Who else is excited about Sifchain’s new Ascension program and PMTP debut?
We have been following Sifchain (Ticker: ROWAN) since last summer (Thank you Johnnie Cosmos for the tip!) and it has been a wild rollercoaster for sure (yes, everything in crypto is, but this has been like a whipsaw). You can read our first blog on it here (relative link to 999dwebasap.com/sifchain)
But overall, investors should be satisfied with it (I know the $ROWAN chart is painful to look at) by all the generous APY programs since last summer.
On April 19, 2022 – a huge shift, and almost a huge leap forward, will take place.
And this is the new Ascension Program and the innovation called PMTP.
Most in the Discord and Telegram seem confused by it, a the LP pools will be dropping APR (which are currently pegged at 100% / 300%)- so are nervous.
Announcement of New Program
On Tuesday April 19th Sifchain will be launching Sif’s Ascension & PMTP. With Sif’s Ascension, all current LP will automatically move into this program, and it will introduce a unbonding period of 7 days while LM rewards continue to accrue and auto-compound every block ( 6 seconds). The old reward’s program accumulated data will no longer be displayed.
Important Note – the 7 day Unbonding still earns rewards
So when we first heard about the 7 day lockup for LP funds, we freaked out. Our experience in Osmosis had us jump to the conclusion that we would not earn during that unbending period, or if earn, earn less.
That is not the case here. Even during the 7 day unbonding, you will earn the same as if you were fully bonded.
So fear not, fellow degen, fear not!
Hack – Open 7 Cosmos Wallets For Each Day Of the Week
There is also discussion in the telegram investor group of having 7 different wallets, and unbending each one on a different day of the week. This way you’ll have flexibility to change your LP pool (from say USDC to ATOM) on every day of the week.
We are still analyzing and deciding on this take.
I’m using multiple wallets and will always be in unbonding mode on each wallet so that I’ll have liquid assets handy every day. This is for risk management and so that I can make decisions daily about whether to repool to same pool or into a new pool, or stake — which will depend on market sentiment, and what’s going on in the individual projects.
David — Sifchain listing council
Curious what PMTP is? (Protocol Monetary Trade Policy)
And here is the google doc to explain it
https://docs.google.com/document/d/1PEN17uuMgjGXp8jt4dupouLBNO8gaVwYorQMlEZTomY/edit
Best Said In This Poster
And these are chats in discord about it
Our Thoughts – Trust This Dev Team & Support Innovation in the Space
Not going to lie, we are a bit nervous. From previous transitions to new programs over the last year in Sifchain it has been rough.
But we see the developers listening to the community, engaging, and adjusting.
So while some other investors in the Telegram are going to move to the sidelines and hope no IT bugs, we are going to stick in it – go into the 7 day lockup, and trust this will work.
Check out https://sifchain.finance, and as always, DYOR and not just blindly listen to some anon on the internet. 😝