Sifchain in collaboration with StaFi Protocol to launch ROWAN/rATOM liquidity mining program.

When a cryptocurrency user lends thier token to a lending protocol, they are said to provide liquidity in return the user get commission on the trades they engage.

Liquidity mining is when a liquidity provider earns a third token, this third token is the token of the protocol that lends out thier token, liquidity mining is one of the major means to earn money in cryptocurrency because you earn passive income by depositing crytocurrency into a liquid pool.

What is sifchain?

Sifchain is a decentralised exchange that combines the best elements of liquidity pool and order book for optimal order execution, other decentralised exchange is predominant for liquidity pool algorithm for token swap but sifchain reevaluate the formula use for liquidity pool algorithm from first principle of complexity theory to implement adaptive AMMs suitable to limit order and token swap.

What is Rowan?

Rowan is Sifchain’s governance token. Sifchain’s validators can influence protocol changes with votes weighted in proportion to the amount of Rowan they hold. Rowan is provided to validators through protocol emissions (also known as block rewards) in exchange for staking to participate in network consensus.

Sifchain will list the ROWAN/rATOM pair at 10:00 PM, PST, Oct 20, 2021. At time of launch, the ROWAN/rATOM pool will be eligible for two different liquidity mining reward programs:

1) Through their Sif’s Bloom program
2) Through a Sif’s Bonus Pool.

The Sif’s Bloom program will earn users ~65178737.90% APY in ROWAN on their liquidity positions, while the Sif’s Bonus Pool program will allocate an additional 200,000 ROWAN to be awarded to those who add liquidity to the pool over its first 2 weeks. The ROWAN token is the utility token of Sifchain protocol.

The Sif’s Bonus Pool will last 2 weeks and start from 10:00 PM, PST, Oct 20, 2021. Sif’s Bloom will be active until November 14, 2021. We encourage all users to pool rATOM and/or ROWAN and earn ROWAN rewards, which can be claimed on the reward dashboard of Sifchain DEX.

In order to encourage new rATOM minting activity, StaFi also prepared a FIS token reward pool valued at $10K USDT for staking ATOMs through StaFi. Users will get FIS rewards at a ratio of 0.2 FIS per staked ATOM.

How to Participate:

Here is the step guide on how to participate on StaFi’s rATOM minting program and Sifchain rATOM liquidity mining program:

Step 1: Mint rATOMs, claim FIS rewards and swap rATOM into ERC20 format.

Step 2: Bridge rATOM into Sifchain, please refer to this guide.

Step 3: Deposit rATOMs into ROWAN/rATOM Pool.

Step 4: Claim ROWAN tokens every week, please check the FAQ of claiming ROWAN rewards.

In conclusion, this collaboration is going to yield great traction for crytocurrency users, Meanwhile, StaFi will also work with Sifchain DEX to research on the liquid staking solutions for ROWAN, which will help ROWAN stakers to generate the maximized staking rewards while still enjoying the friendly liquidity like rATOM.

rToken App
Telegram Chat
Telegram Announcements

Blockchain Enthusiast | | Community Manager | | Digital Marketer.