This is an alert, not a confirmation of anything.
However, it is really sad for me to say so - Sifchain, the once-a-very-promising DEX project on Cosmos world, has been acting like rug pullers since the launch of their margin trading function.
It was supposed to be a new function that can pump the project from its lows, but what happened next really shocked the community.
First, they claim there is some exploitation on the Dex so any swap involving $ROWAN, its native token, must be limited quantitatively per block. I was able to swap a few hundreds of ROWANs, worth about a few dollars, at that time. Or I could also transfer the ROWANs to the other DEX Osmosis (called IBC transfer). The price on Osmosis was 30%-50% lower, but at least you can still process them.
Then the ridiculous part came, I found that my LP was decreasing and people told me that they were selling my LP position into ROWANs for me. WTF, is it still DEX? Unbelievable!
Then they further limit all IBC transfers and no trade could be performed on their DEX. Technical reasons you know.
I still have like 800k tokens with them and some LP but it seems I should be ready for accepting a rug pull. I cannot say how much these are worth since there is no price that is real.
So RIP my sifchain journey.
I am still grateful as none of them were bought. They were airdropped to me when I held $RUNE. So, seriously I shouldn't complain at all.
I am just sad that they treat decentralization like nothing and refuse to communicate with the community.
If you go to their twitter, they act like nothing has happened. Except those angry replies under their every new tweets.
Sif was a giantess, goddess of grain and fertility. I wish the team bon appetite with their new harvest.