Dear Sifchain Community, Recent market maker activities and corresponding communications have caused concern. This memo should provide further clarification and restore trust within the community. Sifcore is working diligently on the Margin MVP and Peggy 2.0. We are also excited about current progress and are looking forward to deployment. Once both projects are deployed, Sifchain will have features that provide unique value across the industry. Sifcore’s treasury funds business expenses like salaries, legal/accounting, and general business overhead. The focus of the treasury is to support the project and ensure we have sufficient assets to provide a runway and survive market cycles. The recent bear market devalued those assets and their income potential. Despite this downturn, Sifcore has not cut significant staff, or scope, and is working hard to deliver a world class product. Moreover, unlike many DeFi projects and even centralized exchanges, Sifchain has maintained its full feature development scope. Sifchain’s market maker indirectly supports Sifcore’s treasury and its recent Rowan trading may have had adverse market effects. In normal market conditions, their behavior has had little to no effect on Rowan but in current market conditions it may have been more outsized. We regret not alerting the community about this sooner and apologize to the community for not sharing this information earlier. They’ve stopped inducing major downside pressure on Rowan and in the future they will be more careful to not obstruct Rowan’s growth as they manage their normal business operations, which in turn funds Sifchain’s continued development. As we move forward, please know that major Sifchain contributors have been working extremely hard and have a positive outlook. We are grateful for your support and hope to move forward with solidarity.