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SIL Finance: DeFi-based intelligent financial management platform



"Red and Black" Author: Stendhal Literary Genre: Novel Red and Black is one of the top ten famous novels in the world. It is a representative work of French writer Stendhal. The protagonist of the story is the son of a small owner. The wife conspired with her to commit adultery, but she did not expect it to be revealed in the end. DeFi solutions improve user experience risk management and insurance, financial investment and important models that have existed since the birth of the Internet, such as company insurance, life insurance, and sunshine insurance. Dealing with users and products A common reason that prevents major players from joining the DeFi and crypto market is the lack of tools they are used to and the perceived risk. Some argue that in order to scale the market, centralized providers need to pay attention to serving them. SIL Finance —— DeFi intelligent financial management platform SIL Finance is a DEFI-based user investment experience solution One of the biggest risks involved in DeFi mining is gratuitous loss, which is when providing liquidity to any automated market maker (AMM) exchange common risks. SIL Finance solves this problem by using a single-sided exposed LP vault, thereby eliminating the need for users to deposit two coins when providing liquidity. Designed to protect DeFi users from permanent losses in the event of market volatility. The platform provides fully decentralized and automatic DeFi management services based on dual-currency liquidity for token swaps and automatic liquidity matching/compound interest. With a strong focus on automation, SIL Finance helps its users automatically select and configure products that suit their interests and risk appetite. According to the annualized rate of return, safety factor, financial management cycle and other factors, it will automatically select and configure the products that best suit the interests of users, making complex liquidity mining easy. Mining revenue will be distributed proportionally to all users, with no intermediaries and no principal commission. This is fair and just. The platform is jointly built by crypto enthusiasts from all over the world, and the management of the platform is entrusted to all SIL holders. This is ideal for risk-averse and less tech-savvy cryptocurrency enthusiasts looking to earn passive income through automated tools. DCG founder Barry Silbert: did not borrow $1.675 billion from Genesis: Jinse Finance reported that Cameron Winklevoss, the co-founder of the cryptocurrency exchange Gemini, issued an open letter claiming that DCG owed Genesis about $1.68 billion in funds, and that the "mess" was all its founders. One person, Barry Silbert, responded on social media, saying that DCG did not borrow $1.675 billion from Genesis, and that the next loan repayment due date is May 2023, and that DCG did not use "malicious delay tactics." Instead of paying back the money, a proposal has been submitted to consultants of Genesis and Cameron Winklevoss on December 29, but no response has been received from Gemini so far. [2023/1/3 22:21:21] SIL Finance is a distributed and diversified financial management platform based on smart contracts. It will continue to optimize pain points, improve efficiency, and meet the financial needs of DeFi users. SIL Finance is a strategic financial instrument. In addition to allowing individuals to participate in arbitrage in the DeFi market, compared with other machine gun pools, SIL Finance's strategy is more intelligent and helps investors participate in liquidity. At the same time, the speculative income of its financial derivatives will help users to carry out diversified planning, investment and financial management. SIL Finance brings users a dual-insurance solution LP combination pool "smart sharing economy" model in DeFi. Through SIL Finance, users don't have to worry about only owning one asset, resulting in failure to deposit it, and don't have to own two pairs of assets. In the SIL Master part of its three-tier architecture, each user only needs to use one token, and automatically finds another user who can store the corresponding assets through its LP combination pool matching. Going back to the previous example, if you were ready to deposit 100 DAI, SIL would automatically match you with someone with 100 CRV (or whatever asset and ratio that particular vault requires). In addition to this, you will both receive LP tokens which represent your ownership of the assets within that vault. At the same time, for the benefits you care about, each participant will receive half of the LP's profits. Cardano Vasil hard fork test network will be launched at the end of May: On May 15th, Cardano development company Input Output (IOHK) tweeted that the Cardano Vasil hard fork test network will be launched at the end of May. [2022/5/15 3:16:52] (SIL Finance implements the LP combination "smart sharing economy" model in DeFi) Circular liquidity intelligent matching reduces the risk of users participating in mining SIL Finance is not limited to simple liquidity Instead of the nested injection of the pool, it will continue to circulate and cooperate with the current liquidity to provide swap and supply. Users do not need to buy another token for mining, so they only need to bear the risk of short-term loss of a single token, but share higher profits. This feature is called (Dual Vault) Double Vault, and the implications can be astronomical, as only one side of the equation needs to be provided to protect users from significant impermanent losses while adding more liquidity to the protocol . To understand SIL Finance, you must first understand its position in DeFi, first of all, the product management model, single-insurance LP pool and double-insurance LP pool-what is the difference? You have probably heard of Yearn Finance’s product, a financial aggregator in its simplest form, which helps users pledge their funds in the product and automatically distributes the assets deposited with the highest yield throughout the Ethereum DeFi ecosystem. The main difference between a Yearn Vault and a Yearn Liquidity Pool is that what a Vault does is not just lending out assets, it also involves something called a strategy. This strategy allows for greater flexibility than standard liquidity pools. In contrast, single-insurance LP pools can be used as collateral, generate fees from transactions and provide LP rewards, in addition to more complex strategies. You can think of liquidity pools as 2D chess, and insurance LP pools as 3D chess - the number of strategies and actions a smart contract can take is vastly increased. Sila and Sequoir Partner to Create Embedded Solutions for Crypto Transactions and Custody: January 14 News, payment infrastructure provider Sila Inc. today announced a partnership with blockchain transaction and custody