Rewards Programs

Reference this page for all current reward programs that we are running at Sifchain!

Special Programs

IBC Cosmos-Assets Liquidity Mining Program

With the introduction of .42 and IBC within Sifchain, we have decided to launch a special Liquidity Mining program (one that we are calling the 'IBC LM program'). The rules, and important details of this program are as follows:

  • We will be using the same concepts of our .39 Liquidity Mining Program (as outlined here). This explains our usage of tickets and ticket multipliers, a global bucket, claiming your rewards, impacts of withdrawing liquidity, and IL protection.

  • The total global bucket amount for this program will be 10,000,000 ROWAN. This bucket will be used as the single bucket across all eligible pools.

  • The eligibility window will be set to 6 weeks, starting on August 24, 2021. This means any liqudity added to our eligible pools within this time frame will earn rewards.

  • The full maturation time period is also set to 6 weeks as well.

    • For example:

      • If you add on eligible liquidity on day 1, you will earn rewards for 6 weeks and full maturation will occur at 6 weeks.

      • If you add eligible liquidity on week 5, you will earn rewards for 1 week, and still have 6 week maturation period from the time you added.

  • The eligible pools are all CosmosSDK tokens on IBC (ex: Atom, DVPN, AKT, etc.). This means if you add any liquidity to ANY of these pools, you will be eligible to earn rewards.

Summary of eligibility requirements:

  • A user will be eligible to receive these rewards IF they add liquidity to any Sifchain <> Cosmos Asset pool. As we add new Comos tokens to the DEX, those will also automatically be included as well.

  • A user will be eligible to receive these rewards IF they add liquidity during the eligibility window. This window is set for 6 weeks starting on August 24, 2021.

  • A user will earn full maturity of their rewards once they keep the associated liquidity in 6 weeks.

  • If a user removes liquidity from an IBC pool, this will be treated as a normal remove liquidity event and subject to our ticket burning logic (as outlined here).

  • If a user withdraws ANY of their liquidity across ANY pool and is receiving any rewards from the legacy .39 program, they will be subject to forfeiting all their .39 rewards (as outlined here).

Claiming

  • Come the 2nd week of the program, users will be eligible to claim their rewards in the DEX UI. They can do this by navigating to the 'Rewards' page in the DEX and click the claim button.

  • All claimed rewards will be paid out at the end of the week. This means that if you were to submit a claim request for your claimable rewards, that request will be processed on Friday or Saturday of that week, unless specified by the Sifchain team.

Recommendations:

  • You should not remove ANY liquidity across ANY pool if you are receiving .39 rewards. If you do so, you are subject to the DQ rules of that program.

  • We HIGHLY recommend that anyone that is interested in the new IBC LM program to pool new liquidity. Do not remove any as-is liquidity to move to the new IBC LM eligible pools.

.39 Liquidity Mining and Validator Subsidy Rewards on Sifchain

Liquidity mining rewards are rewards given for adding liquidity in the Sifchain liquidity pool subsystem, whereas validator subsidy rewards are provided for staking or delegating to the validator subsystem.

Liquidity Mining & Validator Subsidy Rewards Introduction

Sifchain is running a liquidity mining program. There are 45 million ROWAN being initially allocated to this current rewards program. The eligibility window for the program started on Feb 19, 2021 and is set to end on June 30, 2021. All liquidity and stake that is added to Sifchain during the eligibility window will be eligible for LM and VS Rewards. Rewards will continue to accrue up until August 4th, 2021 (regardless if a user has added liquidity early or late).

For LM rewards, the total rewards in the program are split between the different liquidity providers based on the proportion of total liquidity in the system that they have been providing over the duration of the program. For VS rewards, the total rewards in the program are split between the different users who have provided stake or delegations. Their total possible reward grows the longer they keep their liquidity in the system, up to a maximum of 4 months.

Updates to our LM and VS Program, valid as of July 27, 2021

  • On the very last block of .39 before we migrate to .42, we will take a snapshot of the current state of participants within the LM/VS program. This snapshot will include:

    • Reward Type: LM or VS

    • Each participant's total claimable amount as of August 4th

    • Each participant's total fully projected amount as of August 4th

    • Each participant's full maturation date

      • Significance of the August 4th date: This is the date when rewards stop accruing. So by choosing this date for the claimable and fully projected amount, we ensure that all users have the ability to be paid out in full.

  • We will use this information to determine a payment schedule for each participant.

