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SILO

Silo Finance  

#SILO

SILO Price:
$0.042
Volume:
$5.5 K
All Time High:
$0.92
Market Cap:
$7.1 M


Circulating Supply:
167,793,304
Exchanges:
1+
Total Supply:
1,000,000,000
Markets:
1+
Max Supply:
1,000,000,000
Pairs:
3



  SILO PRICE


The price of #SILO today is $0.042 USD.

The lowest SILO price for this period was $0, the highest was $0.042, and the current live price for one SILO coin is $0.04236.

The all-time high SILO coin price was $0.92.

Use our custom price calculator to see the hypothetical price of SILO with market cap of SOL or other crypto coins.


  SILO OVERVIEW


The code for Silo Finance crypto currency is #SILO.

Silo Finance is a newer coin by our records, at least 9.4 months in age.


  SILO MARKET CAP


The current market capitalization for Silo Finance is $7,107,997.

Silo Finance is ranked #1163 out of all coins, by market cap (and other factors).


  SILO VOLUME


There is a small volume of trading today on #SILO.

Today's 24-hour trading volume across all exchanges for Silo Finance is $5,468.


  SILO SUPPLY


The circulating supply of SILO is 167,793,304 coins, which is 17% of the maximum coin supply.


  SILO BLOCKCHAIN


SILO is a token on the Ethereum blockchain.


  SILO EXCHANGES


SILO has limited pairings with other cryptocurrencies, but has at least 3 pairings and is listed on at least 1 crypto exchange.

View #SILO trading pairs and crypto exchanges that currently support #SILO purchase.


  SILO RESOURCES


Websitewww.silo.finance
Whitepaperdrive.google.com/file/d/1qmRLiHpqZjdysy52FSiPzzTcL...
TwitterSiloFinance
Telegramsilo_community
Discordsilo-finance
Mediumsilo-protocol


  SILO DEVELOPER NEWS



Silo is live in beta mainnet

The Silo lending application is now available in beta on Ethereum mainnet. You can access it by visiting app.silo.finance. — Silo beta - At launch, the web application has 9 silos that are each capped at 500 ETH in TVL. For example, users in the CRV Silo can deposit up to 250 ETH worth of the base asset CRV, and up to 250 ETH of the bridge asset ETH. We will progressively increase deposit caps in the coming weeks until we eventually remove them. Increasing or removing caps will not require an on-chain vote. Silos can be added to the protocol at any time. However, we encourage the community to wait for 4 weeks before adding new markets. This gives the core team room to continue improving the web application for better user experience while whitehats in the community test the security of the protocol. Once the lending application has been live for 4 weeks, barring unforeseen circumstances, we recommend that the community start adding new markets following a process that we propose later in this post. Accessing the Silo lending application is restricted for users visiting from certain jurisdictions. Find out more here. We also recommend users read the applications’ Terms of Use and Privacy Policy. — Using the lending application - The lending web application is now ready for you to use. Right now 9 base token assets are accepted as collateral, with each asset having its own silo. ETH is accepted as collateral acr...




Summary of Community Call — July 21, 2022

Summary of Community Call — July 21, 2022 - — Progress Updates - We continue to test on mainnet. New contracts and UI iterations deployed to ship fixes. Testing is going as planned., Currently in the process of last stretch to launch beta— testing liquidation shall begin next week (both Silo’s liquidation bot and external liquidator’s), — Other Updates - Final audit report from Quantstamp received 20 July 2022, Awaiting final audit report from ABDK, Both of these audits will be made available when contracts are open-sourced, Certora Formal Verification report shall also be published soon, — Beta Launch Updates - During the first week of beta, we will cap markets to $25,000 per asset per Silo ($25k non-bridge + $25k ETH for $50k total per Silo), This cap will gradually be increased as the product is stress tested, To request a Silo in future weeks: 1- Click ‘Request a Silo, 2- Complete the Google Form. 3- Every week a Snapshot followed by an on-chain vote will be run, 4- Tokens that receive highest votes will have Silo deployed following technical review, Thank you to the Multifarm Team for conducting a risk analysis of Silo — please refer to their full document here. Summary of Community Call — July 21, 2022 was originally published in Silo on Medium, where people are continuing the conversation by highlighting and responding to this story.




Summary of Community Call — July 7, 2022

Summary of Community Call — July 7, 2022 - — Audit Updates - Both audits are completed., Auditors are waiting on us to send a few comments so they can prepare final audit reports., — Beta Updates - Dynamic interest rate model had an edge case where abandoned Silos would have overflow interest → this has since been fixed., Smart contracts are being deployed to main net for internal testing — you can track deployment here. Once contracts are deployed and debugged, we will launch UI on deployed contracts., Goal is to integrate Chainlink oracles ASAP for available assets, Any changes to the protocol are implemented by token holders NOT the team — Silo is completely permissionless. This includes changes such as adding markets, changing oracles, collateral factors, etc., — DAO Updates - Working on establishing legal representation for SiloDAO — once we are fixed on a law firm, it will require a governance vote to confirm., This will allow us to establish legal certainty and open doors to partnering with institutions and operating in new jurisdictions., This will also provide protection from regulators when they go after uncovered protocols, Summary of Community Call — July 7, 2022 was originally published in Silo on Medium, where people are continuing the conversation by highlighting and responding to this story.




Summary of Community Call — May 19, 2022

Summary of Community Call — May 19, 2022 - — Audit Updates - Audit updates from QS and ABDK with no critical vulnerabilities discovered, Code fixes will be re-submitted to auditors by end of next week for review, In the process of code automation with Certora to strengthen security of code, Aim to open source and verify contracts on etherscan and begin inviting code reviewers to review code, We will also be conducting an internal alpha to make sure smart contracts are interacting with UI correctly before opening the alpha to community members, — Beta Launch updates - Our first 10 Silo’s (have been selected and will undergo technical team review, Will be in contact with Balancer team to test the Balancer v2 oracles in creating lending markets, There is no FRAX-ETH Uniswap v3 pool but the FRAX team has said they will migrate from Sushi to Uniswap to allow us to create a FRAX Silo using Uniswap v3 oracles, — General Updates - Working on Silopedia which will cover UI walkthrough, interest rate mechanics, how to minimize risks on Silo and much more, We have been in contact with a few liquidators who will be onboard from day one of beta launch, Once beta is online we will be conducting a series of on-chain votes for price oracles, LTV changes, and deposit caps — please remember to delegate your votes!, If you would like to be an alpha tester message Aiham and you will be added to our ...




Summary of Community Call — May 5, 2022

Summary of Community Call — May 5, 2022 - We have released comprehensive plans regarding beta launch, funding, governance, etc. which can be read here. — Progress Updates - Currently debugging UI, Beta will release with a basic UI that will develop as we get user feedback, By May 15 week should have initial audit reports, Auditors are exploring code more in depth given the recent exploits of other lending platforms, 448K USDC has been paid to Trail of Bits for 2023 audit, — Beta Launch - Will launch with 10 markets reviewed by community, Deposits will be capped initially but be progressively increased as the protocol becomes more battle tested, If there is a price oracle manipulation to a Silo, the Silo team can only pause the exploited Silo and wait for governance to change the oracle to a safe one, It is the responsibility of the user to select Silo’s carefully that are within their risk preference, — Creating markets for beta launch - Will rank tokens based on: Security — how difficult it is to manipulate price of token, Decentralization — how LPs are distributed on DEX, Importance — tokens that do not have preexisting lending markets should be prioritized, Tokens will be voted in via snapshot with up to 10 markets added every 2 weeks, — $SILO governance - Token holders must delegate voting power to self or a trusted community member in order to vote (see he...




Silo beta — What you need to know

Silo beta — What you need to know - With Silo beta coming soon, it is important to throw some light on the following topics: Governing the protocol, Funding the protocol’s development, Expanding governance base, June token unlock event, Adjusting governance parameters, Creating isolated markets (Silos), Security & risks, Community roadmap, — Governing the protocol - The Silo protocol will be governed by the Silo DAO through its token holders. The protocol, including its markets (Silos), is largely permissionless. Two main entities control admin functionality throughout the protocol: The Silo DAO, The core team Multisignature (MS) Wallet, — Silo DAO - The DAO, through its token holders, can: Add/remove bridge assets, Add/deprecate Silos, Adjust risk parameters for Silos, Integrate new price providers, Change price oracle for a Silo, Upgrade the protocol, And many other functionalities that will be detailed prior to launching the protocol. — Team’s multisignature wallet (MS) - The team’s MS consists of 5 members of the core team. The MS wallet helps govern the protocol in its early days and later will hand over all its admin functionality to the DAO. The team MS can perform the following functions: Pause Silo: An emergency function that freezes all functions i.e. deposit/borrow/repay., Change guarded launch configuration i.e. adjust/remove caps imposed on amounts that can be de...




