Strategic partnerships formed as Persistence announces that $XPRT is now listed on Sifchain.
Persistence recently announced that Sifchain listing for Persistence $XPRT. This implies that holders of persistence will now have the ability to amplify XPRT on the Sifchain Decentralized exchange!
What is Sifchain?
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.
Sifchain combines the best elements of order books and liquidity pools for great order execution. Sifchain also portrays the unity of the blockchain industry and the great benefits of collaboration between other chains. Like Persistence, Sifchain has a great part to play in DeFi.
What Sifchain offers
A liquidity mining rewards program will be organized by Sifchain to incentivize pooling Cosmos Network tokens such as ATOM, DVPN, AKT, OSMO, XPRT, IRIS, and CRO.
- More Performant:
Sifchain is largely more effective than the current leading DEXes due to the COSMOS SDK. This means fees will be lower and trades will be faster.
- True Omni-chain Dex:
Sifchain will also support cross-chain transactions for 20–25 of the top blockchains such as Bitcoin, BinanceChain, Polkadot, and EOS.
Also, by providing liquidity in these pools, liquidity providers can earn income Swappers can send a transaction to a liquidity pool, trading tokens they have for those on the other side of the pool.
The need to amplify XPRT on Sifchain?
Amplifying XPRT on Sifchain has a lot of gains.It can help increase yield for an XPRT holder. Sifchain as a DEX also gives opportunity for traders and developers to give feedbacks and participate in its network.
Taking benefits of the Sifchain Decentralized Exchange will require that users have a Keplr wallet. Having a Keplr wallet will allow users to manage their XPRT assets on Sifchain and a Metamask wallet that also allows users to manage their assets on Ethereum network.
Validator and delegator rewards
Sifchain has been running a validator subsidy program that starting from February 19, 2021, alongside the launch of BetaNet. Delegation is a good way to earn validator income without running a personal validator.
Liquidity and swapping rewards
Sifchain permits users to swap any asset on any bridged chain(like Ethereum) for other assets. Liquidity providers can add liquidity into Sifchain’s liquidity pools where they earn income.
Persistence is an interoperable protocol built to facilitate the creation of next-gen financial products. The Persistence tech stack provides the infrastructure to effectively bridge the realms of DeFi and traditional finance in a variety of areas, whilst also enabling the creation of innovative crypto-facing solutions to expand the DeFi and NFT sectors