Sifchain Finance
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Sifchain Finance

Sifchain Update: 29 Aug. — 4 Sept. 2021

Sifchain and IBC

We continue to see strong adoption of Sifchain in the Cosmos Network as it provides the opportunity for trading CosmosFi and EthFi assets on a DEX for the first time ever. ATOM, XPRT, IRIS, REGEN, CRO, AKT, and DVPN, are currently on Sifchain now but we’re working on connections to new chains like Osmosis and Terra as well!

The team is aware of an issue with using Ledger and Keplr to import IBC tokens and is hard at work fixing it.

CosmosFi on EVM Chains

We’re also in the testing phase for releasing Cosmos tokens onto Ethereum, allowing another first. Imagine Atom on Uniswap or Regen on Sushiswap! These tokens can finally be used to accrue yield in the most advanced DeFi ecosystem.

Polygon ecosystem projects Dinoswap, Quickswap, and DFYN have already expressed interest in incentivizing CosmosFi liquidity, look out for more announcements on this over the next 7–10 days.

Validator Delegation Program

The Ecosystem Fund is currently providing liquidity to support the cryptoeconomic security of the Sifchain consensus set. It’ll soon delegate those cryptoeconomic security funds to other validators rather than running its own nodes. Validators interested in receiving Ecosystem Fund delegations should be prepared to provide reliable support similar to requests from Persistence, Kasuma, and Tendermint for their foundation delegate programs.

More terms will be shared on this program after a review from our chainops team for reliability standards. Expected eligibility requirements include but are not limited to:

  • Your validator node must already be set up on the Sifchain Betanet before you submit your application (applications are not yet open)
  • Your validator node must have a minimum self-bonded stake of 10,000 Rowan
  • Your validator node’s staking commission rate must not be more than 10%, and no less than 2%

Inflationary Block Rewards

Up until recently, Sifchain ran a validator subsidy program to incentivize users to validate or delegate on Sifchain. This program has ended, but soon Sifchain will turn on inflationary block rewards to compensate validators and delegators for their capital. These rewards are based on the Cosmos Hub’s inflationary block rewards model and will yield 7%-20% APR depending on the stake rate. We recommend Figment’s article for more details on how this works on the Cosmos Hub.

Community Pool

With inflationary block rewards enabled, funds will flow to the community pool which the community can use to vote on key initiatives. The Ecosystem Fund will also seed the community pool with initial funds to expedite its growth. We look forward to seeing what exciting developments the community chooses to vote for.

Your Ideas are Welcome

We’re also collecting feedback and ideas from the community here. We’ve had a blast following up with users on the following ideas:

Make your voice heard on these or other issues!

Team Updates

Each week, Sifchain’s Engineering teams report progress of their top priorities. Here are this week’s updates:


What is the team working on?

Now with the IBC-enabled Sifchain DEX live at, the Sifnode team is working on refinement of the testing framework for IBC. Alongside other Sifchain Engineering team, Sifnode is helping to troubleshoot and resolve performance issues that have emerged as a result of the increased user traffic and additional tokens / chains listed on the DEX. Looking ahead, the team is collaborating with developers from other IBC projects in an effort to list more popular tokens on the Sifchain DEX for swapping and pooling.


What is the team working on?

The primary focus of the Peggy team this week has been working towards enabling the transfer of Cosmos assets to the Ethereum network. Smart contract code changes for peggy2.0 are under security audit and the team is going over IBC token deployment docs and process. Also, the team continues work on adding a CLI to the Peggy 2.0 development environment and integration of the metadata module code and relayer changes (stateless signature aggregation and relayer whitelists).


What is the team working on?

Continue to drive Sifchain’s IBC integration to greater heights by deploying new relayers to support even more Cosmos assets on the DEX including REGEN and CRO, both of which have passed testing. The whitelisting of tokens is underway so these tokens and more should be live on the Sifchain DEX by the time you are reading this. Additional testing and debugging is underway for other tokens as well as other miscellaneous cleanup efforts following the IBC-launch such as documentation for IBC-token channels.


What is the team working on?

The Frontend team remains on standby to troubleshoot miscellaneous user issues and debug any inconsistencies in expected behavior. Now the IBC Liquidity Mining Program is underway, the Frontend team is working on turning on the “Claim” button for accrued program rewards. We encourage users to explore the enhanced Pools Stats display and customize their DEX skin by selecting from one of the available style options from the icon in the lower-right of the DEX screen. The team continues to turn on new IBC connections and tokens! Since launch, we have enabled Regen, Persistence, Iris, and Crypto-org! Next will be Osmosis and Terra!


What is the team working on?

The Testing team is in the testing phase for a decimal modification feature which should allow users to export Rowan and Ethereum-based tokens to other Cosmos Network chains over IBC. The team also continues to run through the integration test suite for enabling even more IBC connections with popular IBC-projects including Iris, Persistence, Crypto, Osmosis, and Regen. The team is also working on network optimizations such as refining the gas price parameter.

Data Services

What is the team working on?

The Data Services team is currently working on supporting dispensations for the .42 liquidity mining program claims functionality. Data services is also working on updating the Client SDK to enable automated trading against a self hosted or remote node. The team also continues work on the upgrade of Vanir 2.0.

Decentralized Exchange (DEX)

We welcome traders and developers to give feedback and participate in our network! The best ways to join our community are Telegram, Github, and Discord.

For now, in order to take full advantage of the Sifchain DEX, you must have a Keplr wallet for managing assets on Sifchain and a MetaMask wallet for managing assets on Ethereum. Check out our usage guide article, video tutorials, and “getting started” documentation!

Liquidity and Swapping Rewards

Sifchain allows users to swap any asset on any bridged chain (like Ethereum) for any other assets. Liquidity providers can add liquidity into Sifchain’s liquidity pools where they earn income. Check out our article about swapping and our article about liquidity pooling!

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