Hey everyone, This is my first major address to the group in a while. If you're still with us, it's clear that you are a dedicated community member, and I'm grateful for that. Remarkably, we have a vast number of followers. On-chain records show that even in early Dec there were over 50,000 unique delegators and over 9,000 unique poolers in the liquidity pools, absolutely tremendous given Sifchain’s state and this doesn’t even speak to usage of Rowan outside of Sifchain. This level of engagement is impressive and exceeds many expectations. It indicates that the success of Sifchain could positively impact many lives, an outcome we should all try to eagerly achieve. Over the past few months, Sifcore has invested considerable effort into this project and is enthusiastic about the upcoming developments. We believe it’s important that expectations be set low regarding the future of Sifchain and Rowan given Rowan’s large circulating supply and current very low price. At the same time, so much product has been developed for Sifchain, and its existing community, validator set, and development ecosystem are so strong that it’s quite possible a major rebound can occur. Please consider this message (and a corresponding on-chain proposal) to reflect the official dissolution of the SifDAO-Sifcore council but we appreciate the coordination we’ve had in the past few months to maintain Sifchain and look forward to even more collaboration to come. SifDex has achieved significant milestones, successfully completing data ingestion and advancing into the final stages of data validation. We also have new initiatives underway to substantially enhance our data handling capabilities and ensure operational consistency. Regarding IBC relayers, with Informal Systems managing relayers between Sifchain and Juno, Osmosis, and Cosmos Hub. Stats show throughput for Sifchain’s IBC connections are now even more reliable than those on Osmosis. Some users have had transactions stuck in those pathways. Our engineering team and community validators recently set up archive nodes that Informal has used to get those stuck transactions unstuck. Once existing pools get deeper we’ll also have relayers to other Cosmos chains to provide a wider selection of assets. At present, the most liquid Rowan pool is the Rowan:OSMO pool on Osmosis but a significant rebound for Sifchain would lead to Sifchain quickly getting the deepest Rowan liquidity. The Rowan:USDC, and other major Rowan pools on Sifchain, have gotten a strong set of promotional yield to ring in the return of SifDEX. They’ll also continuously receive yield from the GTK margin trading platform over the long-term. GTK has already shown strong promise during beta testing, getting > $1M worth of capital borrowed with about $15k worth of collateral. We’ve been working on platform upgrades to allow a cut of its interest to go to Sifchain poolers so they can perennially be topped up with yield. Our focus then shifts to increasing awareness and utilization of the platform. We expect this will include a trading competition for GTK, quantitative projections on how GTK trading volume corresponds to yield for poolers, and more. For now, keep in mind that a primary reason for GTK's anticipated popularity as a margin trading platform lies in its concentrated liquidity and lending.

- Sif Task Force AI agents can run off-chain using AI agent frameworks common in the AI industry (MVP versions are built with Langchain). We believe using traditional AI frameworks will allow us to keep Sif Task Force’s capabilities in line with the broader Web 2 standards. - Sif Task Force AI agents are designed to allow humans and AIs to work collaboratively on tasks as opposed to using AI agents along for full autonomous behavior. We’ve taken this route because, although everyone fantasizes about fully offloading their work to AI agents, only a system that has humans and AIs working together collaboratively will allow humans to share much needed context to AIs to make their work relevant. As of now, most AI agent software is in the research stage because deploying it to production requires meaningful amounts of context to produce useful work. Inspirations for the architecture include HAAS and Agentverse. We’ve connected with engineers, community members, and investors from groups like these and other similar platforms and have received positive commendation, with some offering help on Sif Task Force. The current engineering team on Sif Task Force has a strong background in AI and LLM development; while our core dev team is very capable of contributing to the field, we opted to lay the groundwork with engineers who specialized in AI and LLMs first. The UX of the platform allows engineers to assign Kanban board cards like Github issues or Jira tickets to AI agent swarms which break the task down into constituent pieces with the help of human customers and gig workers and then execute. We expect arbitrary engineering tasks to be manageable in this way, from application code to devops to documentation to architecting and more. We also expect to eventually scale into non-engineering tasks and to allow these AI agents to subcontract work to humans or to manipulate browser applications a la GitHub - OthersideAI/self-operating-computer: A framework to enable multimodal models to operate a computer. Our goal is to create a task economy for agents in which engineering tasks from Sifchain can be resolved at 10x efficiency and other engineering projects can use Sif Task Force agents as well for their own tasks. The entire task economy could be denominated in Rowan, meaningfully inducing demand for the token. We even imagine future versions of the agents to also be able to use DeFi platforms like SifDEX and GTK as well as non-Sifchain DeFi platforms so as to earn money for users through task completion and crypto-financial operations. Notably, the strong positive feedback we’ve received from potential investors and users warrants executing on this project with strong economic resources. While we would like to provide Rowan holders with the economic utility generated by this platform, we also need to ensure the team is well-funded and this could mean seeking additional capital in a new structure. We currently believe the growth potential for Rowan with updates to SifDEX and GTK are so strong that a new structure may not be necessary, and we will keep you abreast of any developments in this area. We’d also like to see agents created using our AI tech to execute certain DeFi operations on users’ behalf. We’d start with this for SifDEX and GTK but could actually expand to allow the agents to interact with other DeFi applications based on our testing. Finally, we’ve been experimenting with deploying the agents in a 2D or 3D space (a “metaverse”) in which basic activity requires on-chain Sifchain transactions and economic activity could bring further revenue to Rowan users. These efforts are in early stages but we believe will be quite promising. Regarding our team's focus, we have been deeply invested in AI. My personal interests have always leaned towards AI, long before the LLM craze and the inception of Sifchain. This enthusiasm is shared by our investors and AI engineers, who have provided us with highly positive feedback. We are well-equipped to deliver a robust AI-crypto project.

