Beta Markets (phase 1) Vote ID: 3
A few days ago a proposal was posted on the governance forum shortlisting roughly 50 markets eligible for the first 4 weeks of Silo beta - aka phase 1.
How to vote? Use your voting power to vote on the markets you like. You can spread your voting power across any number of markets.
How to decide? Consult the spreadsheet and proposal below:
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Details about markets https://docs.google.com/spreadsheets/d/1_-co94SKGETI1KBiXLcqh22TIiyfCMnj7X7iD7Ys1tc/edit?usp=sharing
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Evaluation framework https://gov.silo.finance/t/proposal-silos-beta-phase-1/245
Deploying Markets 1- Snapshot vote: After this vote is closed, the core team will be consulted for their technical opinion on the top 10 voted assets. 2- On-chain vote: Through Tally, the core team creates an on-chain vote to configure price feeds for voted tokens through one of the price providers registered within the Silo protocol (Uniswap V3 / Balancer V2 oracles). 3- Deploy 10 markets: This can be done by anyone as long as governance has set a price feed for the token asset through on-chain vote (step 2 above)
Note about risks
- Core team is not responsible for tracking the strength of price oracles of deployed Silos.
- Core team cannot change price oracles of a deployed market - only governance can do it.
- Core team can freeze functions in a Silo but that still poses liquidation risk and bad debt to lenders and borrowers.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x91d1...E7feE8 | 2.5M | 33.3% for sETH2, 33.3% for BAL, 33.3% for APE |
 0x51b5...7c4E40 | 2.5M | 14.3% for wstETH, 35.7% for sETH2, 35.7% for BAL, 14.3% for APE |
 0x0906...E77179 | 2.294M | 20% for USDC, 20% for FRAX, 20% for FXS, 20% for CRV, 20% for CVX |
 0x1D2c...1C32db | 1.401M | 16.7% for USDC, 16.7% for WBTC, 16.7% for USDT, 16.7% for wstETH, 16.7% for CVX, 16.7% for APE |
 0xE009...8fE652 | 628,129 | 25% for USDC, 25% for WBTC, 25% for FRAX, 25% for SNX |
VOTE POWER
Proposal Status
- Fri May 13 2022, 02:11 pmVoting Period Starts
- Wed May 18 2022, 02:11 pmEnd Voting Period
Current Results
1-USDC
2.264M
2-CVX
2.17M
3-APE
1.384M