SILO STIP Program Updates

Silo Finance Bi-Weekly Update #1 [11/17/2023]

Recap of the Previous Two Weeks

Silo lending markets have experienced significant growth in TVB (Total Value Borrowed) and TVL (Total Value Locked) and number of active users. We are very grateful for the support from the Arbitrum ecosystem of developers and users. We are excited to share a detailed dashboard with the Arbitrum Foundation and everyone else curious to learn about the impact of the STIP grant on our isolated lending markets.

You can find our dashboard by visiting Silo Observer, a comprehensive community-built, dashboard rich with metrics, charts, and views. We extend heartfelt gratitude to Silo contributor Jay Welsh for building and maintaining the dashboard.

ARB Received Last Disbursement: 142,858 ARB
ARB Utilized as Incentives in the Last Two Weeks: 95,238 ARB
Contracts incentivized over the last 2 weeks: Arb STIP Update #1 (Or see below)
Contract address label Form completed for all addresses: Yes
ARB left over: 47,620 ARB

Plan for leftover ARB: The rest of the ARB has already been sent to the incentives controller and will be rolled back into deposit incentives. We distribute roughly 11,904.76 ARB tokens daily to users. At that rate, the 1M ARB Incentives will be distributed by January 31, 2023.

Silo Incentives Controller 0xd592F705bDC8C1B439Bd4D665Ed99C4FaAd5A680
Market Silo Address Total ARB amount Distribution weight
wstETH 0xA8897b4552c075e884BDB8e7b704eB10DB29BF0D 40,000.24 28.00%
ARB 0x0696E6808EE11a5750733a3d821F9bB847E584FB 28,571.60 20.00%
rETH 0x170A90981843461295a6CE0e0a631eE440222E29 22,857.28 16.00%
wBTC 0x69eC552BE56E6505703f0C861c40039e5702037A 20,000.12 14.00%
GMX 0xDe998E5EeF06dD09fF467086610B175F179A66A0 7,142.90 5.00%
MAGIC 0x30C4AA967F68705ab5677EBE17B3afFd0c59e71C 4,285.74 3.00%
PENDLE 0xEa9961280b48fe521ece83f6cD8a7E9B2C4ffc2e 3,785.74 2.65%
GRAIL 0xB9D098E61eC165D3c530Dd67CE77B18BE426ea91 3,071.45 2.15%
JOE 0x8922225135acBAC6f49AaCCC638A8fB79119795C 1,142.86 0.80%
JONES 0x82622a6bdD2f1FA757a08837633971D42C17241a 2,428.59 1.70%
SILO 0xae1Eb69e880670Ca47C50C9CE712eC2B48FaC3b6 2,428.59 1.70%
PREMIA 0x5eDa4Bee7Ba556e65BC4FB9eEd5d74E61bc1f2A9 2,428.59 1.70%
PLS 0xa4487d52a5AC147f249D44D5AF8b3C71Eba77478 1,142.86 0.80%
DPX 0x7E38a9d2C99CaEf533E5D692ED8a2Ce4b478E585 1,714.30 1.20%
GNS 0xfc6778a6955e1ceCAc448051de967f9b5Ff4D647 1,142.86 0.80%
Y2K 0xA0CF37273068b461dF43f1cfb58E2B2CEcB56706 714.29 0.50%
142,858.00 100.00%

STATS

Average daily TVL: $73,482,877.74
Average daily transactions: 808.67
Average daily volumes: $27,470,904.85
Number of unique user addresses: 1211
Transaction fees: 14.723439 ETH
Link to Dashboard showing metrics: https://silo.observer/

Here are also some screenshots from the observer of our North Star metrics to please your eyes.

Plan For the Next Two Weeks

Amount of ARB to be distributed: 142,858 ARB
Contracts that will be incentivized: Arb STIP Update #1
Contract address label Form completed for all addresses: Yes

Mechanism for distribution incentives: Silo will continue with incentives as planned - Our incentive mechanism is a single contract that tracks balances for spTokens/sTokens/dTokens on Silo and allows depositors to claim rewards according to their share of the pool, the amount of blocks they spent in it, and the rewards rate for the token at the given block.