- Sif Task Force AI agents can run off-chain using AI agent frameworks common in the AI industry (MVP versions are built with Langchain). We believe using traditional AI frameworks will allow us to keep Sif Task Force’s capabilities in line with the broader Web 2 standards. - Sif Task Force AI agents are designed to allow humans and AIs to work collaboratively on tasks as opposed to using AI agents along for full autonomous behavior. We’ve taken this route because, although everyone fantasizes about fully offloading their work to AI agents, only a system that has humans and AIs working together collaboratively will allow humans to share much needed context to AIs to make their work relevant. As of now, most AI agent software is in the research stage because deploying it to production requires meaningful amounts of context to produce useful work. Inspirations for the architecture include HAAS and Agentverse. We’ve connected with engineers, community members, and investors from groups like these and other similar platforms and have received positive commendation, with some offering help on Sif Task Force. The current engineering team on Sif Task Force has a strong background in AI and LLM development; while our core dev team is very capable of contributing to the field, we opted to lay the groundwork with engineers who specialized in AI and LLMs first. The UX of the platform allows engineers to assign Kanban board cards like Github issues or Jira tickets to AI agent swarms which break the task down into constituent pieces with the help of human customers and gig workers and then execute. We expect arbitrary engineering tasks to be manageable in this way, from application code to devops to documentation to architecting and more. We also expect to eventually scale into non-engineering tasks and to allow these AI agents to subcontract work to humans or to manipulate browser applications a la GitHub - OthersideAI/self-operating-computer: A framework to enable multimodal models to operate a computer. Our goal is to create a task economy for agents in which engineering tasks from Sifchain can be resolved at 10x efficiency and other engineering projects can use Sif Task Force agents as well for their own tasks. The entire task economy could be denominated in Rowan, meaningfully inducing demand for the token. We even imagine future versions of the agents to also be able to use DeFi platforms like SifDEX and GTK as well as non-Sifchain DeFi platforms so as to earn money for users through task completion and crypto-financial operations. Notably, the strong positive feedback we’ve received from potential investors and users warrants executing on this project with strong economic resources. While we would like to provide Rowan holders with the economic utility generated by this platform, we also need to ensure the team is well-funded and this could mean seeking additional capital in a new structure. We currently believe the growth potential for Rowan with updates to SifDEX and GTK are so strong that a new structure may not be necessary, and we will keep you abreast of any developments in this area. We’d also like to see agents created using our AI tech to execute certain DeFi operations on users’ behalf. We’d start with this for SifDEX and GTK but could actually expand to allow the agents to interact with other DeFi applications based on our testing. Finally, we’ve been experimenting with deploying the agents in a 2D or 3D space (a “metaverse”) in which basic activity requires on-chain Sifchain transactions and economic activity could bring further revenue to Rowan users. These efforts are in early stages but we believe will be quite promising. Regarding our team's focus, we have been deeply invested in AI. My personal interests have always leaned towards AI, long before the LLM craze and the inception of Sifchain. This enthusiasm is shared by our investors and AI engineers, who have provided us with highly positive feedback. We are well-equipped to deliver a robust AI-crypto project.

The GTK margin trading platform is poised for substantial financial growth. Assuming a 10% interest charged by the platform, a 30% interest given to Rowan:USDC Pool and a 231% equilibrium yield for rowan pool, our preliminary projections indicate that the GTK platform can expect to generate daily interest in USDC from approximately $54.79 to $5,479.45 with a total collateral ranging from $10,000 to $1,000,000 respectively. This interest will significantly benefit Rowan:USDC poolers, who are projected to receive daily earnings between $16.44 and $1,643.83 respectively. You can view the assumptions and details of our pool depth predictions and APR predictions, which underline the platform's potential for high-yield returns and projected effectiveness of our focused investment strategy, here in this spreadsheet. Please keep in mind that these are potential projections not guaranteed to be reflected in reality. They serve as a calculator of how market forces may operate. GTK’s strategic approach of concentrated liquidity and lending allows a relatively small capital outlay to support a significantly larger volume of trades. See a brief summary here

