Sifchain (EROWAN) price has declined today.
The price of Sifchain (EROWAN) is $0.000291570990 today with a 24-hour trading volume of $70,484.28. This represents a -15.037864642323026% price decline in the last 24 hours and a -27.699041425360733% price decline in the past 7 days. With a circulating supply of 2.5 Billion EROWAN, Sifchain is valued at a market cap of $732,987.
What is Sifchain?
Sifchain aims to be the first Omni-Chain DEX, targeting 20–25 blockchains for cross-chain integration.
The targeted blockchains represent the overwhelming majority of all cryptocurrency trading volume, meaning that the whole cryptocurrencies liquidity can be accessed on-chain through the Sifchain DEX.
As a decentralized exchange, Sifchain combines liquidity pools and order books for optimal order execution, while implementing adaptive AMMs for limit orders and token swaps.
Traders will be able to place limit orders that are executed against the liquidity pool as the market price fluctuates. Sifchain will also allow traders to use margin on their trades by borrowing from the liquidity pool. The interest rate is set based on market demand and liquidity supply.
Liquidity providers are able to add liquidity into Sifchain’s liquidity pools symmetrically or asymmetrically, while front-running in order placements is prevented through a commitment-reveal scheme.
Sifchain allows coordinated deployment of capital by DAOs, and simplifies the process of blockchain integration by lowering the barriers for open-source communities.
What is ROWAN?
Rowan is both Sifchain’s decentralized governance token and settlement token.
Sifchain’s validators can participate in the SifDAO with voting power that is proportional to the amount of Rowan they hold.
Rowan is also the settlement token for each liquidity pool in the Sifchain DEX, meaning that each pool contains Rowan as one asset and an external asset as the other. This means that traders swapping two external assets will use ROWAN as a settlement token.
How does Sifchain work?
Sifchain is an application-specific blockchain built on top of the Cosmos SDK and uses Tendermint’s consensus mechanism, which provides finality guarantees. This is an important feature for cross-chain token swaps.
To accomplish cross-chain support, Sifchain uses a concept called Peggy to create a pegged token model. These peg zones are what allow assets to be easily transferred between Sifchain and external chains. This model is described as a 2-way peg (2WP).
Sifchain validators stake their own Rowan and the Rowan that is delegated to them by other Rowan holders. Sifchain’s consensus set consists of the top 100 validators with the highest quantity of Rowan staked. This validator set is refreshed every block. so that the changes to a validator’s total stake and its participation in the set are reflected almost immediately. There is no explicit minimum stake amount required to be a validator on Sifchain, as the amount staked by the lowest validator in the set serves as an implicit minimum.
Any Sifchain user can delegate their tokens to any number of validators on the network. Delegating to a validator entitles the user to gain block rewards by paying a commission fee to the validator. Delegating to a validator does not give that validator direct control over the delegator’s funds. However, the delegator does assume the risk of being slashed if the validator misbehaves.
Where can you buy Sifchain?
EROWAN tokens can be traded on decentralized exchanges and centralized crypto exchanges. The most popular exchange to buy and trade Sifchain is Sifchain, where the most active trading pair ATOM/EROWAN has a trading volume of $12,971.00 in the last 24 hours. Other popular options include Osmosis and AscendEX (BitMax).
What is the daily trading volume of Sifchain (EROWAN)?
The trading volume of Sifchain (EROWAN) is $70,695.77 in the last 24 hours, representing a 43.32% increase from one day ago and signalling a recent rise in market activity.
What is the all-time high for Sifchain (EROWAN)?
The highest price paid for Sifchain (EROWAN) is $1.41, which was recorded on Mar 17, 2021 (almost 2 years). Comparatively, the current price is -100.0% lower than the all-time high price.
What is the all-time low for Sifchain (EROWAN)?
The lowest price paid for Sifchain (EROWAN) is $0.000208665121, which was recorded on Jan 02, 2023 (about 1 month). Comparatively, the current price is 40.0% higher than the all-time low price.
What is the market cap of Sifchain (EROWAN)?
Market capitalization of Sifchain (EROWAN) is $732,987 and is ranked #2171 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of EROWAN tokens (2.5 Billion tokens are tradable on the market today).
What is the fully diluted valuation of Sifchain (EROWAN)?
The fully diluted valuation (FDV) of Sifchain (EROWAN) is $874,850. This is a statistical representation of the maximum market cap, assuming the maximum number of 3 Billion EROWAN tokens are in circulation today. Depending on how the emission schedule of EROWAN tokens are designed, it might take multiple years before FDV is realized.
How does the price performance of Sifchain compare against its peers?
With a price decline of -27.58% in the last 7 days, Sifchain (EROWAN) is underperforming the global cryptocurrency market which is up 3.65%, while underperforming when compared to similar Ethereum Ecosystem cryptocurrencies which are up 3.92%.
What is the market sentiment of Sifchain today?
The community is bearish as more than 71% of users are feeling bad about Sifchain (EROWAN) today.
How to add Sifchain (EROWAN) to MetaMask?
Adding Sifchain (EROWAN) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import EROWAN as a token. You can copy EROWAN’s contract address (0x07bac35846e5ed502aa91adf6a9e7aa210f2dcbe) and import it manually, or add EROWAN to MetaMask with one click on CoinGecko.
Add EROWAN to MetaMask.