The “Sister In Law” DeFi Project
What is SIL? 👯
“Sister In Law” token a.k.a “SIL” a decentralized automatic investment platform based on smart contracts, focusing on providing users with DeFi Financial Management services. SIL provides dual-token liquidity for variable swaps, automatic LP matching, and automatic compound interests.
According to factors such as annualized rate of return, safety factor, financial management cycle, etc., it automatically selects and configures products that best suit the interests of users, make complex liquidity mining to become simple. The revenue of mining will be distributed to all users in proportion, there is no intermediary, no principal commission fees. It’s fair and just. The platform is jointly built by crypto enthusiasts from all over the world, and the management of the platform is entrusted to all SIL holders.. (Please refer to the white paper for more details attached in another post)
Features of SIL:
- LP Grouping: Similar concept to the DeFi “Vault”. For instance, user_a holds ETH but not USDT, user_b holds USDT but not ETH; b wants to participate in the mining to gain interest; while due to ETH’s price soars, b does not want to convert USDT to ETH to participate; SIL provides a liquidity pool that matches (grouping) user_a’s ETH with user_b’s USDT as a bundle to participate. This pool halving the risks for both user_a and user_b, mutually benefits both of the users in a P2P dual-mining model.
- Compound interest mechanism
- Matryoshka Mechanism: Based on the LP matching mechanism, besides gaining compounding interest on the original digital asset(s) investment, SIL token is issued to participants through such a mining process.
- Total Issuance: 30,000 SIL; Total Circulation: 30,000 SIL.
A quick glance at YFI and YFII tokens:
YFI mainly raises investor’s funds for single-currency mining, but we could easily find that the gain from single-currency mining is already out of the scope, and the revenue is almost single-digit. Additionally, single-currency mining does not provide any liquidity for SWAP. Hence, YFI is a Ponzi-alike mechanism. While we want to provide a dual-currency mining Machine gun pool, it is not the dual-currency matryoshka model in the current market as you may see.
What problems can SIL solve?
For example, we observed that the SUSHI-ETH swap dual currency mining has a high APY. While the real scenario is there only exists ETH rather SUSHI; while SIL could help you match the user group that holds sushi but without ETH, by grouping (LPs) to participate in the mining progress, and benefit everyone who shares the dividends equally, since everyone has half of the principal.
As for gratuitous losses, the first set is to bear their own gratuitous, and the second set will come out to minimize gratuitous solutions (Solving the free income is low)
Is SIL the same with YEARN’s vaults?
No, the approach is different. Earn refers to the single-currency mining, with single-digit earnings, single-currency mining shall not continue, and no liquidity is provided for SWAP. And SIL can bring liquidity with all SWAP in the future.
Vaults are currently mainly in Matryoshka CRV but we don’t touch CRV. The risk of flash loans is relatively high. In the early days, they used to slap wool. Now they look at the single currency where there is a profit, but it is not high.
Regarding SIL positioning
The positioning Machine gun pool can be used as PayPal and Matrixport in the DeFi world. In the future, we will perform DeFi-CeFi arbitrage and be the liquidator of COMP.
De-trust through smart contracts.
For further information, please reach out to us: contact@sil.finance 👯