x.com

and you can find more details in the GTK documentation

gtk-1.gitbook.io

We are also updating GTK API documentation, so that our upcoming trading competition for GTK can be fruitful. Looking ahead, we plan to focus on enabling GTK matchers to automatically hedge their positions on dYdX. Now that the new dYdX appchain is live and offering $20M worth of rewards to traders, we believe GTK and Sifchain benefit even more from offering position hedging on dYdX. LPD and Ratio Shifting are currently set to 0% but increasing them would certainly help Rowan’s growth in the near term. While these features should represent only a small part of Sifchain’s value prop, they will certainly help establish Rowan as a major Cosmos token. With the help of DLP, we’ve seen Sifchain TVL protected across volatile economic conditions. DLP has been modified so that the dynamic swap fee enables a stable max arbitrage opportunity (currently about 4%) for selling Rowan on Sifchain by looking up the price of Rowan on Sifchain and Osmosis. In the past, some of these policies have led to confusion but given the very low cryptoeconomic metrics for Sifchain now and these new updates, they should lead to positive outcomes. We also expect to update LPD with a “storehouse and wheat” that will lead to the slow, timely release of other Rowan removed from pools and a deflationary burning mechanism for Rowan. By substantially decreasing inflationary block rewards, reducing or eliminating inflationary liquidity mining rewards in favor of external, non-Rowan yield from platform revenue, we can make Rowan a net deflationary token. We intend to restore Peggy to full functionality after it was compromised, or deploy Peggy 2. More details to come, but restoring Peggy or deploying Peggy 2 will not happen for several weeks, possibly a few months. For now, while you can’t use the Peggy bridge, you can use IBC bridges. We have deployed an IBC bridge between Sifchain and Axelar which is not yet connected in the UI but may be a priority over the next several weeks depending on user feedback. We’d like to share more about our AI platform, Sif Task Force, and how it may support Rowan and the Sifchain ecosystem. Sif Task Force is a multi-agent AI system capable of executing arbitrary tasks. You can consider it similar to on-chain layer 1 AI agent crypto platforms like Fetch and Autonolas with a few key differences:

Hey everyone, This is my first major address to the group in a while. If you're still with us, it's clear that you are a dedicated community member, and I'm grateful for that. Remarkably, we have a vast number of followers. On-chain records show that even in early Dec there were over 50,000 unique delegators and over 9,000 unique poolers in the liquidity pools, absolutely tremendous given Sifchain’s state and this doesn’t even speak to usage of Rowan outside of Sifchain. This level of engagement is impressive and exceeds many expectations. It indicates that the success of Sifchain could positively impact many lives, an outcome we should all try to eagerly achieve. Over the past few months, Sifcore has invested considerable effort into this project and is enthusiastic about the upcoming developments. We believe it’s important that expectations be set low regarding the future of Sifchain and Rowan given Rowan’s large circulating supply and current very low price. At the same time, so much product has been developed for Sifchain, and its existing community, validator set, and development ecosystem are so strong that it’s quite possible a major rebound can occur. Please consider this message (and a corresponding on-chain proposal) to reflect the official dissolution of the SifDAO-Sifcore council but we appreciate the coordination we’ve had in the past few months to maintain Sifchain and look forward to even more collaboration to come. SifDex has achieved significant milestones, successfully completing data ingestion and advancing into the final stages of data validation. We also have new initiatives underway to substantially enhance our data handling capabilities and ensure operational consistency. Regarding IBC relayers, with Informal Systems managing relayers between Sifchain and Juno, Osmosis, and Cosmos Hub. Stats show throughput for Sifchain’s IBC connections are now even more reliable than those on Osmosis. Some users have had transactions stuck in those pathways. Our engineering team and community validators recently set up archive nodes that Informal has used to get those stuck transactions unstuck. Once existing pools get deeper we’ll also have relayers to other Cosmos chains to provide a wider selection of assets. At present, the most liquid Rowan pool is the Rowan:OSMO pool on Osmosis but a significant rebound for Sifchain would lead to Sifchain quickly getting the deepest Rowan liquidity. The Rowan:USDC, and other major Rowan pools on Sifchain, have gotten a strong set of promotional yield to ring in the return of SifDEX. They’ll also continuously receive yield from the GTK margin trading platform over the long-term. GTK has already shown strong promise during beta testing, getting > $1M worth of capital borrowed with about $15k worth of collateral. We’ve been working on platform upgrades to allow a cut of its interest to go to Sifchain poolers so they can perennially be topped up with yield. Our focus then shifts to increasing awareness and utilization of the platform. We expect this will include a trading competition for GTK, quantitative projections on how GTK trading volume corresponds to yield for poolers, and more. For now, keep in mind that a primary reason for GTK's anticipated popularity as a margin trading platform lies in its concentrated liquidity and lending.