Sifchain Finance
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Sifchain Finance

Sifchain Weekly Update: June 06 — June 12

Validator Subsidy and Liquidity Mining Rewards, Airdrop, and Trading Competition Updates

Accurate calculations on validator subsidy and liquidity mining regards are in https://cryptoeconomics.sifchain.finance/ and we’re working with Keplr and Cosmostation to update the VS rewards in wallets as well. We conducted tests on the code to distribute rewards for VS, LM, the airdrop, and the trading competition on testnet last week. We also triggered the proposal for distribution rewards to put it on BetaNet.

This upgrade will occur at about 14:45 PDT on Mon, June 14. After that point, we’ll do some additional testing on BetaNet but if everything is smooth, we should be able to actually allow distributions later on Mon or Tue :crossed_fingers:

DeFi Llama Listing

We’re now on DeFi Llama!

We’re currently ranked as DEX #47 by TVL, let’s enjoy this climb up the ranks. We’re grateful for the suggestion from https://sifchainpublic.ideas.aha.io/ and happy to explore other integrations.

Reduced Peggy Fees

We merged in a pull request to reduce Peggy’s fees in acknowledgement of the lowered fees across the board. We’re excited to deploy this!

https://github.com/Sifchain/sifnode/pull/1457/

Akash Grant Update

We expressed interest in documentation for deploying a Sifchain validator to Akash, the unstoppable decentralized cloud. Since then, Akash and Sifchain have sponsored a contest for these docs.

We’ve had a bunch of great applications, but there’s still more time to participate before the community votes on a winner!

IBC

We’ve recently finished an update to Sifchain to use CosmosSDK 0.42 which is compatible with IBC. This was a massive undertaking that required a deep rewrite of the blockchain, as is the case for all projects updating from CosmosSDK 0.39.

We are now looking to connect Sifchain to the Cosmos Hub via IBC. If you know any Cosmos Hub relayers looking for new connections, please let us know. We’ve also started upgrades on Peggy so that it can support moving Cosmos Network tokens into Sifchain via IBC and then to Ethereum, and vice versa.

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!

DevOps

What new is your team working on

  • Ability for team members to spin up an ephemeral network at will.
  • Support around getting a release out for the dispensation (airdrop) fixes.
  • Cosmos SDK 0.42 release planning (including IBC).

Describe briefly about the new feature

Continuing with the theme from the past few weeks, as much of our work is internal. Additionally, we’re continuing to direct effort towards our release of v0.42 of the Cosmos SDK.

Front-End

What new is your team working on

  • We have been head’s down putting the final touches on the ability for user’s to claim their liquidity mining and validator subsidy rewards. At this time, we are in final testing of this feature before we officially roll it out!
  • We have spec’d out our Frontend Provider Initiative and are now working through the details of it before we start implementing it. This initiative will compensate other groups to spin up their own FEs into Sifchain and bring more traffic into the ecosystem.
  • We have developed a feature that will notify user’s when they login to the DEX that they have reached their full maturation date on their LM and/or VS rewards. This makes it easy for users to know when they should claim their rewards!
  • Continued more robust end-to-end automated testing support.
  • Continued to dive deeper on what Frontend changes we will need to make to support IBC connections to the CosmosHub.

Peggy

What new is your team working on

  • IBC Double Pegging Specs Sifnode Relayer Whitelist Integration Testing

Describe briefly about the new feature

  • IBC Double Pegging Specs — When Sifchain is connected to other Cosmos chains via IBC, we plan to allow for Cosmos native tokens to be imported into Sifchain and exported to Ethereum. The team has spent a few days determining the changes needed in the smart contracts and relayers to support this functionality.
  • Sifnode Relayer Whitelist Integration Testing — Working on integration tests for the relayer whitelist.

How does this feature help Sifchain community?

