SILO STIP Program Updates

DAO Programs & Initiatives Biweekly Updates (STIP)
1

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.

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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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2

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).

3

Silo Finance Bi-Weekly Update #3 [12/15/2023]

Recap of the Previous Two Weeks

Silo lending markets’ continue to perform exceptionally well, retaining almost all of the TVL (total value locked) and TVB (total value borrowed). According to the OpenBlock report, the Silo protocol has seen the largest growth in deposits, borrows, and daily active users in the lending sector thus far.

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Silo’s external Integrations have continued to perform well. We are extremely pleased and grateful to all our partners and look forward to more in the coming week. We’d like to take a second to highlight all the terrific DeFi integrations coming out recently from our ecosystem partners:

  • Pendle’s sUSDC-ARB yield market.

  • Beefy’s 6 new auto-compounding silo vaults.

  • Yield Yak auto-compounding silo vaults.

  • Overnight continues to be a long-term silo partner with its ever-developing strategies!

Rewards for the last two weeks have remained mostly unchanged; however, recently, a vote on Arbitrum governance passed, allowing the extension of the STIP deadline for all protocols til’ the end of March.

https://snapshot.org/#/arbitrumfoundation.eth/proposal/0x1a0a7bee0c5b13a690275031c44d8b5efe78b86d86f6d2357299020e7a907d57

Silo has opted to extend the current emission schedule by keeping weight relatively the same while extending the end date. This was done largely to maintain the competitiveness of the protocol and not run out of incentives before others. Some small adjustments were also made to reduce incentives in underutilized markets and to support upcoming integrations better. All changes can be examined in the link below. We’ve also included RDNT in a separate sheet to better report on their allocation (You can also see the market on our Openblocks dashboard!).

$ARB grant distribution ( Fifth iteration, extended until March 29th)

ARB Received Last Disbursement: 142,858 ARB
ARB Utilized as Incentives in the Last Two Weeks: 108,714 ARB
Contracts incentivized over the last 2 weeks: [Arb STIP Update #2]($ARB grant distribution (Community))
ARB left over: 41,646 ARB~
Plan for leftover ARB: All left-over ARB has been sent pre-emptively to the incentive controller, and any unused ARB will be rolled into future rewards to ensure the entire amount is distributed by March 29th.

STATS

Average daily TVL: $88,974,059
Average daily transactions: 738
Average daily volumes: $4,048,931
Number of unique user addresses: 1559
Transaction fees: 1.624 ETH

Link to Dashboard showing metrics:

Plan For the Next Two Weeks

Amount of ARB to be distributed: 82,428 ARB
Contracts that will be incentivized: Arb STIP Update #3

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 March 29. At this pace, we will be rewarding 5,887 ARB every day. In addition, we have shuffled ARB incentives out of our least utilized markets and added them where liquidity is desperately needed. We’ve also ended Y2K emissions as the liquidity has not increased, and the market has become increasingly unsafe.

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4

Silo Finance Bi-Weekly Update #4 [12/29/2023]

Recap of the Previous Two Weeks

The last two weeks have seen a slight decrease in TVL and TVB, partially due to the extension of the end date that diluted the average deposit APRs. However, the decrease in deposits has led to an increase in utilization across all markets that has consequently increased the protocol revenue in dollar value.

Rewards for the last two weeks remained unchanged and will continue to follow the plan mentioned in our previous update. Rewards will continue to flow at this rate until March 29th, 2024.

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ARB Received Last Disbursement: 142,858 ARB
ARB Utilized as Incentives in the Last Two Weeks: 82,428 ARB
Contracts incentivized over the last 2 weeks: $ARB grant distribution ( Fifth iteration, extended until March 29th)
ARB left over: 60,430 ARB
Plan for leftover ARB: All leftover ARB has been sent to the incentive controller and rolled into future rewards to ensure the entire amount is distributed by March 29th.

STATS

Average daily TVL: $59,538,371
Average daily TVL + Borrowed: $85,882,608
Average daily transactions: 642
Average daily volumes: $3,055,383
Number of unique average user addresses: 1729
Transaction fees: 1.372 ETH
Link to Dashboard showing metrics:

Plan For the Next Two Weeks

Amount of ARB to be distributed: 82,428 ARB
Contracts that will be incentivized: $ARB grant distribution ( Fifth iteration, extended until March 29th)

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: No changes made.

