trading at Sifchain is a long-term development commitment to deliver upgrades, new features, and new alpha to traders. Read more about the long-term roadmap for Margin & its promise of Real Revenue in Medium.

Learn to Trade

Many members of the community said they were excited about the Margin Trading platform and wanted to learn how to trade. We have heard you!

The Sifchain team will be releasing videos to help you learn the basics of trading, including spot & margin trading skills. The goal is to help you feel empowered to train on Sifchain’s margin platform.

We’ll see your epic trades in the Discord #Brags channel soon. 🚀

Follow us on YouTube to get notified about new videos. Join the Discord channel Margin-Newbs to meet other traders on the learning journey.

Watch Episodes Now:

Episode 1: Introduction to Margin Trading
Episode 2: Technical and Fundamental Analysis
Episode 3: Basics of Candlestick Charts

Business Development & Marketing

Sifchain at Cosmoverse

Sifchain co-founder Jazear Brooks spoke at Cosmoverse, the largest Cosmos-focused conference in the world. This year’s Cosmoverse was in Medellin, Colombia.

Watch his spot to hear about Sifchain’s roadmap progress on Margin & Peggy 2 and future plans for entering new areas of development. Note that this speech was made in September 2022, prior to the launch of margin trading in October 2022.

Sifchain CEO Jazear Brooks speaks at Cosmoverse 2022

Sifchain in CoinTelegraph

Sifchain CEO Jazear Brooks was interviewed in CoinTelegraph about the relationship between crypto & TradFi.

Sifchain CEO Jazear Brooks in CoinTelegraph

Sifchain in Entrepreneur

Sifchain was the showcase DeFi project in an article in Entrepreneur about decentralized finance.

Preparing for the Launch of the Peggy 2 Bridge

Sifchain’s Peggy 2 bridge will connect it to EVM-compatible chains, giving these chains access to the entire Cosmos ecosystem with Sifchain as the central hub of traffic.

The Business Development team iss building relationships with their EVM chain partners. These chains will be the first connections to Sifchain via the Peggy 2.0 bridge, and may include Cardano, Solana’s EVM layer, Hedera, Polygon, Avalanche, and BSC.

SifDAO

Validator Delegation Council

The council has launched a website at https://sifchain.vnodes.info/ with everything you need to know about the Validator Delegation Program!
It includes important dates, a mailing list, a feedback form, and an application portal. If you are a validator, make sure to add your email address to receive important updates!

Further, The validator delegation council completed the validator delegation program phase 2 retrospective.

Applications for the next delegation round open November 2, 2022.

Token Listing Council

The token listing council has begun preparing for upcoming Peggy 2 token listings. Some of this work will include collaborating with Sifcore to communicate with upcoming chain integrations.

IPFS

The IPFS working group is building out the SifDAO IPFS cluster. The goal of the IPFS cluster is to help ensure resiliency, longevity, and verifiability for all important SifDAO and Cosmos governance documents.

Setting up an IPFS cluster entails utilizing a trusted node / follow node architecture, and the group is working closely with the IPFS team to build out the optimal solution for SifDAO’s needs. The group is also building out a Keplr authentication gateway for the nodes in the cluster.

Many thanks to love life#5310 from the GoodTeam validator node for leading this initiative.

Governance Proposals

The proposal to compensate the token listing council is in discussion period on Discord.
The proposal to ratify the SifDAO <> Sifcore council is in discussion period on Commonwealth.
The proposal to compensate the Sifchain Ambassadors has passed.

SifDAO Events

Mark your calendar! The next SifDAO townhall will be on October 14th at 12PM PST, in which we’ll focus on the launch of margin trading as well as hear updates from around the DAO.

Get Involved in the DAO

Stay tuned in the #DAO-chat on discord.gg/sifchain or on commonwealth.im/sifchain to participate in governance.

Product & Engineering

Chain Updates

It was an eventful 2 weeks leading up to the deployment of the margin trading solution:

The chain was halted for ~48h beginning on September 19, 2022. For a full explanation on the sequence of events, the updates to the ATOM:ROWAN pool, and updates to Sif’s Ascension Liquidity Mining program, read the full write-up.
The chain was automatically halted on October 1st for less than 24h due to an invariant check causing the chain to time out. The invariant check was removed, and the validators came together to deploy a hotfix software upgrade within the same day.

Margin Trading Team

The margin trading team successfully deployed v1 of the Margin Trading platform! The team is now focused on feedback from the early participants, enabling the ability to long TKN against ROWAN, and other key early features.

Margin is running on the upgraded version 3 of the Sifchain DEX Front-end. This version is mobile responsive and supports WalletConnect, Keplr and Metamask.

Peggy Bridge Team

The peggy team remains focused on completing audit remediation. They have completely closed out all findings from Certik, and are now focused on finishing the remaining findings from the Halborn continuous audit.

Developer Relations Team

The DevRels team continued their support of the community, by creating the below educational documentation & tutorials:

The team also worked closely with CosmoStation and Forbole to ensure that the margin trading transactions are now being accurately displayed in their block explorers.

Community Tools

The community has shared a number of new tools:

NodeJumper Dashboard. A validator setup tool & Sifchain dashboard. Find installation scripts/analytics/rpc and more!
IOB Scan: Inter-blockchain explorer powered by IOBScan. It provides IBC information on the cross chain ecology.
Stakewolle validator alert bot: This Telegram bot tracks your provided wallets and notifies you if something happens to your delegated validator

Thank you to the community who builds these tools for Sifchain & Cosmos!

Get Involved

This is what we’ve been working on recently, and we give regular updates via Medium & Discord to keep you in the know.

Media & content creators, contact us at communications@sifchain.finance.

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