One low-cap, decentralized exchange (DEX) altcoin is surging despite the current lack of momentum in the overall crypto markets.
EROWAN, the Ethereum-based native token of Sifchain (ROWAN), is up more than 47% after rallying from its seven-day low of $0.114 recorded on April 23rd.
The 271st-ranked crypto asset by market cap is trading at $0.168 at time of writing.
Sifchain is an omni-chain DEX built with the Cosmos (ATOM) standard development kit. Last week, the project launched a new tokenomics system called the Protocol Monetary Trade Policy (PMTP).
“Most protocols incentivize liquidity via high APYs [annual percentage yields]. Users will evacuate a protocol when the inflationary APYs drop, making it tough for projects to sustain their liquidity. And keeping APYs high can dump the native token price. We developed PMTP as an answer to this problem.
PMTP aims to increase ROWAN value so that our community wants to hodl and supply liquidity in ROWAN long term. It does this by adjusting the exchange rate of ROWAN on Sifchain, where it’s most liquid, in tiny increments every block.
You don’t need to do anything special to benefit from PMTP. It’s automatically applied when you swap. Over time, those swaps will become more and more favorable as the purchasing power of ROWAN increases.”
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Alberto Andrei Rosu/Andy Chipus
This news is republished from another source. You can check the original article here.