Silo Finance (SILO) news

Silo Finance

Summary With the approval of SIP-19, XAI has been added to the protocol and is now the second bridge asset on all silos alongside ETH. However, before we make XAI available for users to borrow, we first need to build XAI on-chain liquidity in one of the AMM exchanges. Having AMM liquidity is required for XAI loans to be liquidated smoothly.  The Core Contributors team have outlined 3 initiatives:   Initiative 1 We’re currently working on the following:   Obtain a Curve gauge for XAI-FRAXP pool....

Building on-chain liquidity for XAI

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With the approval of SIP-19, we need to work on building onchain liquidity for XAI. To that end, we invite the community to discuss the following governance topic in our Discord server, proposal-discussion channel. 

https://gov.silo.finance/t/building-on-chain-liquidity-for-xai/309

TL;DR
- We need to use some funds to seed XAI liquidity onchain.
- We should use some of our vlCVX to attract deep liquidity. 
- A Snapshot proposal will follow community discussions. 

Join discord: https://discord.gg/silo-finance