Summary of incentives plan: No changes to the current plan are being made.
Summary of changes to the original plan: None

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Silo Finance Bi-Weekly Update #2 [11/29/2023]

Recap of the Previous Two Weeks

Silo lending markets’ continue to show significant growth in TVB (Total Value Borrowed), TVL (Total Value Locked) and number of active users. Silo is focusing its effort on the sustainability of markets. To this end, we have optimized the grant distribution, allocating more rewards to highly performing markets such as the WBTC-ETH-USDC market. In addition, we have extended the duration of the distribution program to February 16th. All the changes mentioned can be found in the spreadsheet below.

Since the last update, Silo has also launched yet another new Arbitrum native market for the RDNT token. The Radiant team has gracefully sponsored the new RDNT market with 50,000 ARB for the duration of the program. We extend a big thank you to the Radiant team. They have been very cooperative and supportive.

We look forward to enabling many more such markets in the coming months and are currently evaluating other such tokens - we encourage teams to reach out!

Check out the new RDNT markets’ metrics here: https://silo.observer/silo/arbitrum-original/RDNT/tvl

You can find our dashboard by visiting Silo Observer, a comprehensive community-built dashboard rich with metrics, charts, and views.

ARB Received Last Disbursement: 142,858 ARB
ARB Utilized as Incentives in the Last Two Weeks: 135,703 ARB
Contracts incentivized over the last 2 weeks: $ARB grant distribution (Community) (Or see below)
Contract address label Form completed for all addresses: Yes
ARB left over: 7,155 ARB

Plan for leftover ARB: The rest of the ARB has already been sent to the incentives controller and will be rolled back into deposit incentives. We now distribute roughly 10,040 ARB tokens daily to users. At that rate, the 1M ARB Incentives will be fully distributed by February 16, 2023.

