Sifchain

The leading Omni-Chain Dex on Cosmos. Swap, stake, and bridge between Ethereum & Cosmos with faster transactions & lower fees. |

[Sifchain @sifchain]

@TheyCryptoMan Yeah, sorry it's been a while. We're still cranking on this though, and hope to get some updates out soon.

[Sifchain @sifchain]

Yes! GTK is now functional and capable of accepting liquidity from matchers/lenders and trades from traders.

Let’s see how volume changes over time at https://t.co/mnaP2F4MyR

[Charlie @chucknut5489]

@sifchain Did this go to prod?

[Sifchain @sifchain]

We're working on an infra upgrade for GTK that should take no more than 2-3 days. Once that happens, we should see increased volumes and liquidity on GTK from interested supporters! Then institutions like the ones we've mentioned can scale in as traction develops

[Charlie @chucknut5489]

@sifchain Any update on GTK since the API launch? Whatever happened with the company that wanted to integrate?

[Sifchain @sifchain]

@trd_tradecoin Only USDC from Noble has liquidity right now, but you can import/export it to the Noble blockchain, where it’s native

[Sifchain @sifchain]

Rowan:USDC Yield at 815% APR on SifDEX, paid in USDC!

Yield has been available for a few days but we're only just tweeting about it after fixing a data feed issue on SifDEX

We still plan to ship Storehouse and Wheat to make Rowan deflationary! Stay tuned!

[Sifchain @sifchain]

@bccryptolearn No, you should be able to use IBC to withdraw now. If there was any issue there it was temporary and should be resolved

[Sifchain @sifchain]

@trd_tradecoin Thanks for checking in, we don’t have an updated ETA, but this is a top priority for us as it may institute a large turnaround for the project

[Sifchain @sifchain]

First PR for Storehouse and Wheat was submitted a few days ago https://t.co/vMg0zlSJgm

We are very serious about burning up to 90% of the tokens and going hyper deflationary 😤

[Sifchain @sifchain]

Storehouse and Wheat is now our main crypto dev focus. It would land take 2-5 weeks from now, but we are hoping STF will cut a lot of that time down and be a good case study.

It’s launch date would be a definitive date by when Rowan will reduce inflation or go deflationary

[Sifchain @sifchain]

@chucknut5489 Looks that way

[Sifchain @sifchain]

GTK Trading API Up!

https://t.co/pbK5EXd40q

https://t.co/RLBBWXu7mH

[Sifchain @sifchain]

A sizable trading firm offered to run trading volume through GTK if it had a conventional API. They have the capital to oversubscribe the current limited liquidity on GTK, which could then attract more lending, leading to a virtuous cycle of growth and yield for Rowan holders.

[Sifchain @sifchain]

@futorobf @draknivek Also, a solid amount of non-Rowan yield may need to be dropped into the pools to encourage pooling. GTK (with more liquidity) and STF (with more clients) should be up to the task

[Sifchain @sifchain]

@futorobf @draknivek Burning that much Rowan very quickly would likely require cyclicly burning a lot of Rowan in Sifchain’s pools, then temporarily increasing DLP to entice some more Rowan to be sold into the pools where it can then be burned again.

[Sifchain @sifchain]

@futorobf @draknivek The exact amount of Rowan burned and the duration during which it burns depends on what parameters are set.

[Sifchain @sifchain]

@futorobf @draknivek Yeah, you can check out the details of the plan in https://t.co/aJXnROizTv

[Sifchain @sifchain]

@draknivek We’re not sure when it would begin but 07.2024 is quite possible. It may take a year or two to actually burn that many Rowan

[Sifchain @sifchain]

@JeroenTerra Check your wallet on osmosis and if that doesn’t work, then ask the Keplr team for help

[Sifchain @sifchain]

Matcher APR stats now the GTK UI!

Matchers/lenders can now check the stats on multiple pages at https://t.co/oHKAL3hZYt to get insights on how much yield others are earning. This can increase the amount of liquidity provided if it comes with a commensurate amount of trading.

[Sifchain @sifchain]

We are so close on these Matcher APR calcs; in the mean time, Rowan:USDC yield on SifDEX is at 700%+ APR paid in USDC 🚀🚀

[Sifchain @sifchain]

Stay tuned for more updates imminently on STF and Storehouse and Wheat, both of which have also had strong progress!

[Sifchain @sifchain]

GTK now provides a strong margin trading experience and the right capital partners come along it can bring in a lot of yield. One way to invigorate usage is with a new token that’s airdropped based on usage of GTK, which we’ve considered but are currently focused on Rowan for now