Sifchain Finance describes itself as “the world’s first omni-chain decentralized exchange” and aims to work across multiple blockchains for an efficient and smooth transfer of value.
Sifchain finance was inspired by the Thorchain project.
It aims to work across multiple blockchains for an efficient and smooth transfer of value.
It will extend support for the initial 25 top blockchains, such as Bitcoin, Ethereum, Binance Chain, Polkadot, and EOS.
Sifchain wants to provide it’s users with an experience similar to or exceeding that of the one currently provided by centralized exchanges.
It offers multiple trading modes and order types, centralized exchanges also support a large number of blockchains.
Sifchain Finance will allow both spot and margin trading.
It will also feature different order types with conditional executions and provide protection against front-running.
Sifchain DEX has the potential to reinvent decentralized trading.
The project is designed with Cosmos SDK. which is a dual-layer network specifically designed for the cross-chain transmission of data, tokens, and other assets.
The Sifchain project uses the Tendermint consensus algorithm and the proprietary Inter-blockchain Communication Protocol (IBC). This allows protection against front-running and chain-spamming attacks.
Sifchain has chosen Cosmos to provide a high throughput system with faster processing times and lower fees. This will enable a performant interface for cross-chain operations through a two-way peg system.
Sifchain Finance will derive liquidity from coordinated deployments of capital from multiple cryptocurrencies through DAOs.
It will also feature a hybrid order book.
And with a mix of liquidity pools and full order book functionality,
Sifchain Finance will protect against suppression attacks, in which a malicious actor intentionally sends multiple no-value transactions, in order to overwhelm the blockchain’s memory pool. The intention is to fill them up with useless but permitted transactions so that other proper transactions wouldn’t go through. Instead, the system will be forced to process an attacker’s profit-taking transaction first.
Sifchain Finance will protect against this kind of spamming by forcing validators to sort out transactions with the highest fees first, thereby, allowing users to force the system to prioritize valid and honest transactions first, making it very expensive for attackers to carry out such operations.
Decentralized Exchanges (DEXs) = DeFi-based exchanges
DEXs currently have issues with front-running, impermanent losses, and limited support to only one or two at most blockchains. These limit functionality.
old DEX = basic interfaces, limited liquidity, and rudimentary algorithms.
The protocol’s governance token is Rowan (tiker RWN), which is used for voting on all governance matters.
It’s emitted as a block reward for all validators, powering the network.
It is also used for market marking, as in a two-way peg, one token must always be the Rowan (RWN) token carrying equivalent worth.
For settlement, the protocol must buy Rowan tokens continuously from the market, ensuring value accrual and constant demand.
https://sifchain.finance/wp-content/upl ... ed-2.0.pdf
https://amaloversclub.medium.com/recapi ... 4f65efcac4
Multiple important and reputed funds and ventures have invested in it. They include NGC ventures, Alameda research (responsible for Serum and FTX), Genblock capital, AU21 capital and Master ventures, etc.
MEDIUM : https://medium.com/sifchain-finance
https://www.accesswire.com/618999/Sifch ... Market-Cap
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