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The core team is in full swing, coding great releases, promoting the project, and working on great integrations with top project

Silo Finance
Silo Finance
Telegram
03 Feb 2023, 16:10
The core team is in full swing, coding great releases, promoting the project, and working on great integrations with top projects. We promise you a 2023 journey full of exciting releases, some we can disclose, others we will keep under wraps. Q1/Q2 Roadmap - $SILO buyback program The SiloDAO generates revenue from multiple sources. We will turn on protocol fees soon. We expect the annualized revenue to be somewhere between ~$250K-$500K in 2023, depending on market conditions.Yesterday, we used $25K to buy $SILO back. We concentrate all revenues in this Safe - $SILO rewards program Tokens purchased in the buyback program will be used to incentivize users for using the Silo protocol. For example, we can reward ETH depositors in rETH silo. Rewards will likely attract more deposits and loans. Users will receive $SILO rewards passively and claim them directly in the app. - Silo Arbitrum The Silo protocol is launching on Arbitrum soon. - $XAI Credit Lines (CLs) The SiloDAO has made a total of 18.5M XAI available for users to mint with different collateral assets such as ETH, USDC, DAI, USDT, cbETH, wstETH, OHM, and gOHM. These are called Credit Lines or CL for short. More credit lines = more revenue = larger buybacks. - Lending markets for LP tokens Soon: You can borrow $XAI using Curve LP tokens while collecting all CRV/CVX rewards at the same time. - Integrations with other dApps Multiple integrations are taking place but we can talk about the Olympus DAO one. OHM DAO will deposit OHM in the OHM silo and make it borrowable to users depositing XAI or ETH collateral. - Claiming DAO’s vested tokens The SioDAO has been vesting its 450M token allocation since November 2021. The vested tokens have never been claimed. Once claimed, a roughly 188M $SILO tokens will be available in the DAO’s treasury. DAO members control the tokens through governance. - Allocating Contributors’ tokens Please check the snapshot proposal and vote. References Read full announcement: Buyback transaction: