Please vote on SIP-41: Setup rewards notifications for Silos on Mainnet.

23 Feb 2023, 14:21

Please vote on SIP-41: Setup rewards notifications for Silos on Mainnet 🗳️ This is the first step we take to release $SILO rewards program. The "notification receiver" is a technical setup that will allow the protocol to configure and manage rewards for certain silos, and certain actions depositing / borrowing. The notification receiver is controlled by the DAO only, meaning only the DAO can list/delist silos from participating in the rewards program. The proposal whitelists 5 silos to participate in the rewards program for now. This does NOT mean we will turn on rewards for those silos now - we are only whitelisting them. Whitelisted silos: - cbETH - wstETH - rETH - OHM - gOHM The DAO can whitelist more silos in the future via a governance proposal. Why are we not whitelisting all active silos? The answer is to save users gas. Every reward-whitelisted silo will incur a slight increase in gas upon interacting with the silo - depositing, borrowing, repaying, withdrawing - because the protocol needs to keep track of rewards balances. Updating balances cost additional gas that is paid by users. Since we don’t intend to stream rewards to all silos at the moment, we opted to only whitelist silos that will likely receive some incentives in near future.

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Silo FinanceSILO #3773

23 Feb 2023, 14:36

SIP-42 Mint/Burn XAI to silos 🗳️ The proposal mints 7.25M XAI to select silos. The proposal also removes (burn) 7.25M unutilized XAI from the XAI-ETH silo.

SIP-42 Mint/Burn XAI to silos. The proposal mints 7. 25M XAI to select silos. The proposal also removes (burn) 7.

SIP-42 Mint/Burn XAI to silos 🗳️ https://www.tally.xyz/gov/silo/proposal/7148475142418977177911954013160270071371843275591857420975494776301122777327 The proposal mints 7.25M XAI to select silos. The proposal also removes (burn) 7.25M unutilized XAI from the XAI-ETH silo.