Summary of Silo Weekly — Apr. 21, 22

Summary of Silo Weekly — Apr. 21, 22 - — Hiring Updates - Hiring has been completed (for now)! We now have 13 members: 5 Smart Contract engineers, 3 Front End engineers, 1 Product lead, 2 pHD mathematicians, 1 Growth, 1 Ops, Fully stacked team and ready to ship the next big Defi protocol. — Audit Updates - Quantstamp audit is ongoing targeting early May results, ABDK audit is ongoing targeting mid-May results, We’ve started working with Certora to secure our smart contracts going forward — Certora provides Prover Technology for checking security rules, — General Updates - Once audit is completed other members of the team will be joining Silo weekly for an AMA., Pending audit results, internal beta with UI integration will hopefully begin in May., Currently working on a tool to report on Development Fund spending., — CVX/CRV Incentives - We published a post about farming CVX/CRV last week. When you provide liquidity to SILO/FRAX pool, you have two choices: 1- Stake your LP tokens in Curve’s gauge Depending on our boost, you stand to earn 48%–121% vAPR. 2- Stake your LP tokens in Convex LPs are making 72% and ramping up to 85% Summary of Silo Weekly — Apr. 21, 22 was originally published in Silo on Medium, where people are continuing the conversation by highlighting and responding to this story.




How to farm CVX / CRV in the SILO/FRAX pool?

Liquidity providers in the SILO-FRAX pool receive liquidity mining rewards in CVX/CRV through Convex Finance. To farm the rewards, you need to complete two steps. 1- Add liquidity to SILO/FRAX Curve pool. 2- Stake silofrax-f LP tokens in Convex. — Step 1: Add liquidity to SILO-FRAX Curve pool - A- Go to SILO/FRAX pool B- Add liquidity & deposit You have two options here: I- If you have SILO & FRAX in your wallet, select “Add all coins in a balanced proportion”. Curve will automatically deposit both token assets in the pool. PS: Only deposit. Do NOT stake in the gauge. II- If you only have one token asset in your wallet — either Frax or SILO — then select “Use maximum amount of coins available”. For example, suppose you only have SILO in your wallet. To add liquidity to the pool, select “Use maximum amount of coins available”. Curve will add all your SILO tokens to the pool. You might incur large price impact because you are causing the pool to lose its balance as opposed to adding 50/50 SILO/FRAX.Price impact is 0.14% because you are adding one sided liquidity. PS: Only deposit. Do NOT stake in the gauge. Watch Step 1 in the video below medium.com — Step 2: Stake your LP tokens in Convex - After you have added liquidity in step 1, you now have silofrax-f LP tokens in your wallet. A- Go to Convex Finance and search for SILO-FRAX pool. B- Approve & Deposit silofrax-f LP...




Summary of Silo Weekly — Apr. 7, 22

Summary of Silo Weekly — Apr. 7, 22 - — Hiring Updates - Engineer team is fully stacked now: Smart Contracts engineers: 5, Front-end Engineers: 4, Backend / Devops, Members of the team shall be joining community calls in the future so stay tuned!, — Audit Updates - Internal audit is ongoing, ABDK audit started 29 March 2022. and will have a larger focus on our dynamic interest model. The code is large so we expect to receive first report ~ May 15, Mudit began second code review 9 April 2022, QS audit started 4 April 2022 due to external delays and has 4 engineers assigned (according to the statement of work we have signed), Update on Quantstamp audit (happened over the last a few days): Without coordinating with our team, Quantstamp has decided they can only start the audit on Apr 18, 2022. We are in the process of evaluating our options: stay course with the audit or hire another auditor. More about this will be shared publicly. — Tokenomics Updates - Our goals for tokenomics are: Incentivize TVL and use of the platform, Flexibility in case we need to adjust the model, Decentralization, Exposure to ecosystem partners, Should not be overly dilutional, The current proposals are veSILO and nuSILO however there is still much to be discussed. Please head over to our #tokenomics channel to give feedback and provide suggestions, A preliminary proposal can be found here — this is not inten...




Summary of Silo Weekly — Mar. 24, 22

Summary of Silo Weekly — Mar. 24, 22 - — Development Updates - Bugs reported in the first audit with QS have been fixed, Quantstamp Re-audit begins this Monday (28/3/22), ABDK audit begins this Monday (28/3/22), Now have 4 senior Solidity engineers — fifth starts April 6, Bug bounty program and beta insurance policy is being finalized, UI is done — below is a UI of DAI-ETH Silo:, — DAO Updates - Average ~$17.40 per CVX with ~250,000 purchased and is now vote-locked, SILO:FRAX gauge has been activated on 23rd March courtesy of Afirebrand#3128, Emissions should begin on April 8. We will be voting our full vlCVX power to our SILO:FRAX pool so LP to earn those rewards!, We will publish a detailed guide on how you can earn CVX/CRV rewards, — General Updates - Soon we will be asking community feedback about which tokens to open Silos for — currently limited to Uniswap v3 and Balancer v2, TVL limits for Silos during initial launch — this minimizes losses in the event of an exploit, Tokenomics discussion is ongoing at #tokenomics discord.gg, Summary of Silo Weekly — Mar. 24, 22 was originally published in Silo on Medium, where people are continuing the conversation by highlighting and responding to this story.



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