Sifchain Update: January 2022
Updates from Discord
A lot of recent updates have been happening on Sifchain’s Discord. We’ll share some highlights here.
From here on out, there will be no need to manually claim your rewards anymore! Your rewards will be auto-claimed every week, and will be done so to maximize the reward amount that you will receive for that week.*
*Additional notes on this: — We will be removing the claim button altogether to avoid any confusion. If you click the claim button before we remove it, do not worry. The auto-claim will trump this and your distributed reward amount will be based off of the auto-claim.
Token Network Badges
All tokens that are available on multiple networks now have icon badges to distinguish each network.
The pool details area now also displays your active liquidity position within each pool.
We would like to announce our revamped and upgraded Sifchain Docs Site! The site has been re-structured and upgraded to be revolved around the user journey and to make it as easy as possible for people to find the exact information they need in a timely fashion.
As we are gaining more and more attention, we wanted to be sure our Docs Site was top notch, easy to understand, and easy to follow,. We will be gaining even more attention with the features we have coming up (omni-evm, margin trading, and others) and we want ALL users to have a great and seamless experience when doing their own research on Sifchain.
Check it out!
Pools of the People Voting Update
SifDAO passed a proposal for 2 changes to the next Pools of the People vote: a) an educational banner in the DEX, and b) voting normalization.
Magnolia represents ‘Perseverance’ and ‘Nobility’. We are excited to announce this release as it has some VERY big things being delivered. Magnolia will include:
1) Resolving issues with Terra: Once Magnolia is deployed, the team will be able to unstuck all stuck transactions between Sifchain and Terra and resume normal IBC communication.
2) IBC-v2: Magnolia will welcome in an Ethereum connection to ALL of Cosmos. While this connection has existed between Ethereum and Sifchain for some time already, this will allow ALL tokens to be exported to ALL other Cosmos chains connected to Sifchain. This means that ROWAN will be able to exported to chains like, Osmosis and Juno and Cosmos Hub. This also means that ALL ERC-20 tokens (like ETH, USDC, etc) can also be exported to these chains as well.
3) Reward updates: We will now be able to support paying out of rewards in multiple tokens. That means that users pooling in certain pools, will now be able to receive both ROWAN and the other token of that pool (heck ya!). This also makes it easier for us to support airdrops to our stakers/delegators in other tokens as well. Once we get any new reward deals in place for pools, we will let the community know!
We are excited about Magnolia. We will announce specific date/times once we have nailed down an official deployment window, this is getting finalized by the team now. Once Magnolia is deployed, there will be more and more fun announcements to come shortly after.
Front End Host for Sifchain’s DEX
The team is wrapping up the dockerization of Sifchain’s DEX to let it be deployed as an image by other parties. If you’d like to host a front end for Sifchain’s DEX, please stay on the lookout for it!
Protocol Monetary Trade Policy
Sifchain will soon implement a new monetary policy called “Protocol Monetary Trade Policy” (PMTP) as an alternative to inflation. While it will be launched alongside the current Sif’s Expansion liquidity mining program, SifDAO may find it prudent to reduce inflationary liquidity mining rewards from Sif’s Expansion once PMTP starts.
Fiat currency managers use monetary policy to influence the interest rates for short term borrowing or the supply of money. They use trade policy to influence the rate at which goods in their sovereign domain are exchanged.
This feature allows Sifchain governance to combine the two objectives by influencing exchange rates amongst assets (trade policy) to influence currency-wide purchasing power (monetary policy).
Most cryptocurrencies influence monetary policy through inflationary rewards. This is increasing the quantity of tokens a token holder has to trade. Protocol Monetary Trade Policy allows Sifchain governance to instead influence the number of opportunities a currency holder has to use trade their existing quantity of tokens at a specified ratio.
Get in Touch with Sifchain
Media & content creators, contact us at firstname.lastname@example.org.