infrastructure provider Sequoir to create custom solutions for businesses blockchain solutions. Sequoir's Partner API provides a simple and secure way to buy, sell and custody different digital assets, enabling Bitcoin, Ethereum and other digital asset execution, settlement and custody to be quickly and easily embedded in fintech applications or Financial institution. (NS Banking) [2022/1/14 8:48:59] In theory, this should bring additional benefits to users who deposit assets in the Yearn insurance LP pool, because they now have multiple potential income streams , and it's all automated, so you don't have to worry about where to put the earned LP tokens to mine through the pool. Having said that, SIL Finance aims to take this innovation to the next level - with 4D chess if possible. Like liquidity pools, most DeFi products on the market need to deposit a pair of assets in a certain ratio (usually 1:1). However, if you don't have enough DAI to pair with the CRV you want to deposit, you won't get the much-desired LP tokens. SIL Finance solves this problem through its "double insurance LP pool" concept. The technical framework of SIL Finance is a three-tier architecture: SIL Master, Match Pair and Stake Gatling SIL Master is the entry management contract, which handles transactions and the distribution of SIL Token. Match Pair is responsible for matching, and the matching queue adopts a first-in, last-out model to ensure that users who recharge first are paired first. When the partner withdraws funds and withdraws funds, the untethering queue adopts the last-in-first-out model, which also ensures that users who give priority to recharge are in a relatively safe queue position. Stake Gatlin is responsible for mortgaging the paired LP to the mining contract, and according to the configuration strategy, automatically carries out revolving interest, CLAIM income, and converts the income of CLAIM into LP through Swap/Mint, and re-mortgages to obtain income to ensure the maximum benefit. Grayscale founder Barry Silbert lashed out at gold bull Peter Schiff: On June 21, gold bull and Wall Street forecaster Peter Schiff previously stated that if there were no comments from Musk, Barry Silbert, Michael Saylor, and the financial media on Bitcoin Bitcoin will not climb to the high price it is today without the touting of Bitcoin as a "worthless token". In this regard, Grayscale founder Bary Silbert responded, "No matter how bad the cryptocurrency performance is, it is better than your bad gold fund." [2021/6/21 23:53:30] SIL Finance's compound interest model deposits Tokens into SIL Finance will be paired as LP, Stake LP to the mining contract CLAIM income; CLAIM income is exchanged for 2 coins to form a new LP to re-stake. And the newly added LP is distributed to the current LP pool users according to the share. (Compound interest sequence diagram) Token is automatically paired with LP users recharge Token to SIL, and will be automatically paired as LP for mining. At the same time, the user holds half of the rights and interests of this LP (that is, after the LP income is Burned, the corresponding Token income), which can be used at any time Choose to withdraw Token from LP. The pairing model is a three-tier model, which ensures that the first entrant has a safer queue position. (The status of SIL Finance users queuing for matching funds) As shown in the figure above: When recharging and matching, it will first select the matching from the Priority Queue (priority queue), and then select the matching from the Pending Queue. When the user withdraws Token, first withdraw the Token from the Pending Queue, then withdraw the Token from the Priority Queue, and finally burn (LPAmount) from the LP Queue to unstake the corresponding Token for withdrawal. Algorand founder Silvio Micali published a Co-Chains technical paper: Algorand founder Silvio Micali has published a Co-Chain blockchain architecture technical paper. Co-Chain mainly has the following characteristics: 1. It is completely independent from the public blockchain, protecting its transactions from being seen by outsiders, and can choose the verifier node by itself, and run the Algorand consensus agreement by itself; 2. Through cooperation with The Algorand main chain interacts with other Co-Chains and other parties to conduct transactions, and ensures that the process has the same level of security and convenience as asset exchange in Algorand's permissionless public chain; 3. Co-Chain can Use Atomic Transfers (Atomic Transfers), smart contracts (ASC) and other tools and features native to the Algorand public chain; in fact, Co-Chain can automatically enjoy all the upgrades and performance improvements on the Algorand public chain. [2020/3/17] The premise of the blockchain technology team on SIL Finance, the major public opinion events of the project that need to be understood The product was launched on March 18, and a "black swan" incident occurred that night, and the official immediately suspended "deposits/withdrawals" Features. The outage was caused by a smart contract licensing bug, which in turn triggered a generic front-running bot to submit a series of profitable transactions. Reason: A new piece of code pushed by the development team after the SlowMist review introduced a smart contract vulnerability. The purpose of the update is to reduce gas during deposits and withdrawals. The original contract is named MatchPairNormal, while the optimized version currently deployed on the Ethereum mainnet is named MatchPairNormalV2. Although the team's intent was to help users save money, and SlowMist reviewed the updated contracts, the team made the mistake of not conducting a comprehensive security audit after making these changes. On March 20th, after more than 36 hours of hard work by the team and the efforts of all parties, the SIL Finance team announced that all SIL LP funds totaling $12,151,258.16 (at the time of publication) have been withdrawn and guaranteed in multiple withdrawals. Handling SlowMist will undergo another round of rigorous review. In order to improve security, the product will be further audited by the auditor CertiK. On April 8, the latest audit reports of SlowMist and Certik were published. Sister In Law (SIL)'s Certik Audit Report/Cover Technical Team Relations Having dealt with multiple technical teams, the strength is stronger, and the product is more cautious in preventing technical Waterloo incidents. For the "Black Swan" technical incident, SIL Finance cooperated with multiple industry technical teams, including SlowMist team, DODO team, Dominator008, Tina Zhen, samczsun, anonymous robot operator, etc. SIL Finance thanked the White Hat Hackers (samczsun, Tina, Dominator008) who helped during the "Black Swan Incident", and the group donated 40,000 USDT to the Pi-rate Ship collectively to support future white hat operations and MEV research.


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