[Mission Request] Optimism Dominance in Yield-Bearing Assets (3 of 4)

Governance Fund Missions 🏹
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22

Hello, this is Ayham, a founding contributor for Silo Finance. We would like to request to be included among the whitelisted protocols.

Silo has been providing users with efficient and secure lending markets since September 2021, having shown exponential growth on Optimism since our deployment in June 2024. Silo is currently the third largest Lending protocol on Optimism, with 33M TVL of which 11.4M deposited/borrowed belong to Yield-Bearing Assets. We are set for continued development in the Superchain, building upon our recent expansion to Base.

Silo’s innovative design brings numerous benefits, from enabling better risk management and optimizing yield to unlimited markets for the under-served crypto segment. Our upcoming v2 will introduce new features, including veSILO Governance, Liquidity Vaults and Silo v2 Markets.

If whitelisted, Silo will direct all granted OP to the subsidizing of supply and borrow rates on all whitelisted yield-bearing assets markets (currently wstETH, rETH, sfrxETH, wUSDM). This would allow new and existing users to engage with these assets at a much higher level, arbitrage among the subsidized rates, and leverage their exposure to the assets’ native yield.

Silo has proved through its previous mission request that it can be efficient with such grants. An independent analysis by the Optimism DAO has already shown that Silo had among the most significant impact per OP received.

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We’ve also made the statistics from the previous round of grants available to the public via dune and with this round in play we’ll continue to make progress on data availability for analysis.

https://dune.com/silo_finance/optimism

Besides the dune dashboard, our incredible community members have built an API for the most critical metrics. This API can be found in Silo.Observer.

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