0x3e61fa24…06ecsent to0xa89163f7…af61·#15,307,748·view on Etherscan
SIP-5: Configure a Silo for USDC 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:
USDC
0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48
## Action 1: Set up a price feed for the proposed Silo in price provider
0x8ad599c3a0ff1de082011efddc58f1908eb6e6d8
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 (USDC)
Max Loan to Value (LTV) = 90%
Liquidation Threshold (LT) = 95%
## 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 (USDC)
"uopt": "800000000000000000"
"ucrit": "900000000000000000"
"ulow": "600000000000000000"
"ki": "367011"
"kcrit": "221968543886"
"klow": "31709791984"
"klin": "792744800"
"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 USDC and the bridge asset.
The Silo protocol implements a dynamic interest rate model. For more information visit https://silopedia.silo.finance/interest-rates