Silo Report — February ‘24
Well… since we’re posting this half a month late already, the most exciting announcement-of-an-announcement of 2024 has already gone out.
That’s right lads, the boys have been cooking.
But for what you’re all here for… some exceptionally interesting financial reporting for the month of February.
Continue!
Market Metrics
TVL
Silo-wide TVL has grown to $354.6m which is a MoM increase of 24.6%.
This is split between:
- Silo Legacy: $26.5m
- Silo Llama: $205.5m
- Silo Arbitrum: $122.5m
Last month saw our first decline since the initiation of Silo Reports.
This month has seen yet another TVL ATH.
Absolutely incredible 👏
Utilization
Silo-wide total borrowed amount is $94.5m, which equates to a utilization rate of 28.8%.
This is split between:
- Silo Legacy: $5.7m
- Silo Llama: $49.9m
- Silo Arbitrum: $38.9m
This is a MoM growth of 15.2% in total borrowed amount.
Degenerate Silo of the Month
“What in tarnation's is this indiscriminate hodgepodge of miscellaneous letters supposed to mean?”
We hear you ask.
In fact, this is our very first market for Pendle PT-tokens which has grown to 5.5m TVL in less than 24 hours!
God speed, our PT-warriors!
Protocol Metrics
Revenue
These are based on claimed revenue til the 23rd of the month.
Claimed monthly revenue for SiloDAO during February is $242.6k.
Claim addresses:
Note that this is the first month where revenues are based on actual claims as opposed to estimates. Additionally, we have opted to omit revenue from deployed treasury assets to give a clearer indication of protocol performance.
Buybacks
Last month we conducted 5 (five) buybacks for a total amount of 583,382 $SILO.
This includes:
- TXID1: 100,319 $SILO
- TXID2: 125,459 $SILO
- TXID3: 125,856 $SILO
- TXID4: 115,373 $SILO
- TXID5: 116,375 $SILO
Treasury Balance
Total funds held by SiloDAO amount to $23,987,126 which can be seen here.
Farm Metrics
$SILO and $XAI have incentivized pools across Ethereum and Arbitrum including:
Ethereum
SILO/frxETH/crvUSD (Convex | Curve)
- TVL: $242k
- vAPR: 86.13%
SILO/ETH 80:20 (Aura | Balancer)
- TVL: $1.74m
- vAPR: 8.04%
- TVL: $2.5m
- vAPR: 6.85% (12.85–16.84% via Frax | Convex | Curve)
Arbitrum
- TVL: $165.1k
- APR: 73.1%
Content and Announcements
Our First PT-Market: PT-eETH Silo
It has been a hot minute since our last listing of an exotic market but here’s one that you will tell your ENTIRE bloodline about.
Through the tumultuous cold of Denver and throughout many an unforeseen obstacle, we managed to release a PT-eETH silo on Arbitrum.
This is our very first foray into the land of Pendle PT Tokens and definitely will not be the last.
Silo @ ETHDenver
In an exciting turn of events, the Silo team had the chance to…
Taken me home…
Country road…
To the place…
I belong…
Do make sure to swing on by and say hi if you happen to be in the area.
Rumors have it that we have, dare I say, “merchandise”.
Insights and Walkthroughs
Interested in learning how Silo and lending markets work? Check these out!
- Silo x Woo Yield Arbitrage
- One ETH, Three Layers of Rewards (weETH silo)
- Looped stEUR Strategy
- weETH silo Strategies (x3)
- Leveraged ETHx Staking
- stEUR Yield Arbitrage
- Peg Agnostic Point farming with weETH silo
Announcements
Keep in the loop with Silo’s recent developments here:
New Markets
Integrations
- Rivo
- Portals Finance
- Savvy Finance
- Contango
- Pendle: sETH-wstETH
- Beefy: sETH-weETH
- Beefy: $SILO Boosted Vault
Closing Comments
Another absolutely BEAUTIFUL little write-up by everyones favourite intern.
Until next time, people.
