Sifchain Finance
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Sifchain Finance

Sifchain Update: 3 Oct. - 16 Oct. 2021

Successful Metrics

Sif’s Harvest has continued to successfully take Rowan and Sifchain to new heights! We’ve seen an increase in TVL by about 200%, an uptick in Rowan’s price by about 100%, and records breaking in October in nearly every relevant swap stat (trading volume, trading count, etc.) on Sifchain’s DEX!

Let us continue to celebrate the gains from this harvest after acknowledging the wonderful advancements to the community and protocol.

Rowan Faucet

At long last, we’ve set up a faucet for users to receive Rowan for their first transactions for gas on Sifchain!

“For users who need a small amount of ROWAN to execute their first transaction (for example, to acquire more ROWAN via swap), then you can use our Betanet coin faucet. If your new account’s ROWAN balance within the Sifchain DEX is 0 following your first token import, then you should see a “Get Rowan” modal on the DEX interface. Follow the steps and you will receive enough Rowan to pay the gas fee to execute your first swap.”

Polygon Power: Quickswap and Dinoswap!

Check out the awesome rewards on Quickswap; they currently list 1000%+ APY on Quickswap’s Rowan:Quick pair.

Rewards are even higher on the Rowan:AKT, Rowan:ATOM, Rowan:XPRT, Rowan:IRIS, and Rowan:Regen. They currently pay out in dQuick but through Quickswap’s Dragon Syrup program you can also earn Rowan!

Check out this tutorial for instructions on exporting Cosmos tokens to Polygon to earn these rewards

Dinoswap also has outstanding rewards for Rowan:[Cosmos TKN] pairs and Rowan:Quick, 300%+ APR (10,000%+ APY)! Dinoswap pays out rewards in the Dino token but through their Extinction Pools you can also earn Rowan!

Check out their medium article for more details (the program will last for 90 days).

Rowan holders and Cosmonauts deserve the best yield possible from multiple token sources. We’re grateful for their support. We also look forward to releasing a feature that will allow Sifchain poolers to earn tokens from multiple sources as well.

Coming Soon

The above is just scratching the surface. We still have more bonus pools coming, our next trading competition, and more partnerships with major players like Olympus DAO.

As always, we appreciate your feedback. A lot of you have shared it in https://sifchainpublic.ideas.aha.io/ and we’ve also received great suggestions on Telegram and the feedback channel of our Discord. Keep helping us help you!

Team Updates

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

Sifnode

What is the team working on?

This week the Sifnode team contributed to the completion of the feature development work required to enable the transfer of Rowan, Ether, and ERC-20 assets from Ethereum through Sifchain and ultimately into other Cosmos-based DEXes. This milestone capability, which went live this week, marks the final piece towards achieving complete bi-directional token transfer of Ethereum and Cosmos assets. Now that Ethereum tokens can be exported to any Cosmos chain via IBC, you should expect to see ERC-20 tokens appearing on more Cosmos based DEXes than just Sifchain’s.

Peggy

What is the team working on?

Furthering Sifchain’s advancements in blockchain interoperability, the Peggy team has mapped even more Cosmos based assets to Polygon. In addition to the recently added Polygon DEX pools of ATOM, IRIS, REGEN, AKT, users may now also bridge tokens to Polygon including DVPN, JUNO, BCNA, EEUR, TICK, NGM, IXO, CTK, IOV. The Peggy team is also working closely with the testing team to work on getting integration tests in Peggy 2.0 passing in our development environments.

Chainops

What is the team working on?

The Chainops team has made great progress towards enabling support for Terra and Osmosis on the Sifchain DEX. Also, the Chainops team has recently published updated tooling and documentation so that anyone that wants to setup a Sifchain validator can do so in less than 30 minutes by using our standardized stack. The team then completed coordination efforts with Sifchain partner Cephalopod to turn on professional relayer connection support for our network. The team also continues to work on supporting a number of additional initiatives around EVM support.

Frontend

What is the team working on?

On the momentum of Sif’s Harvest liquidity mining program, the Frontend team forged an IBC connection to the IXO network overnight, listing its IXO token as the second celebrated iteration of the Sif’s Bonus Pool reward series.The Frontend team also implemented the groundbreaking capability to export Ethereum tokens to any IBC-enabled network from the Sifchain DEX UI.

The frontend team also collaborated with the Data Services team to build and test infrastructure for the much-anticipated Sifchain trading competitions, as well as streamlining Sifchain’s ability to dynamically launch new reward programs at a moment’s notice.

Additionally, the team pioneered a new omni-chain feature flag system, enabling them to test, iterate, and launch new IBC connections faster than ever before.

Testing

What is the team working on?

This week, the Testing team received back the results of the 3rd party testing related to the Eth-to-Cosmos transfer capability. The results came back with all substantive code cleared for production. Upon resolving a few miscellaneous flagged issues surrounding this decimal precision effort, the feature went live earlier this week thanks to contributions from many teams including Sifnode, Chainops, and Frontend.

Data Services

What is the team working on?

Data team is currently working on infrastructure for the upcoming trading program. Working on implementation support and analytics tracking for all of the new IBC connections. Continued support on Sif’s Harvest rewards program as well as generating snapshots for Sif’s Bonus pools.

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!

Get in Touch with Sifchain

Official Channels

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

Language-Specific Channels

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Sifchain is a decentralized exchange on the Cosmos Ecosystem.

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Sif

Sif

Goddess of harvest and fertility. Wife to the storm-god Thor

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