My name is tusz and I come representing Sifchain (Sif was a norse goddess – no relation to Sifu). I am here because I would like to begin a discussion about how Sifchain & Frax Finance could collaborate to bring deep $FRAX and $FXS liquidity to Cosmos.
A Sifchain <> Frax partnership would benefit the Frax community greatly because all ERC20 tokens brought over Sifchain’s Peggy bridge will be transferable throughout all Cosmos SDK built chains with IBC, thus enabling deep liquidity on Cosmos DEXes.
Sifchain is a Cosmos SDK built DEX. Our primary value proposition is that we enable capital efficient cross-chain trading through two features: omni-EVM and deep margin. Other interesting aspects of Sifchain include our use of continuous liquid pools and having ROWAN as a base pair for all pools.
Omni-EVM: Sifchain aims to be the first Omni-Chain DEX, connecting to 20–25 blockchains for cross-chain integration. The targeted blockchains represent the overwhelming majority of all cryptocurrency trading volume - thus actively traded assets from all chains will be accessed through the Sifchain DEX. Omni-EVM will enable any ERC20 token, any Cosmos Token, and any token that exists on ANY EVM compatible blockchain to be imported and traded in Sifchain.
Deep Margin: Hopefully coming as soon as Q2, Sifchain will deploy its novel architecture for margin trading - allowing traders to use leverage 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 pools symmetrically or asymmetrically, while MEV front-running in order placements is prevented through a commitment-reveal scheme.
Deep Margin + Omni-EVM: Any ERC20 token or Cosmos Network token will be able to be used as collateral in any margin trading position. Likewise, any such token can be longed or shorted. This unlocks nearly unlimited margin trading pairs and enables users to utilize this feature on tokens that have previously never been possible.
As outlined above, Sifchain is positioned to be one of the leading DEXes in Cosmos. We would like to collaborate with the community here to bring about deep FRAX liquidity on Cosmos DEXes, starting with Sifchain. Currently, our FRAX pools currently have 0 volume and abysmal depth, while FXS doesn’t fare much better. I wanted to begin this conversation to begin discussing how Sifchain & FRAX could collaborate to the benefit of both chains. If you would like to try our dex, you can do so here: dex.sifchain.finance.
Keep in mind that for legal reasons, residents of certain jurisdictions are geoblocked from accessing the dex. To remedy this, some parties are in the process of launching dockerized versions of the UI on Akash Network decentralized cloud.