Please pay attention to the following Arbitrum executive proposal:
Deploy two new markets on Arbitrum

The transaction affects the following changes:
- Deploy two new markets: WBTC; VELA.
- WBTC will use WBTC/USD Chainlink price feed 🟢
- VELA will use a Uniswap V3 VELA/ETH oracle 🛑
The VELA oracle is vulnerable to manipulation at the moment and therefore the market will not be deployed on the UI until the oracle is initially safe to use. For users who interact directly with smart contracts, refrain from using VELA market yet.

Details here:
https://gov.silo.finance/t/executive-proposal-to-deploy-two-new-markets-on-arbitrum/370

Recommendation of action: UMAMI market
https://app.silo.finance/silo/0xc0ab69fffeb5375235d8caa4f7218097bbcc0a0a

UMAMI DEX liquidity has decreases significantly in the Uniswap V3 pool.

To err on the side of caution, we ask users to pay back loans and withdraw from the UMAMI market.

Reason
When DEX liquidity decreases, lending markets become vulnerable to risks such as failed liquidations or oracle manipulation.

Please remember that our markets are non-custodial and therefore the core team can only recommend actions. It is up to users to act.

Thank you.

@everyone

Reminder to take action:

UMAMI DEX liquidity has decreases significantly in the Uniswap V3 pool.

https://app.silo.finance/silo/0xc0ab69fffeb5375235d8caa4f7218097bbcc0a0a

We ask users to pay back loans and withdraw from the UMAMI market.

Thank you.

You can simulate a borrow position to know how much APR you are going to pay after you borrow.

The simulator is rather important when you plan to borrow a large amount that might increase the utilization of the borrowed asset above the optimal level, changing the borrow APR from Still to Dynamic.

Read the short guide.
https://silopedia.silo.finance/borrow/borrowing/simulating-a-borrow-position

Reminder we have migrated liquidity incentives on Arbitrum to Camelot. If you are LPing on Sushi, please migrate your liquidity to Camelot.

Here is how you can LP on Camelot for APRs ranging from 28.12% to 79.57%

https://silopedia.silo.finance/silo-eth-liquidity-mining/providing-liquidity-on-camelot-arbitrum

Pool: https://app.camelot.exchange/pools/0x48776552223FFca23125e8E9509E949732FAee72

We executed two proposals to disable XAI as collateral in markets where XAI was NOT used as collateral. (no users impacted).

Markets where XAI has zero borrowing power now:
cbETH, FRAX, LUSD, wstETH, XAI-WETH, QNT, DAI, LINK, USDT, CRV, CVX, gOHM, MKR, RAI, SNX, WBTC, YFI, 1INCH, BAL, FXS, RPL, ALCX, LQTY

What does Disabling XAI collateral mean?
- XAI will have zero borrowing power.
- You cannot borrow against XAI deposits.
- XAI deposits do not improve your Health Factor.

You can still deposit XAI to earn interest, and rewards if applicable. Deposit interest is earned when your deposit is borrowed out.


Executed transactions:
Transaction 11, 12: https://app.safe.global/transactions/history?safe=eth:0xE8e8041cB5E3158A0829A19E014CA1cf91098554

We have released SiloRouterV2 ahead of our upcoming Curve release soon. The new router can handle Curve LP tokens which is necessary to handle Curve LP token deposits. SiloRouterV2 is fully audited by ChainSecurity.

All new transactions are now handled by SiloRouterV2 and therefore you might be asked to do new approval transactions upon deposits/repayments etc.


You can find SiloRouterV2 here:
https://etherscan.io/address/0x8658047e48cc09161f4152c79155dac1d710ff0a#code

Please vote on SIP-78: Change XAI credit lines
https://www.tally.xyz/gov/silo/proposal/5496151526489537024856049450296450995955915313345785206070720434570244410754

The proposal Remove/Add XAI in a number of silos. See a summary below:

Silo Change type Change Amount
XAI-ETH Remove - 1,500,000
USDC Remove -1,000,000
1INCH Remove -150,000
MKR Remove -150,000
SNX Remove -150,000
gOHM Remove -300,000
LUSD Remove -500,000
FRAX Remove -500,000

rETH Add 1,500,000
LQTY Add 300,000
wstETH Add 500,000
cbETH Add 250,000
OHM Add 300,000
CRV Add 350,000
stETH/ETH Add 350,000
LUSD/3CRV Add 350,000
FRAX/USDC Add 300,000
YFI Add 350,000

References:
https://gov.silo.finance/t/proposals-to-adjust-xai-credit-lines-increase-protocol-fees-increase-silogovernor-s-votingdelay/384

The folks over at Aura Finance migrated multiple pools, including (50Silo-50WETH pool).

