0x3e61fa24…06ecsent to0xa89163f7…af61·#15,307,879·view on Etherscan
SIP-10: Configure a Silo for FXS on Ethereum Mainnet
This proposal consists of multiple actions. If the vote is passed, actions will be executed on-chain, resulting in the configuration of a borrow/lend market for the following token asset:
FXS
0x3432B6A60D23Ca0dFCa7761B7ab56459D9C964D0
## Action 1: Set up a price feed for the proposed Silo in price provider
0xcd8286b48936cdac20518247dbd310ab681a9fbf
The action registers a price feed (pool) for the token asset.
## Action 2: Choose a price provider
UniswapV3PriceProvider
The action registers a price provider in the protocol's repository of price providers. The Repository manages price providers and maps assets to their price providers.
## Action 3: Set up maxLTV/LT for an asset (FXS)
Max Loan to Value (LTV) = 65%
Liquidation Threshold (LT) = 85%
## Action 4: Set up maxLTV/LT for a bridge asset (ETH) in a Silo
Max Loan to Value (LTV) = 80%
Liquidation Threshold (LT) = 85%
## Action 5: Set up interest rate model for an asset (FXS)
"uopt": "800000000000000000"
"ucrit": "900000000000000000"
"ulow": "500000000000000000"
"ki": "367011"
"kcrit": "951293759513"
"klow": "63419583968"
"klin": "396372400"
"beta": "277777777777778"
"ri": 0
"Tcrit": 0
## Action 6: Set up interest rate model for a bridge asset (ETH) in a Silo
"uopt": "800000000000000000"
"ucrit": "900000000000000000"
"ulow": "600000000000000000"
"ki": "367011"
"kcrit": "317097919838"
"klow": "5284965331"
"klin": "396372400"
"beta": "277777777777778"
"ri": 0
"Tcrit": 0
Action 5 and Action 6 set forth how interest rates are determined algorithmically at different levels of utilization for both FXS and the bridge asset.
The Silo protocol implements a dynamic interest rate model. For more information visit https://silopedia.silo.finance/interest-rates