2024 has been nothing short of exceptional, with major highlights ranging from:
⚫️ 75 new markets deployed
⚫️ Annual revenue of $2.5m
⚫ ATH TVL of $400m
⚫ 2 new chain deployments
⚫ ~80 ETH (nearly $300k) in revenue distributed to SILO holders
Our goal for 2025? Aim higher.
Silo v2 has been a long time cooking, introducing a new frontier to lending with permission-less deployments, custom market logic via hooks, and a brand new UI. It is just one of three exciting new updates to come throughout the year, alongside a revamped SILO token model and liquidity vaults to defragment liquidity.
2024 good. 2025 better.
Let’s go.
Updates on Silo v2
- Silo v2 codebase is now fully audited and formally verified.
- We are preparing to deploy Silo v2 Beta on Sonic on January 7. Deployment on Arbitrum and Base will follow.
- During Beta, Silo v2 will undergo two more audits that should complete pretty quickly. The Sigma Prime team has already started the audit. The third and last audit is a community audit and formal verification contest conducted through Spearbit Cantina, commencing on January 13.
- Silo Vaults codebase is complete now and should be ready for deployment by the end of January 2025. Silo Vaults operate on top of Silo v2 markets as well as any ERC-4626 lending markets, making them ideal for teams curating risk on multiple lending markets. The team is in talks with major risk curators to manage vaults on top of Silo v2 markets.
- A major UI overhaul is underway to offer lenders and borrowers the best UX in class.
Market Metrics
TVL
Silo-wide TVL is currently $106.9m.
This is split between:
- Silo Mainnet: $14.1m
- Silo Arbitrum: $56.7m
- Silo Optimism: $16.1m
- Silo Base: $20.0m
Utilization
The silo-wide total borrowed amount is currently $29.6m, which equates to a utilization rate of 27.7%.
This is split between:
- Silo Mainnet: $1.8m
- Silo Arbitrum: $15.2m
- Silo Optimism: $5.4m
- Silo Base: $7.2m
Protocol Metrics
Revenue
$83,055 in revenue was earned during December [Ref].
spSILO Distribution
$136,000 was distributed to spSILO holders in December.
Treasury Balance
The SiloDAO treasury holds $22.6M as of 4 January 2025 [Ref].
Content Releases
Announcements
- Silo x Alterscope: Analytics Dashboard
- Silo BTCfi Deployment
- Silo x DeFi dot App: Degen Arena
- Silo x Contango: 100k OP Grant
- Silo x Sky: USDS <> sUSDS Hook