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5

Silo Finance Bi-Weekly Update #5 [01/12/2024]

Recap of the Previous Two Weeks

Our North Star metric, Total Value Borrowed, has been steadily increasing and is closing in on all time highs of $91M. We have seen sustainability greatly improved with deposit and borrow APR spreads getting smaller and smaller. On another note, we have recently begun the process of enabling oracles to list new markets on Arbitrum.

This week we also had the pleasure of integrating our SILO/ETH Camelot pool with Stella’s Leveraged LP/Lending protocol. They have graciously extended some ARB STIP rewards to our pool for which we are very thankful, we look forward to what the integration will bring.

ARB Received Last Disbursement: 142,858 ARB
ARB Utilized as Incentives in the Last Two Weeks: 82,428 ARB
Contracts incentivized over the last 2 weeks: $ARB grant distribution ( Fifth iteration, extended until March 29th)
ARB left over: 0 ARB

Plan for leftover ARB: Leftover ARB has been sent to the incentive controller and rolled into future rewards to ensure the entire amount is distributed by March 29th.

STATS

Average daily TVL: $62,924,488
Average daily TVL + Borrowed: $89,639,110
Average TVB (Total Value Borrowed): $26,714,622
Average daily transactions: 555
Average daily volumes: $4,561,719
Number of unique average user addresses (DAUs): 261

Link to Dashboard showing metrics:

Plan For the Next Two Weeks

Amount of ARB to be distributed: 82,428 ARB
Contracts that will be incentivized: $ARB grant distribution ( Fifth iteration, extended until March 29th)

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: No changes made.

1 Like
6

Silo Finance Bi-Weekly Update #6 [01/26/2024]

Recap of the Previous Two Weeks

Silo’s most impactful of TVL, Total Value Borrowed, and DAUs has remained relatively steady growing ever so slightly over the last two weeks. We have seen sustainability once again greatly improved with deposit and borrow APR spreads getting smaller due to price fluctuations on the ARB token.

Las week we mentioned the intent to launch some new markets and I am pleased to say we’ve added two new ones since then

  • WOO-ETH-USDC market, counting on 20K ARB incentives provided by the Woo team.
  • WINR-ETH-USDC market, counting on 7K ARB incentives provided by the Winr team.

This week we also had the pleasure of integrating with Contango - a tremendously useful platform allowing for users to simulate the experience of trading on a Perps platform using a combination of flashloans, DEX aggregators, and Silo markets. Users can also use this integration to set stop losses in orders therefore saving themselves from liquidation.

ARB Received Last Disbursement: 142,858 ARB
ARB Utilized as Incentives in the Last Two Weeks: 82,428 ARB
Contracts incentivized over the last 2 weeks: $ARB grant distribution ( Fifth iteration, extended until March 29th)
ARB left over: 0 ARB
Plan for leftover ARB: Leftover ARB has been sent to the incentive controller and rolled into future rewards to ensure the entire amount is distributed by March 29th.

STATS

Average daily TVL: $61,362,960
Average daily TVL + Borrowed: $91,065,590
Average TVB (Total Value Borrowed): $29,702,630
Average daily transactions: 484
Average daily volumes: $3,807,003
Number of unique average user addresses (DAUs): 205

Link to Dashboard showing metrics:

Plan For the Next Two Weeks

Amount of ARB to be distributed: 82,428 ARB

Contracts that will be incentivized: $ARB grant distribution ( Fifth iteration, extended until March 29th)

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: No changes made.

1 Like
7

Silo Finance Bi-Weekly Update #7 [02/09/2024]

Recap of the Previous Two Weeks

Silo has reached new highs in all North Star metrics this week with significant increases in TVL, Total Value Borrowed, and Utilization. This has been greatly in part due to our aggressive listings in the last two weeks. We want to extend a huge thank you to all the teams helping to bootstrap their silos.

This update we welcome three new markets/silos - most of which had previously never had access to lending. We look forward to bringing you some LRTs soon aswell!

New Silos

  • stEUR
  • LUSD
  • WINR

In addition to this we would like to highlight new integrations since we last mentioned them. We’ve had the pleasure to be integrated in one way or another by: Rivo Finance, Mean Finance, Contango, Beefy (New Vaults).

