Omnichain-based decentralized exchange (DEX) SifChain has listed its crypto-asset token ROWAN on centralized exchange AscendEX, the company announced on the 24th.
SifChain is an omnichain based DEX that allows not only market orders like existing exchanges but also limit orders and other trading methods.
The announcement also revealed that SifChain can soon connect to any EVM-based or Cosmos-based chain after launching the Inter Blockchain Communication (IBC) protocol on its platform.
The press release noted:
“SifChain offers Interoperability with a highly efficient mechanism for cross-chain transfers. Additionally, it connects Ethereum to Cosmos to utilize Cosmos as a more efficient layer for higher data throughput, along with faster transaction speed. As a result, margin trading should see an increase in transactions and trading volume on SifChain’s DEX.”
Regarding the benefits of the ROWAN token, the announcement read:
“The ROWAN token serves as a transaction settlement asset for the network. It is used to send transactions and help peg liquidity pool prices to a single base asset. When the DAO launches, it will also provide voting functionality for making decisions on new community proposals, making it a governance token.”