  • IBC Double Pegging Specs — Enabling this functionality will mean that Cosmos native tokens connected to Sifchain via IBC will be able to be exported to Ethereum as an ERC20 token. This means that these tokens will have access to the vast Ethereum application ecosystem via Sifchain.

Sifnode

What new is your team working on

  • Continued testing and planning deployment of CosmosSDK v.42 upgrade. Staff are primarily focused on extensive testing and bug fixes. This is likely to take an extended amount of time given the large impact the upgrade has on the codebase. We want to make sure that everything will continue to function as expected.

Data Services

What new is your team working on

  • Data Services is currently implementing some changes based feedback from the v1 deployment of ClientSDK
  • Currently working on functionality to support pegging and unpegging actions from the ClientSDK
  • Working on new logic to support the tracking of airdrop participants
  • Working on wrapping up distribution snapshots for our Liquidity Mining rewards program

Describe briefly about the new feature

  • The additions to the ClientSDK will allow for greater flexibility in the way partners interact with Sifchain ClientSDK
  • The new support for airdrop will allow us to accurately trace and track airdrop distribution funds
  • The tracking snapshots will allow for full completion of the Liquidity Mining rewards program

How does this feature help Sifchain community?

  • Continuing work on this feature allows us to onboard various partners and ultimately introduce more liquidity to the protocol..
  • We will be able to closely monitor airdrop to ensure a fairer distribution event
  • We will be able to closely monitor Liquidity Mining rewards to ensure a smooth distribution for all participants of the program

Testing

What new is your team working on

  • UI e2e Automated Testing using Playwright
  • QA team pilot project for UI manual and exploratory testing
  • Work on creating private testnets for ethereum
  • Work on creating full private testnet for all of Sifchain for an arbitrary PR branch
  • Updating tests for Cosmos SDK 0.42 update

Describe briefly about the new feature

  • UI e2e Automated Testing using Playwright. Working on e2e Test for Swap and Pool Coins with Different Precisions and reviewing current code coverage plan.
  • QA team pilot project for UI manual and exploratory testing. Start got delayed due to deployment issues, currently starting first test pass
  • Work on creating private testnets for ethereum. Updating test bash scripts to work against geth instead of ganache
  • Work on creating full private testnet for all of Sifchain for an arbitrary PR branch. Updating CICD pipeline scripts to be more reusable in various contexts, and reuse existing functionality from devnet and testnet automation.
  • Updating tests for Cosmos SDK 0.42 update. Finishing up .42 integration tests related to Peggy (determine which are passing/failing, fixing code that failed tests, CLP tests).

How does this feature help Sifchain community?

  • Better automated coverage for UI e2e in particular will enable us to find bugs faster and prevent regressions.
  • More QA resources will enable us to get better coverage on new features, and be more thorough and quicker about finding regressions.
  • Full private testnet for a PR branch will enable us to develop new features and do full testing in parallel, and be able to do full testing on that work and not wait until final testnet integration in order to test.
  • Private testnet for ethereum will eliminate the dependency on using a testnet like Ropsten.
  • We will be able to mint arbitrary amounts of our own local ethereum which are necessary to run large scalability and stability tests on our testnet.
  • Overall, this will help improve our tests to find problems sooner, and verify a higher quality blockchain

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!

Validator and Delegator Rewards

It should take half an hour to set yourself up as a validator. Sifchain has been running a validator subsidy program that started on February 19, 2021, at 5:00 AM GMT alongside the launch of BetaNet. You’ll see details about this incentive program in the BetaNet usage guide article. Delegation is a great way to earn validator income without running your own validator. You can do so in Keplr.

Validator in a Box: Plug and Play Passive Income Generator

Running a Sifchain Validator on Kubernetes (K8S)medium.com

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!

Global Media

If you are a content creator with a following, contact us to collaborate: info@sifchain.finance!

SifDAO Tribe

Main Official Channels

Local Language Channels

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A decentralized exchange, Sifchain combines the best elements of liquidity pools and order books for optimal order execution.

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