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Sifchain DEX is going to List rATOM and Launch ROWAN/rATOM Liquidity Mining Program
Overview
StaFi will cooperate with Sifchain to introduce rATOM, the first liquid staking solution for ATOM, into the Sifchain DEX. This will be a great milestone for building StaFi’s rATOM user scenarios.
Sifchain is one of the great Cosmos Eco projects, which is the first decentralized exchange to enable trade between the Cosmos ecosystem and the Ethereum blockchain. Now the Total Locked Value (TVL) on Sifchain DEX is around $60 million USDT.
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. Check the Guide details.
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.
Future Plans
Beside the listing and liquidity mining programs of rATOM, StaFi and Sifchain will also cooperate on the trading competitions of Sifchain DEX, which will be live on Oct 25, 2021.There will be 10K USDT valued rewards for the top 10 traders on ROWAN/rATOM pool.
The details will be disclosed soon, so please stay tuned for the official announcement from Sifchain.
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.
References
- Sifchain DEX Portal:https://dex.sifchain.finance/#/pool
- StaFi rATOM Portal:https://app.stafi.io/rATOM/home
- Sifchain Bonus Campaign Guide: https://docs.sifchain.finance/resources/rewards-programs
- StaFi rATOM Guide: https://docs.stafi.io/rtoken-app/ratom-solution/staker-guide
About Sifchain
Built on the Cosmos SDK, Sifchain is the world’s first omni-chain DEX and is fast, cheap, and integrates a wide variety of different blockchains. It is more performant, has more robust cryptoeconomics for trading and security, more flexible trading capabilities, an extensible omni-chain roadmap, and eventual true DAO governance. It also does all this without sacrificing decentralization. Sifchain is the future of DeFi.
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About StaFi
StaFi is the first DeFi protocol unlocking liquidity of staked assets. Users can stake PoS tokens through StaFi and receive rTokens in return, which are available for trading, while still earning staking rewards. rToken is a synthetic staking derivative issued by StaFi to users when users stake PoS tokens through StaFi rToken App . rTokens are anchored to the PoS tokens staked by users and the corresponding staking rewards. rTokens can be transferred and traded at any time.
Website: www.stafi.io
Twitter: @Stafi_Protocol
Telegram Chat: https://t.me/stafi_protocol
Telegram Announcements: https://t.me/stafi_ann
Discord: https://discord.com/invite/jB77etn
Forum: https://commonwealth.im/stafi
