Sifchain Finance
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Sifchain Finance

Sifchain Weekly Update: May 30 — June 5

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

The validator subsidy and liquidity mining reward calculations in are now both accurate! For more details on these programs, check out last week’s update or the docs.

We refactored the code for distribution of rewards after our code and security reviews and expect to deploy it to a private testnet early next week. If it works as expected, we’ll deploy it to BetaNet later in the week, allowing our first claim and distribution of LM and VS rewards! This distribution code is also responsible for distribution of airdrop and trading competition rewards, so those will be enabled.

Data Services

As a reminder, we recently released the first versions of APIs for on-chain Sifchain data (read only) and a client SDK (read and write). The APIs let users query data about pools, validators, and assets on Sifchain while the client SDK is designed to support pooling, swapping, and delegating for 3rd party applications!

We’ve been helping a few algorithmic traders get set up and are excited to see them go live. If you need help connecting with our new tools, or want to suggest new endpoints, please let us know on Discord.

Deep Margin Sneak Peek

We’ve had strong interest on Discord and Telegram for more details about the upcoming deep margin feature. Here’s a sneak peek:

  • Any asset can be used as collateral for any margin trading position (mtp)
  • Any asset can be traded long or short in an mtp
  • Liquidity providers in Sifchain’s liquidity pools will lend assets to mtp holders to earn interest
  • Validators will earn a share of interest generated by liquidity providers to compensate them for securing additional capital and economic activity

Given the lack of deep margin products across DeFi, we believe this will be a critical feature for Sifchain and the entire industry. Check out this analysis for more perspective.

We look forward to releasing more documentation on this feature, including a cryptoeconomics paper and security analysis, and of course implementing the feature itself.

Community Hosted Sifchain Front-Ends

We want to encourage community members to host front ends for Sifchain. That’s why we’ve separated the Sifchain’s front end logic from the Sifnode repo to its own new repo. When it’s published, front end specialists will be able to review and fork the code as they see fit. Malicious actors can host modified versions of this repo so we recommend that you use for the foreseeable future. However, we’ll release incentive models community members to host verifiably honest front ends, stay tuned for more info on this!

Akash Grant Update

Last week, 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 already gotten two strong contenders, thanks Minato Fund and Harish!

If you want to participate, you still have until June 22.

Update — Peggy Fee Reduction (Grant Opportunities)

We’re plugging away to improve Sifchain’s cross-chain capabilities but also want to reduce fees for cross-chain transactions. New gas costs to Peggy for Omni-EVM have made it more important for us to implement some fee savings so we’ve taken on the following two ideas for internal development.

We expect these two to significantly reduce fees on their own, and have also proposed the following two as grant opportunities for 3rd party devs for additional cost savings:

If you’d like to help us speed up implementation, please let us know in a comment on Aha and we can work on an RFP! We’ve been prioritizing other features over Peggy fee reduction so without a separate team or requests from the community, these will take a while to implement.

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!


What new is your team working on

  • Cleanup of technical debt.
  • Monitoring dashboards.
  • Internal training materials/documentation/runbooks.
  • DevNet and TestNet upgrades to v0.8.5.
  • A simpler way for node operators to join the network (without the need to perform a full sync for several days).

Describe briefly about the new feature

  • Every 24 hours, snapshots of the chain (both TestNet and BetaNet) will be created.

How does this feature help Sifchain community?

  • Faster network sync times.
  • Greater security of individual nodes


What new is your team working on

  • We launched the ability for ALL users to see both of their Liquidity Mining Rewards AND their Validator Subsidy Rewards in the DEX UI!
  • Now that users can see all of their rewards, we are currently heads down finishing the ability to claim these rewards.
  • We have extracted the UI repo from our main repo. This allows us to move more quickly as we are fully disconnected from the main repo and can deploy quicker when needed!
  • Continued more robust end-to-end automated testing support.
  • Started a number of research tasks, including: Integrating with xDeFi as a wallet provider and token based voting with Snapshot.
  • Started to dive deeper on what Frontend changes we will need to make to support IBC connections to the CosmosHub.
  • Started to spec out a program where we will incentivize other people to spin up Front-ends into Sifchain.


What new is your team working on

  • Relayer Retry Logic
  • Sifnode Relayer Whitelist
  • Smart Contract Tooling

Describe briefly about the new feature

  • Relayer Retry Logic — Continuation of work mentioned earlier that was paused due to .42 upgrade work, but now also includes relayed transactions going from Ethereum to Sifchain. Relayers need to try to rebroadcast until it is either confirmed, or in the mempool. They need to try up to 50 times to broadcast the same transaction. Nonce handling is no longer a part of this change.
  • Sifnode Relayer Whitelist — Continuation of work mentioned earlier for peggy 2.0. This feature will be merged into the .42 changes by the end of week.
  • Smart Contract Tooling — Finish upgrading our development environment from Truffle to Hardhat.

How does this feature help Sifchain community?

  • Smart Contract Tooling and the Relayer Whitelist are the first tasks in part 0 of Peggy 2.0. Next week we plan on beginning part 1 of peggy 2.0: updating the relayers, sifnode, and smart contracts to support the new import/export system.
  • Retry logic will improve the reliability of import and export transactions, saving the team and users time spent investigating and manually resending transactions.


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 reviewing feedback from the 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

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

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


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. Finishing up automation framework refactoring, so code is easier to reuse, and improving the maintainability and consistency of the code regarding consistent reproducible UI test results.
  • QA team pilot project for UI manual and exploratory testing. Onboarding Applause and Rainforest to evaluate, 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). Plan is to complete work by the end of this week.

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)

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:!

SifDAO Tribe

Main Official Channels

Local Language Channels




Sifchain is a decentralized exchange on the Cosmos Ecosystem.

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