Hello Apes!
I’m Yoshua with the business development team at Silo Finance, and I wanted to make a PSA for APE Holders about our lending markets. We currently have a “Silo” (Lending Pool) live for APE where you can borrow ETH and, soon, a stablecoin.
Context
Silo Finance is a Defi Lending protocol that creates permissionless and risk-isolated lending markets. Silo’s Lending markets or “Silos” can be thought of as Uniswap liquidity pools where each token is confined to its own pool, but swaps between pairs happen via the bridge asset (ETH). Restricting each asset to its own pool protects them all from contagion risk like with shared pool models. If a token gets exploited, none of the other silos are affected.
Visualization:
Silo Docs: Read Me - Silopedia
APE Silo
Ape Silo: silo.finance
We currently have a Silo for APE with $65,000 of borrowing liquidity available in the pools. The pool can serve as a great form of capital efficiency for APE holders, who will be able to remain exposed to APE while performing other activities. This opens up a few new avenues for dedicated APE holders, an APE holder can now;
- Borrow to Farm: Hold on to your APE while borrowing assets like ETH to deposit them in other opportunities.
- Leverage long: Increase your exposure to APE by swapping borrowed assets for additional APE.
As our stable coin gets closer and closer to release, we can start looking to increase the amount of borrowing/bridge liquidity in this Silo. We like the APE community and hope that we can do more together in the future. Thank you!
If any Ape community members want to contact me, my telegram is @tenzents or Tenzent#0038 on Discord.