Silo Report — March ‘24
Greetings to our beloved readoooors and welcome to the SiloDAO report for the Month of March.
After an exciting month of new markets, switching from the STIP to $SILO incentives, and general tomfoolery by our beloved intern, it is time to recentre and reflect upon been happening by the numbers.
March, boys — let’s go!
Market Metrics
TVL
Silo-wide TVL has grown to $375.5m which is a MoM increase of 5.9%.
This is split between:
- Silo Legacy: $38.0m
- Silo Llama: $179.9m
- Silo Arbitrum: $157.6m
This is yet another ATH by TVL which had actually peaked at 405m which occured mid-month.
NEXT STOP IS ONE GORILLION DOLLARS.
Utilization
Silo-wide total borrowed amount is $106.5m, which equates to a utilization rate of 28.4%.
This is split between:
- Silo Legacy: $10.7m
- Silo Llama: $39.5m
- Silo Arbitrum: $56.3m
This is a MoM growth of 12.7% in total borrowed amount.
Our new TVB ATH is largely thanks to Silo Arbitrum which has since flipped Llama as our most highly borrowed deployment!
Degenerate Silo of the Month
“Pretty Easy $ETH? I Guess it’s in the name.”
It’s true, it’s all true.
With the successes of the PT-eETH silo in the prior month, our launch of the PT-ezETH silo saw similar successes.
Having only launched for 9 days, the PT-ezETH silo has since attracted $21m in TVL and facilitated $7m in outstanding loans.
It does appear that people are finally seeing the vision of our dandy little risk-isolated design…
Lending for ALL tokens!
Protocol Metrics
Revenue
These are based on claimed revenue til the 23rd of the month.
Claimed monthly revenue for SiloDAO during March is $261.0k, a MoM growth of 8% and a revenue ATH.
Claim addresses:
Buybacks
Last month we conducted 3(three) buybacks for a total amount of 261,661 $SILO.
This includes:
Treasury Balance
Total funds held by SiloDAO amount to $33,899,408 which can be seen here.
Content and Announcements
Silo Incentive Program
With the conclusion of the STIP, the SiloDAO has begun a 3 month program where 4.3m $SILO will be used to reward users.
Note that ALL of this $SILO is sourced from protocol revenue meaning no dilution to existing users.
Now I wonder when we’ll be able to do a lil’ sumting sumting with those joocy silobucks.
Silo Intern — The Beast Unleashed
For those that follow our socials, you may have chanced upon some retweets by an innocent-looking nugget.
While this little man is of no association with the core contributors, he DOES put out some excellent content regarding strategies using Silo.
Check out his highlight reel to see some of the unique use cases of isolated lending.
I mean who doesn’t like a good spreadsheet.
Community Highlight
If you’d like an entry-level guide to understanding Silo, community member Chris has provided an exceptional full protocol guide.
Make sure to give it a watch here.
Insights and Walkthroughs
Interested in learning how Silo and lending markets work?
Check these out!
- ETH yield arbitrage via wstETH silo
- One-step looping via Contango
- Using Contango for PT-eETH Looping
- Leveraged USDC.e farming via Beefy
- Degenbox v2
Announcements
Keep in the loop with Silo’s recent developments here:
New Markets
Integrations
- ETH (PT-eETH) Beefy Vault (Beefy)
- sETH (PT-eETH) Pendle Pool (Pendle | Silo)
- USDC.e, ETH crvUSD Beefy Vaults (Beefy | Silo)
- Looped PT-eETH Factor Vault (Factor)
- Napier points for Llama users (Napier | Silo)
- USDC.e (ARB; wBTC) Beefy Vaults (Beefy | Silo)
- Triple-Incentivized SILO/wstETH Pool (Defiedge | Silo | Camelot)
- USDC.e (ARB; wBTC) and ETH (weETH) Boosted Beefy Vaults (Beefy)
Closing Comments
Another absolutely BEAUTIFUL little write-up by everyones favourite intern.
Until next time, people.