ARB Received Last Disbursement: 0 ARB (Claiming Over)
ARB Utilized as Incentives in the Last Two Weeks: 82,428 ARB
Contracts incentivized over the last 2 weeks: $ARB grant distribution ( Fifth iteration, extended until March 29th)
ARB left over: 0 ARB

Plan for leftover ARB: All leftover ARB has been sent to the incentive controller and rolled into future rewards to ensure the entire amount is distributed by March 29th.

STATS

Average daily TVL: $66,124,105
Average daily TVL + Borrowed: $98,771,540
Average TVB (Total Value Borrowed): $32,647,435
Average daily transactions: 539
Average daily volumes: $4,411,031
Number of unique average user addresses (DAUs): 201

Link to Dashboard showing metrics:

Plan For the Next Two Weeks

Amount of ARB to be distributed: 82,428 ARB

Contracts that will be incentivized: $ARB grant distribution ( Fifth iteration, extended until March 29th)

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: No changes made.

8

Silo Finance Bi-Weekly Update #8 [02/24/2024]

Recap of the Previous Two Weeks

Silo has so far held the new TVL, Total Value Borrowed, and Utilization it gained in the previous update - decreasing only ever so slightly. We look forward to bringing you some LRT markets in the coming week - we think this is a vertical that could be huge for arbitrum and is already proving itself to be this way.

We’ve also had a phenomenal integration again this week with Pendle in the sETH pool. This long term PT/YT pool will ensure plenty of liquidity is available for ALMs to execute high leverage borrowing strategies beyond the STIP.

We also look forward to implementing markets for these PT tokens in the very near future - so keep an eye out for that ^^. We might make some rebalancing with the new LRT and PT market launches, updates as always will be broadcast here.

A huge thank you to the CIAN team also for including us in their LTIP Pilot proposal - they are a phenomenal team and we hope to work together to elevate complex strategies on arbitrum with their help.

ARB Received Last Disbursement: 0 ARB (Claiming Over)
ARB Utilized as Incentives in the Last Two Weeks: 82,428 ARB
Contracts incentivized over the last 2 weeks: $ARB grant distribution ( Fifth iteration, extended until March 29th)
ARB left over: 0 ARB
Plan for leftover ARB: All leftover ARB has been sent to the incentive controller and rolled into future rewards to ensure the entire amount is distributed by March 29th.

STATS

Average daily TVL: $69,438,040
Average daily TVL + Borrowed: $106,470,187
Average TVB (Total Value Borrowed): $37,032,147
Average daily transactions: 713
Average daily volumes: $7,333,222
Number of unique average user addresses (DAUs): 362

Link to Dashboard showing metrics:

Plan For the Next Two Weeks

Amount of ARB to be distributed: 82,428 ARB

Contracts that will be incentivized: $ARB grant distribution ( Fifth iteration, extended until March 29th)

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: No changes made.

9

Silo Finance Bi-Weekly Update #9 [03/12/2024]

Recap of the Previous Two Weeks

Apologies for the Slight delay - our whole team caught Covid in ETHDenver, only just now recovering.

Silo is coming in strong this week breaking all previous records - this is to do with our newest market launch PT-weETH. Silo TVL and TVB has seen an almost 50% increase with utilization and rates also on the rise - this will likely mark Silo’s most profitable month.

PT-weETH is a fixed yield derivative built by the Pendle team, this new integration marks a first of many with more coming soon. This market is remarkable because although counting on a large number of Incentives, the sheer demand have grown it way beyond what a simple farm market would with Native yield making up 90% of what users earn.

Below is a graph showing the growth in this market, which has now become by far our largest and most efficient.

Screenshot 2024-03-12 121256
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In addition to this we continue to integrate with new vaults from Beefy, FactorDAO, and a little something special more for those that are yearning for a bit of yield. (Coming SOON)

We have also started to plan out a new dual incentives program with the help of the Angle team to sustain a lot of the growth Post-STIP however we are greatly encouraged by the sustainability of incentives in our new PT market.

ARB Received Last Disbursement: 0 ARB (Claiming Over)
ARB Utilized as Incentives in the Last Two Weeks: 82,428 ARB
Contracts incentivized over the last 2 weeks: $ARB grant distribution ( Fifth iteration, extended until March 29th)
ARB left over: 0 ARB
Plan for leftover ARB: All leftover ARB has been sent to the incentive controller and rolled into future rewards to ensure the entire amount is distributed by March 29th.

