Silo

You’re voting to deploy a lending market for $SILO.

If you vote “Yes”, you’re agreeing to the following:

• Deploy $SILO silo: maxLTV=50%; LT=60%.
• Disable borrowing for $SILO - users can collateralize $SILO to borrow XAI/ETH only.
• Impose 150 ETH deposit cap on $SILO.
• Use DAO funds to deploy 100ETH + equivalent amount in $SILO to SILO/ETH Uniswap V3 pool (full range, 0 - ∞).
• Authorize the core team to manage the Uniswap V3 liquidity position to maintain a secure price oracle.

Rationale

• With decent liquidity on the market, we can deploy a lending market to provide additional utility for token holders.
• Pros: Use case of holding the token; larger trading volumes because of leverage (if there are strategies).
• Cons: Token can be shorted unless borrowing is disabled; liquidation attacks; governance attack becomes viable.