  • First, we determine each participant's Payment Schedule dates. We will have 3 various 'Payout Schedules' that a participant can fall into, as determined based on their full maturation date. Those payout schedules are as follows:

    • Payout Schedule #1: Full Maturation Date falls before September 1. Payout Dates:

      • August 6

      • August 13

    • Payout Schedule #2: Full Maturation Date falls between: September 1 - October 1. Payout Dates:

      • August 6

      • August 13

      • August 20

      • August 27

      • September 3

      • September 10

    • Payout Schedule #3: Full Maturation Date falls between October 1 - End of the program. 12 Payout Dates:

      • August 6

      • August 13

      • August 20

      • August 27

      • September 3

      • September 10

      • September 17

      • September 24

      • October 1

      • October 8

      • October 15

  • Next, we will determine how much should be paid out to each participant on those dates. To do this, we take the:

    • a) claimable amount as of August 4th (ie: CurrentClaimable) and

    • b) your current outstanding previously claimed amount (ie ClaimedRewardsSinceFinalDispensation) and

    • c) total fully projected amount as of August 4th (ie: MaturatedRewardsTotal),

And we create a payment schedule using the following logic:

  • MaturatedRewardsTotal - CurrentClaimable = Weekly Regular Distribution Total (wrdTotal).

  • We take the wrdTotal and divide that by the number of payment dates to get a per week distribution amount.

We take this per week distribution amount and create a payment schedule as such:

  • First payment schedule date = CurrentClaimable + ClaimedRewardsSinceFinalDispensation +

    per week distribution amount.

  • Remaining payment schedule dates = per week distribution amount.

  • To illustrate the above logic with a few examples:

    • Example Scenario A, Payment Schedule #1:

      • User: sif123

      • Full maturation date = August 20

      • MaturatedRewardsTotal: 125

      • CurrentClaimable: 25

      • WRDTotal: 100

        • Math is MaturatedRewardsTotal - currentClaimable = wrdTotal

      • Payout dates and amounts:

        • August 6 = 25(current claimable amount) + 50(100/2 weeks of WRD)

        • August 13 = 50

    • Example Scenario B, Payment Schedule #2:

      • User: sif456

      • Full maturation date = September 20

      • MaturatedRewardsTotal: 100000

      • CurrentClaimable: 30000

      • WRDTotal: 70000

        • Math is MaturatedRewardsTotal - currentClaimable = wrdTotal

      • Payout dates and amounts:

        • August 6 = 30000(current claimable amount) + 11666(70000/6 weeks of WRD)

        • August 13 = 11666

        • August 20 = 11666

        • August 27 = 11666

        • September 3 = 11666

        • September 10 = 11666

    • Example Scenario C, Payment Schedule #3:

      • User: sif789

      • Full maturation date = October 20

      • MaturatedRewardsTotal: 200000

      • CurrentClaimable: 80000

      • WRDTotal: 120000

        • Math is MaturatedRewardsTotal - currentClaimable = wrdTotal

      • Payout dates and amounts:

        • August 6 = 80000(current claimable amount) + 10909(120000/11 weeks of WRD)

        • August 13 = 10909

        • August 20 = 10909

        • August 27 = 10909

        • September 3 = 10909

        • September 10 = 10909

        • September 17 = 10909

        • September 24 = 10909

        • October 1 = 10909

        • October 8 = 10909

        • October 15 = 10909

  • In order to maintain eligibility for this new program and for each payout week, participants must follow the below rules:

    • For LM, a user cannot remove any liquidity at any point before their final payment date.

    • For VS, a user cannot remove any of their stake or undelegate their stake before their final payment date.

    • If a participant does any of the above actions, they have disqualified themselves from future payouts. Participants, if disqualified, will not be eligible to earn any additional payouts from that point forward.

  • With these new rules, there will be no need to 'manually claim' any amounts. The distributions will happen automatically on the specified payment schedule dates.

  • For additional specific details on exact payout amounts, please reference this google sheet where you can filter by your address and see your specific payout schedule details.

    • Additional help on columns:

      • Address - Your sifchain address

      • reward_type - The reward type (either LM or VS)

      • claimablerewardstotal - claimable amount as of August 4th

      • maturatedrewardstotal - total fully projected amount as of August 4th

      • maturitydate - Full maturation date

      • weekly_regular_distribution_total - MaturatedRewardsTotal - CurrentClaimable = Weekly Regular Distribution Total

      • per_week_distribution_amount - Weekly Regular Distribution Total / num_weeks

      • num_weeks - Number of payment dates as determined by user's maturity date

      • distribution_date - Your determined Payment schedule (see above for these schedules)

      • claimedrewardssincefinaldispensation - Your current outstanding previously claimed amount

      • firstweekdistribution_amount - The amount that will be paid out on your first reward distribution date. This is CurrentClaimable + ClaimedRewardsSinceFinalDispensation +

        per week distribution amount.

