Old Liquidity Mining Rewards Programs

Current Incentives

Ending 18/04/2022 - Sif's Expansion Liquidity Mining Program

  • All LP pools will have a minimum ~100% APR for the duration of the program.

  • Sifchain will additionally maintain a ~300% Total APR across 5 pools until either: Margin Trading is released, the community decides to end the program via the monthly vote, or the program needs to be halted (due to market and/or economic conditions).

    • ROWAN:ATOM will maintain a ~300% APR for the entire duration of the program.

    • ROWAN:ETH will maintain a ~300% APR for the entire duration of the program.

    • Stable coin vote - 1 token will win from this category

      • This vote will be handled via on-chain voting through sending a tx via Keplr. All votes will be captured via the MEMO field of each transaction.

      • All participants can vote for up to 1 stable coin

      • The votes will be weighted by amount of ROWAN a user has.

      • All votes will be weighted by the amount of ROWAN a user has. All votes will also be normalized at the end to ensure a 50:50 balance of all votes is held between LP’s and Stakers

        • Example: if we receive 12 votes in total, with 8 from LPers and 4 from delegators, all LPers’ votes will receive a weight of .75 (8*.75 = 6) and all delegators’ votes will receive a weight of 1.5 (4*1.5 = 6) in order to reach the prescribed voting ratio of 50:50 LPers:Delegators.

      • This vote will be done before the 'Bonus coin vote' so everyone knows which token won this vote before voting for the 'Bonus coin vote'.

    • Bonus coin vote - 2 tokens will win from this category

      • This vote will be handled via on-chain voting through sending a tx via Keplr. All votes will be captured via the MEMO field of each transaction.

      • All participants can vote for up to 4 bonus coins.

      • These votes CAN include stable coins.

      • Enter token names separated by a comma in the MEMO field

      • Each vote will be counted and weighted linearly from 1 to .125

      • All votes must be unique

      • Example memo: LGCY,ZCX,JUNO,CRO

        • LGCY weight = 1

        • ZCX weight = 0.5

        • ETH weight = 0.25

        • CRO weight = 0.125

      • Example memo: JUNO,JUNO, JUNO, JUNO (invalid)

        • ETH will only be counted once at a weight = 1

      • The votes will be weighted by amount of ROWAN a user has.

      • All votes will be weighted by the amount of ROWAN a user has. All votes will also be normalized at the end to ensure a 50:50 balance of all votes is held between LP’s and Stakers

        • Example: if we receive 12 votes in total, with 8 from LPers and 4 from delegators, all LPers’ votes will receive a weight of .75 (8*.75 = 6) and all delegators’ votes will receive a weight of 1.5 (4*1.5 = 6) in order to reach the prescribed voting ratio of 50:50 LPers:Delegators.

  • Every month until Margin Trading is released, the community will vote to extend, modify, or end this inflationary liquidity mining program. This will allow the community to view historical inflation and price movements and project the same data points in the future.

Important notes on this program:

  • For the initial implementation of this program, there will be no vesting constraints on the rewards that are earned from this program. However, we will be looking into implementing a time-specific vesting schedule which will reward those for keeping their liquidity pooled for longer durations. This decision is due to time constraints, the desire to continue rewards when Sif’s Bloom ends, and other team priorities (like Margin Trading and Omni-EVM).

  • Analysis will also be done to determine if the ~300% total APR for primary pools and ~100% APR for all other pools can come from a combination of swap fees, rewards from other projects, and inflation. Inflation would be used to cover any APR not generated by swap fees or rewards from other projects.

  • All existing liquidity in these pools will be eligible to earn rewards (for both the 300% APR voted pools and the ‘all-other’ 100% APR pools). For example, this means that once launched, all existing liquidity in the ROWAN:ATOM pool will start to earn rewards (as well as newly added liquidity).

  • Reward amounts are calculated based on the price of ROWAN and your overall liquidity position in each respective pool.

  • Hourly reward amount = (APR / 365 days / 24 hours) x (Pool Value in ROWAN)

  • The value of your Liquidity Position (valued in Rowan) changes depending on the fluctuation of Rowan price.

  • When calculating rewards, both assets within your pool value are converted to ROWAN and the pool APR is applied to that total value. This happens on an hourly basis to capture and determine rewards for any given pool.

  • Sifchain's IL Mitigation feature WILL be in place for this new program as well. See more details here on this:

    • We have implemented an Impermanent Loss (IL) Mitigation. If a user realizes IL, the user will continue to earn rewards based on the realized IL amount. These values are based on the Rowan value of a user’s add. For example, imagine a user deposits 50K Rowan and 50K Rowan worth of USDT for a total of 100K Rowan worth of assets into a Sifchain liquidity pool. Let’s say this amount drops to 80K worth of Rowan due to price fluctuations. The user removes all 80K Rowan worth of assets. That user will continue to earn LM rewards based off of the 20K Rowan worth of assets that was lost due to IL (the 20k here is called the ‘IL amount’). The IL amount ONLY comes into play if a user removes their liquidity and realizes IL. If that user were to add additional liquidity after realizing this IL, their LM Reward eligibility amount would be the sum of their IL amount + any added liquidity amounts.

Important notes on voting for the 5 pool choices:

Voting can now take place in two ways - either on the DEX itself or by sending individual transfers to a specific address.

To vote in the UI - visit dex.sifchain.finance

To vote using direct wallet transfers - follow the steps below:

  • Send a transaction to address sif1seftxu8l6v7d50ltm3v7hl55jlyxrps53rmjl8.

  • This transaction should be for .1 ROWAN

  • For the Stable Coin Vote:

    • In the memo field, you will indicate the 1 stable coin pool you are voting for. Please follow the below directions exactly when inputting information into the memo field:

      • List ONLY 1 token you are voting for.

  • For the Bonus Pool Vote:

    • In the memo field, you will indicate the 4 coins you are voting for.

    • Please follow the below directions exactly when inputting information into the memo field:

      • List ONLY 4 tokens you are voting for.

      • List 4 unique tokens you are voting for.

      • List them in order of importance to you so the first listed token will get the 1.0 weighting.

      • All tokens should be separated by commas. For example: LGCY,JUNO,AAVE,CRO

    • Highly recommend you do NOT vote for ATOM or ETH as this will be 300% no matter what.

  • Votes are limited 1 per Sifchain address. So if you submit two transactions, only 1 will be counted.

Sif's Expansion Dates

  • Phase 1: 11/22 - 12/21

  • Phase 2: 12/21 - 1/17

  • Phase 3: 1/18 - 2/14

  • Phase 4: 2/15 - 3/14

Last updated