Market Rewarded sToken Silo address Silo’s allocation weight Changes Silo’s allocation sToken distribution weight within the silo
ARB sUSDC-ARB 0x0696E6808EE11a5750733a3d821F9bB847E584FB 20.00% - 166,666.67 65.00%
ARB sARB 0x0696E6808EE11a5750733a3d821F9bB847E584FB 20.00% - 166,666.67 25.00%
ARB sWETH-ARB 0x0696E6808EE11a5750733a3d821F9bB847E584FB 20.00% - 166,666.67 10.00%
DPX sUSDC-DPX 0x7E38a9d2C99CaEf533E5D692ED8a2Ce4b478E585 1.20% - 10,000.00 60.00%
DPX sDPX 0x7E38a9d2C99CaEf533E5D692ED8a2Ce4b478E585 1.20% - 10,000.00 20.00%
DPX sWETH-DPX 0x7E38a9d2C99CaEf533E5D692ED8a2Ce4b478E585 1.20% - 10,000.00 20.00%
GMX sUSDC-GMX 0xDe998E5EeF06dD09fF467086610B175F179A66A0 3.20% Reduced from 5% 26,666.67 80.00%
GMX sGMX 0xDe998E5EeF06dD09fF467086610B175F179A66A0 3.20% Reduced from 5% 26,666.67 20.00%
GNS sUSDC-GNS 0xfc6778a6955e1ceCAc448051de967f9b5Ff4D647 0.80% - 6,666.67 80.00%
GNS sGNS 0xfc6778a6955e1ceCAc448051de967f9b5Ff4D647 0.80% - 6,666.67 20.00%
GRAIL sUSDC-GRAIL 0xB9D098E61eC165D3c530Dd67CE77B18BE426ea91 2.00% Reduced from 2.15% 16,666.67 70.00%
GRAIL sGRAIL 0xB9D098E61eC165D3c530Dd67CE77B18BE426ea91 2.00% Reduced from 2.15% 16,666.67 30.00%
JOE sUSDC-JOE 0x8922225135acBAC6f49AaCCC638A8fB79119795C 0.40% Reduced from 0.8% 3,333.33 80.00%
JOE sJOE 0x8922225135acBAC6f49AaCCC638A8fB79119795C 0.40% Reduced from 0.8% 3,333.33 20.00%
JONES sUSDC-JONES 0x82622a6bdD2f1FA757a08837633971D42C17241a 1.40% Reduced from 1.7% 11,666.67 80.00%
JONES sJONES 0x82622a6bdD2f1FA757a08837633971D42C17241a 1.40% Reduced from 1.7% 11,666.67 20.00%
MAGIC sUSDC-MAGIC 0x30C4AA967F68705ab5677EBE17B3afFd0c59e71C 1.50% Reduced from 3% 12,500.00 80.00%
MAGIC sMAGIC 0x30C4AA967F68705ab5677EBE17B3afFd0c59e71C 1.50% Reduced from 3% 12,500.00 20.00%
PENDLE sUSDC-PENDLE 0xEa9961280b48fe521ece83f6cD8a7E9B2C4ffc2e 2.60% - 21,666.67 70.00%
PENDLE sPENDLE 0xEa9961280b48fe521ece83f6cD8a7E9B2C4ffc2e 2.60% - 21,666.67 30.00%
PLS sUSDC-PLS 0xa4487d52a5AC147f249D44D5AF8b3C71Eba77478 0.60% Reduced from 0.8% 5,000.00 80.00%
PLS sPLS 0xa4487d52a5AC147f249D44D5AF8b3C71Eba77478 0.60% Reduced from 0.8% 5,000.00 20.00%
PREMIA sUSDC-PREMIA 0x5eDa4Bee7Ba556e65BC4FB9eEd5d74E61bc1f2A9 1.20% Reduced from 1.7% 10,000.00 80.00%
PREMIA sPREMIA 0x5eDa4Bee7Ba556e65BC4FB9eEd5d74E61bc1f2A9 1.20% Reduced from 1.7% 10,000.00 20.00%
rETH sUSDC-rETH 0x170A90981843461295a6CE0e0a631eE440222E29 16.00% - 133,333.33 42.50%
rETH sWETH-rETH 0x170A90981843461295a6CE0e0a631eE440222E29 16.00% - 133,333.33 37.50%
rETH srETH 0x170A90981843461295a6CE0e0a631eE440222E29 16.00% - 133,333.33 20.00%
SILO sUSDC-SILO 0xae1Eb69e880670Ca47C50C9CE712eC2B48FaC3b6 1.70% - 14,166.67 70.00%
SILO spSILO 0xae1Eb69e880670Ca47C50C9CE712eC2B48FaC3b6 1.70% - 14,166.67 30.00%
wBTC sUSDC-WBTC 0x69eC552BE56E6505703f0C861c40039e5702037A 18.00% Increased from 16% 150,000.00 64.02%
wBTC swBTC 0x69eC552BE56E6505703f0C861c40039e5702037A 18.00% Increased from 16% - increased sWBTC allocation 150,000.00 21.34%
wBTC sWETH-WBTC 0x69eC552BE56E6505703f0C861c40039e5702037A 18.00% Added new 150,000.00 14.63%
wstETH sUSDC-wstETH 0xA8897b4552c075e884BDB8e7b704eB10DB29BF0D 29.00% Increased from 28% 241,666.67 44.48%
wstETH sWETH-wstETH 0xA8897b4552c075e884BDB8e7b704eB10DB29BF0D 29.00% Increased from 28% 241,666.67 32.21%
wstETH swstETH 0xA8897b4552c075e884BDB8e7b704eB10DB29BF0D 29.00% Increased from 28% / increased swstETH allocation 241,666.67 23.31%
Y2K sUSDC-Y2K 0xA0CF37273068b461dF43f1cfb58E2B2CEcB56706 0.40% Reduced from 0.5% 3,333.33 80.00%
Y2K sY2K 0xA0CF37273068b461dF43f1cfb58E2B2CEcB56706 0.40% Reduced from 0.5% 3,333.33 20.00%
833,333.33

STATS

Average daily TVL: $94,632,000
Average daily transactions: 844.31
Average daily volumes: $7,438,606
Number of unique user addresses: 1559
Transaction fees: 1.939 ETH
Link to Dashboard showing metrics: https://silo.observer/

Plan For the Next Two Weeks

Amount of ARB to be distributed: 135,703 ARB
Contracts that will be incentivized: Arb STIP Update #2
Contract address label Form completed for all addresses: Yes

Mechanism for distribution incentives: Silo will continue with incentives as planned - Our incentive mechanism is a single contract that tracks balances for spTokens/sTokens/dTokens on Silo and allows depositors to claim rewards according to their share of the pool, the amount of blocks they spent in it, and the rewards rate for the token at the given block.

Summary of changes to the original plan: We’ve extended the end date to reflect projects that started their program late - this makes our new finish date Feb 16th. In addition, we have shuffled ARB incentives out of our least utilized markets and added them to WBTC and wstETH (Two of our top markets).