Progress Report
- Quantstamp re-audit and ABDK initial audit both begin 28th March
- We will NOT wait for ABDK initial audit for launch unless critical vulnerabilities not picked up by QS are found
- Working on swap-like experience: Token A → Bridge → Token B in one transaction.
- Hired 2 senior solidity engineers
- In the process of hiring product manager / Front-end engineer
Liquidity Updates
- After community discussion, 250,212 $CVX has been acquired by the Development Fund — this unorthodox approach of acquiring via Development Fund and reimbursing from treasury later was for timeliness and to avoid front-running
- $CVX will be used to direct $CRV emissions to our SILO:FRAX Curve v2 Pool to incentivize liquidity without $SILO dilution
- To receive these $CRV emissions, we must first get gauge approval from Curve governance — a proposal has been prepared here
- $CVX and $CRV holders will be encouraged to vote on a SILO:FRAX gauge if they see high TVL and high transaction history, so please migrate trading to our Curve v2 pool!
- In the interim, Silo DAO will allocate our vlCVX voting power to Votium to collect bribes and expand our treasury
- Deploying liquidity from treasury is possible but will run the risk of IL borne by the treasury — bring it up in #proposal-discussion (discord) if you want to explore this option
Further Reading
- Spreadsheet for $CRV/$CVX emissions: https://docs.google.com/spreadsheets/d/14Pgwh_qQja6VtBil0tOl-4FatbKX2lmPFtsDsTPc-Ls/edit#gid=0
- SILO:FRAX Curve Governance Proposal: https://gov.curve.fi/t/proposal-to-add-silo-frax-to-gauge-controller/2691
- Silo Enters the Curve Wars: https://medium.com/silo-protocol/silo-enters-the-curve-wars-91ba701b8170
- Rationale for entering Curve Wars: https://medium.com/silo-protocol/a-brainlets-dive-into-curve-finance-silo-edition-3f1bc06491af
- $CVX Incentives Analysis: https://medium.com/silo-pro