FAQ for LM and VS Rewards Programs

  • How much ROWAN has been allocated to each program?

    • 45M ROWAN tokens are allocated to each LM rewards and VS rewards (90M ROWAN in total). Note that the liquidity mining rewards and the validator subsidy rewards are separate, as we encourage people to contribute to both programs as they provide different utilities for the system.

  • During which time periods can I add liquidity/stake/delegate and earn rewards?

    • During the program eligibility dates of 02/19/2021 - 06/30/2021. We highly recommend that you add as much as you can during this time period to both our liquidity pools and stake/delegate to earn maximum rewards across both programs.

  • Can I claim just a portion of my rewards?

    • No. The rewards are automatically disbursed on the set payment dates.

  • When can I claim my rewards?

    • No need to claim any rewards! We will dispense them automatically.

  • How can I get disqualified?

    • For LM, a user cannot remove any liquidity at any point before their final payment date.

    • For VS, a user cannot remove any of their stake or undelegate their stake before their final payment date.

      • If a participant does any of the above actions, they have disqualified themselves from future payouts. Participants, if disqualified, will not be eligible to earn any additional payouts from that point forward.

  • Where can I see my payment schedule?

  • How are commission-based rewards handled in this new payout schedule?

    • For validator subsidy rewards that are based on the commission of their delegations: we are assuming that ALL delegators allow their rewards to fully mature, which means that all validators will receive their associated VS rewards based on the assumption that these delegators wait their time (which maximizes the benefit to validators). This will be paid out in a) their 1st week (as a claimable amount if it is considered claimable at this time), and b) will also be split among their future payment schedule.

Community Token Giveaway

Rules for determining LM and VS rewards prior to July 27th

Please reference this sub-page to read about the rules that were used to determine a user's LM and VS rewards:

Please reference this sub-page to read about the rules that were used to determine a user's LM and VS rewards.

Community Token Giveaway

Community Token Giveaway

The eligibility for our Community Token Giveaway is now closed. The first 1/4 of tokens have been disbursed. Please refer back here for updates on distribution status.

People who qualified for the airdrop as per the rules of our community distribution in February will receive airdrop tokens in accordance with the new rules.

The eligibility for our Community Token Giveaway is now closed. The first 1/4 of tokens have been disbursed. Please refer back here for updates on distribution status.

  • Releases will occur on a weekly basis rather than a monthly basis. 1/4th of the expected monthly drop will be released per week for 12 upcoming drops total.

  • In order to receive subsequent airdrops, you must pool an amount of liquidity (as measured in Rowan) equal to or greater than 95% of the liquidity you receive during the week after each airdrop. A simple way to meet this criteria is to just pool the airdrop after receiving it although you can pool any asset(s) you like.

  • You must not unpool any liquidity from the address receiving the airdrop until the last airdrop has been distributed. Doing so will disqualify you from receiving future airdrops.

  • We want clarify that users can pool *95%* of their airdrop rather than the entire 100%. This allows users substantial leeway to trade some of the Rowan before pooling.

People who qualified for the airdrop as per the rules of our community distribution in February will receive airdrop tokens in accordance with the new rules.

  • Releases will occur on a weekly basis rather than a monthly basis. 1/4th of the expected monthly drop will be released per week for 12 upcoming drops total.

  • In order to receive subsequent airdrops, you must pool an amount of liquidity (as measured in Rowan) equal to or greater than 95% of the liquidity you receive during the week after each airdrop. A simple way to meet this criteria is to just pool the airdrop after receiving it although you can pool any asset(s) you like.

  • You must not unpool any liquidity from the address receiving the airdrop until the last airdrop has been distributed. Doing so will disqualify you from receiving future airdrops.

  • We want clarify that users can pool *95%* of their airdrop rather than the entire 100%. This allows users substantial leeway to trade some of the Rowan before pooling.

Ongoing Programs

Block Rewards

Block rewards are earned and distributed to Validators and delegators to existing validators in real-time as blocks are processed. To earn these rewards, you must be a validator and acting member in consensus, OR a delegator to a validator and acting member in consensus. For more information on this, please refer here.

Pool Rewards

Pool rewards are given to liquidity providers as a way to incentivize users to add liquidity to our system. They are earned each time a user swaps in/out of the associated pool. You must have liquidity in a pool and for swap activity to be occurring in that pool to earn pool rewards. For more information, please refer here.