STATS

Average daily TVL: $93,035,177
Average daily TVL + Borrowed: $134,875,367
Average TVB (Total Value Borrowed): $41,840,190
Average daily transactions: 837
Average daily volumes: $15,051,335
Number of unique average user addresses (DAUs): 265

Link to Dashboard showing metrics:

Plan For the Next Two Weeks

Amount of ARB to be distributed: 82,428 ARB

Contracts that will be incentivized: $ARB grant distribution ( Fifth iteration, extended until March 29th)

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: No changes made.

10

Silo Finance Bi-Weekly Update #10 [03/23/2024]

Recap of the Previous Two Weeks

This being the last STIP update we want to extend our heartfelt gratitude to the Arbitrum community for the tremendous support. It is clear through observing user actions in and out of our markets arbitrum users are active and sophisticated DeFi users. We are seeing a huge variety of strategies take place including but not limited to interest rate arbitrage, delta/gamma neutral strategies, looping of complex derrivative, and automated trading.

Along this update’s graphics you will also see attached dashboards that show granular details on markets allowing for further analysis of a wide variety of metrics.

The last 5 months have seen massive growth for Silo in all of it’s north star guiding metrics; TVL, TVB (Total Value Borrowed), and DAUs. We’ve also found some incredible niches that are already proving to be extremely sustainable. Our now largest market PT-weETH’s native yield on ETH is about 13 times higher than that of it’s incentives, growing to almost $40M TVL in only a few weeks. We’ve got a wide set of PT derrivative markets soon to follow (including PT-ezETH launched earlier this week) and we’re excited to keep developing and scaling the LRT ecosystem on Arbitrum!

PT-weETH Market Stats

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PT-weETH Market Metrics

In our STIP proposal we extended out to native arbitrum projects that, where possible we would create markets for them. When the STIP had begun Silo had 16 markets live, alot of them already arbitrum native. Since then Silo has deployed 12 new markets a lot of them which previously never had any sort of lending, all of them arbitrum native.

This was of course due to our isolated nature but also had a great deal to do with us working to enable oracles where there had previously been none. We worked alongside DIA and RedStone to have these feeds created and used in our markets, sponsoring gas for longtail asset feeds (And some teams also did help with the gas cost which we highly appreciate!). We look forward to working to continue creating lending markets for ALL assets on the network.

TVL Asset Composition

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Throughout the STIP the SiloDAO was able to generate significant revenue on Arbitrum to the tune of $300,000 as of the writing of this update. Silo is as invested into the arbitrum chain as it is to us, and to that extend we will be using all of it and then some for a follow up SILO rewards program. The SiloDAO will be extending $640,000 in SILO to its markets and a wide array of integrators.

SiloDAO Revenue: https://dune.com/silo_finance/revenue
Silo Post-STIP Arbitrum Growth Plan: Growth Plan: April - June 2024 - Silo Governance

This will all be in preparation for Silo’s next ambitious new version which extends the isolated market thesis beyond what any defi project has done before. Our new version includes a wide array of new features including; Hooks (Same concept as Univ4 for Lending Markets), Permissionless deployment fo markets, a new dual oracle system, deployer revenue (allowing projects to earn from their own markets), a new vault layer, and a CCIP enabled veModel. It is really a huge upgrade to the current landscape and we invite everyone to read what we’ve been working on here below.

SiloV2: Silo Finance 2024 Roadmap. This year we aim to grow Silo Finance… | by Silo | Silo | Feb, 2024 | Medium

We hope to have your continued support, thanks alot!

ARB Received Last Disbursement: 0 ARB (Claiming Over)
ARB Utilized as Incentives in the Last Two Weeks: 82,428 ARB
Contracts incentivized over the last 2 weeks: $ARB grant distribution ( Fifth iteration, extended until March 29th)
ARB left over: 0 ARB
Plan for leftover ARB: All leftover ARB has been sent to the incentive controller and rolled into future rewards to ensure the entire amount is distributed by March 29th.

STATS

ALL Metrics are at all time high this update!

Average daily TVL: $83,550,096
Average daily TVL + Borrowed: $125,571,335
Average TVB (Total Value Borrowed): $42,021,239
Average daily transactions: 1,269
Average daily volumes: $20,585,097
Number of unique average user addresses (DAUs): 367

Link to Dashboard showing metrics:

Plan For the Next Two Weeks

Amount of ARB to be distributed: 82,428 ARB

Contracts that will be incentivized: $ARB grant distribution ( Fifth iteration, extended until March 29th)

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: No changes made.