Ethereum-based altcoin Sifchain (EROWAN) is up nearly 45% from the seven-day low of $0.114 recorded on April 23. Cryptocurrency, which is in the 255th place according to its market value, is currently trading at $ 0.153.
Sifchain is a versatile DEX built with the Cosmos (ATOM) standard development kit. Last week, the project launched a new tokenomic system called Protocol Money Trade Policy (PMTP). The website of the project includes the following statements:
“Most protocols promote liquidity through high APYs [annual percent returns]. Users will drain a protocol when inflationary APYs drop, making it harder for projects to maintain liquidity. Keeping APYs high can lower the token price. We developed it as an answer to the problem."
According to the altcoin project, PMTP aims to increase ROWAN value so that the community wants to accumulate and supply liquidity in ROWAN over the long term. It does this by adjusting the ROWAN exchange rate on Sifchain, where it is most liquid, in small increments per block. You don't need to do anything special to take advantage of PMTP. The action is applied automatically. Over time, these trade-offs will become more and more affordable as ROWAN's purchasing power increases.
The altcoin listed on the giant exchange gained momentum
Singapore-based cryptocurrency exchange Crypto.com is adding two small altcoins to its platform, both of which offer users the opportunity to earn through active participation.
The first altcoin workout listed on the leading exchange is Step App (FITFI), a Web 3.0 digital fitness protocol that combines socializing, gaming and earning cryptocurrencies.
Crypto.com has announced that FITFI, which stands for Fit Finance, can be purchased using various fiat currencies. The project went live in the fourth quarter of 2021 and received more than 113,000 registrations before the final beta launch. As part of the gaming side of the app, users will be able to purchase digital sneakers in the form of NFTs.
The project's website, Step app., says it's "powered by leading technology in metaverse, augmented reality, and Blockchain" to help users achieve their fitness goals while also being in friendly competition with other participants. Step App debuted at $0.18 last Tuesday. FITFI is now up 29.38 percent on the day and is trading at $0.52.