How to stake Sifchain — Guide. New Staking APY!
WHAT IS A SIFCHAIN?
Sifchain is committed to creating a blockchain and cryptocurrency world where any asset across the globe can move freely between different blockchains, and do so quickly and at the cheapest price possible.
SifDEX is a decentralized exchange (DEX) that enables users to swap digital assets from a wide variety of blockchain ecosystems in one place, by connecting all major blockchains together using advanced bridging technology that we call ‘Peggy’. Currently, Sifchain enables routing from Ethereum main net to the Cosmos Ecosystem. This is accomplished using Peggy from Ethereum to Sifchain, and via IBC from Sifchain to the other Cosmos-based blockchains. In the future, up to 25 major blockchains will be able to interact seamlessly through the Sifchain interface.
Sifchain is built with the Cosmos SDK and inherits the cross-chain capabilities of Thorchain. Uniquely, however, Sifchain uses pegged tokens to support cross-chain transactions across a wide array of blockchains.
The Rowan Token
ROWAN is Sifchain’s native currency, and it serves a multitude of functions within the ecosystem:
- SifDEX’s universal liquidity pairing token is ROWAN. Each asset is coupled with ROWAN to create an LP pool, which allows token swaps. As a result, ROWAN makes up half of DEX’s TVL. As TVL grows, so does the demand for ROWAN.
- Sifchain’.s crypto-economic security is likewise dependent on ROWAN. As per Tendermint consensus, node validators should stake an amount at least equal to the DEX’s TVL to ensure that the network is secure and the cost of malicious behavior (slashing) is not worth anything a validator can get from fraudulence.
- As a result, increased TVL has a multiplier effect on ROWAN’s Market Cap. Half of the TVL on the DEX must be made from ROWAN as the TVL level rises. Validators should bond an amount at least equal to the TVL to ensure this. As a result, the system requires $3 of ROWAN for every $1 of any external asset added to SifDEX.
- To compete for a spot in the validator pool, node validators must bind ROWAN. Block rewards are only available to the top 100 validators (based on the number of ROWAN staked). ROWAN is used to pay block rewards.
- Swap and transfer transaction costs are paid in ROWAN.
- ROWAN is used to compensate for liquidity provision.
- The ROWAN Token is the Governance Token of Sifchain.
Where can I buy ROWAN?
The best place to buy ROWAN is on SifDEX!
- ROWAN is also available on AscendEX.
- ROWAN is also available on osmosiszone.
The first step to trading on the SifDEX is to connect your wallets and import digital assets onto Sifchain.
If you are new to the Cosmos Ecosystem, we recommend using the Keplr Wallet. If you would also like to interact with Ethereum, we recommend using Metamask. Once you have installed and connected the wallets, you can import funds to Sifchain (see below).
Connect Wallets
Step 1- Open https://dex.sifchain.finance/. You will see the option to Connect Wallets in the bottom left of the screen, click here:
This will bring up a list of the available networks to connect to:
Congratulations — now you are connected! You can buy ROWAN by swapping your Assets.
Staking Rowan
Step 1-Next, open our website Smartnodes.one, Scroll Down on the home page. You will see the list of tokens, all with a Delegate button.
Search for the SIFCHAIN(EROWAN) token, click the Delegate button.
Step 2- Click on Delegate again.
Step 3- Click on Connect Wallet.
Step 4- Select Keplr — Click Approve.
Step 5- Input account name, make sure SIFCHAIN is selected in Import addresses for the chain. Click Next.
Step 6- Confirm check your address is correctly added and click on save.
Step 7-You have successfully imported your ROWAN into SmartNodes.
Next, click Delegate to proceed into the stake.
Step 8- Now select validator, input amount you want to stake, Fill gas fee as 3000, select Keplr wallet, click on Send.
Step 9- Approve the transaction in Keplr pop-up window.
Step 10- Congratulations, You have successfully staked yours ROWAN with Smartnodes ( You can also see your asset allocation, rewards, balance).
About Smartnodes
- Smartnodes Validator offers 100% Fully refunded Slash and double sign protection.
- We are highly active in the cosmos and lend support where we can. We are community-driven. Smartnodes validator actively Votes on proposals to help ensure proper governance.
- The Infrastructure used by Smartnodes is only the Best of the Best with 10 Layers of security in place to protect your assets.
- We are currently validating on 28 chains and growing, check out our website for our Validator nodes.
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