We are happy to announce the deployment of our fully decentralized lending protocol on Ethereum.

We’ve built Silo from the ground up to enable permissionless money markets that share efficiency yet isolate risk by design.

Today we begin a journey of a thousand Silos.

1/ Core contracts & interest rate model are published under BUSL-1.1

Core contracts: silopedia.silo.finance/security/smart…

GitHub: github.com/silo-finance/s…

Dev docs: devdocs.silo.finance

Interest rate model: tinyurl.com/yc3zc4sh
2/ There are 10 active votes on Tally to deploy 10 Silos.

When votes are executed, we’ll run a deployment check and then make the lending application public.

Voting lasts for 8 days with 2 more before execution.

Vote now: tinyurl.com/yktu2973 Image
3/ The deployed contracts are formally verified using @CertoraInc.

Find the formal verification report here:
4/ Silo v1.1.1 is audited by ABDK & @Quantstamp.

The deployed version differs from the audited one.
Read about the audit: tinyurl.com/2p9h6d7h

ABDK: tinyurl.com/2zunsu84
Quantstamp: tinyurl.com/ycks8848
5/ We've put together a complete knowledge base for everything Silo, including:
- How to use the lending app
- Understand dynamic interest model
- Understand lending risk
- SiloDAO & governance


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More from @SiloFinance

Mar 7
* last Friday we decided to get bags of $CVX
* Paid $4.41M for ~250K $CVX
* We used the dev fund
* Posted $SILO <> $FRAX gauge proposal on @CurveFinance gov forum

@CurveFinance & @ConvexFinance OGs:
Please show support: tinyurl.com/3p4e3vkz

Read thread 👇
1/7 Why @ConvexFinance?
Last week we presented the community with options to build deep liquidity for $SILO.
One of the options was starting a pool on Curve v2 and using $CRV emissions to attract liquidity instead of incentivizing with $SILO.
2/7 How did we get $CVX? (1)
On Friday $CVX price declined, offering a good entry. Knowing that buying with treasury would take 10 days, we decided to buy with dev fund and ask the DAO to reimburse it.
@Crypto_condom prepared a proposal that @aiham_eth posted on our gov forum
Read 8 tweets
Jan 24
We never stop building 🏭

Silo is launching a stablecoin to serve as a bridge asset in every Silo alongside ETH.

We propose SiloDollar be made up of a basket of stablecoins — $Frax, $DAI, $LUSD, $UST, $MIM, $RAI etc.

Medium: tinyurl.com/37znw4se

1/9 How does the stablecoin work?
Approved stablecoins are deposited into a pool - @CurveFinance gauge or @BalancerLabs Metastable pool.

Depositors receive LP claim token to mint SiloDollars.

Holders may redeem it for $1/LP token minus 0.85% redemption fee.
2/9 How are the backing stablecoins chosen?
Bi-weekly auction determines which stablecoins back SiloDollar for 14 days. Proceeds from auction accrue to SiloDAO.

In 1st auction, we suggest that there be 3 available backing slots, each representing ⅓ of the total backing.
Read 10 tweets
Dec 6, 2021
🚀 $SILO Token Auction is LIVE on Gnosis Auction - Ethereum

Today we begin decentralizing Silo & raising Protocol Owned Liquidity (POL) for Silo DAO.

Access auction👇. Take note of auction ID & Chain ID in the URL.


How to participate:
1/6 Here is everything you need to participate in the auction


Email us with any questions at support@silo.finance

OR continue to a quick walkthrough 👇
Visit auction page via our official channels and verify you are in the right auction.

Check the auction ID on the auction page.

Bookmark Auction URL for your security.
Read 7 tweets

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