We advise LPs who are providing liquidity in Aura's SILO pool to migrate to the 80Silo-20WETH pool to ensure they continue to received rewards without interruption.
Migrate to: 80SILO-20WETH
https://app.aura.finance/#/pool/78


Pool from: 50Silo-50WETH
LP token address: 0x48607651416a943bf5ac71c41be1420538e78f87
Gauge Contract: 0x75cAceBb5b4a73a530EdcdFdE7cFfbfea44c026E

Hello:

We've added incentives to the following actions:
- Deposit wstETH or ETH into wstETH silo - Arbitrum
- Deposit USDC into OHM silo - Arbitrum
- Deposit ETH into ETH/stETH Curve LP silo - Ethereum

View all rewarded actions here:
https://silopedia.silo.finance/xai-stablecoin/silo-rewards

Hello all,

We are pleased to announce the first isolated lending market for our very own $SILO token on Arbitrum!

The SILOsilo will bring new utility to our token & unlock greater capital efficiency for token holders.

Lend & Borrow in our SILO market:
https://app.silo.finance/silo/0xae1Eb69e880670Ca47C50C9CE712eC2B48FaC3b6

hey fam

Please vote on SIP: 83
Change votingDelay, claim revenues from 12 silos
https://www.tally.xyz/gov/silo/proposal/71994480323364429936333075306351912616369513327147486150606560689122494076718

What are you voting on?

1- Claim XAI revenue (~58,000 XAI):
SiloDAO has extended XAI credit lines into several silos. When users borrow XAI in those silos, all borrowing interest accrues to the DAO (TimelockController). The proposal claims accrued revenues from 12 silos and forwards it to team-controlled Safe (0xE8e8041cB5E3158A0829A19E014CA1cf91098554). The team will add the revenue amount to the buyback program as voted previously.

2- Change votingDelay:
The proposal changes a governance parameter, adding 128-block space (roughly 24 minutes) between the time of creating a proposal and the time the proposal becomes available for delegates to vote on. This prevents multi-block governance attacks

References:
- How XAI works:
https://silopedia.silo.finance/xai-stablecoin/cross-silos-stablecoin

- Increase SiloGovernor’s votingDelay:
https://gov.silo.finance/t/proposals-to-adjust-xai-credit-lines-increase-protocol-fees-increase-silogovernor-s-votingdelay/384

- Team-controlled Safes:
https://silopedia.silo.finance/governance/contracts-and-wallets

Folks, We're joining our friends from Arbitrum, DIA, Y2K on a Space on Friday June 30 at 1:30 ET.

Make sure to tune in.

Twitter Spaces link:
https://twitter.com/arbitrum/status/1673131950494691328?s=20

Discord Event Reminder:
https://discord.gg/bbze7sWh?event=1122909219369275446

gm ladies and gents

We're actively participating in DIA DAO's Oracle Gasdrop!

We were fortunate enough to land the 1st proposal on their forums to better ensure we get this Gasdrop grant, now all we need is you to vote!

With enough votes, Silo will get 1000 $ARB tokens to provide gas funding for usage of DIA oracles, which is critical to Silo's growth. We are already utilizing DIA oracle infrastructure for price feeds for long-tail assets, such as $JONES and $RDPX

$DIA, $ARB and $SILO token holders are eligible to vote.

Please vote on the Snapshot below! Voting period lasts 96 hours:
https://snapshot.org/#/diadao.eth/proposal/0x7de80cbc6010e9beded35ef99e8c56709888c25499f0d90f4d620ca7ab267134
--

Help us amplify on Twitter:
https://twitter.com/SiloFinance/status/1673436086092320769

Thanks everyone!

GM ☀️

rETH is now Silo'd on Arbitrum! Get more utility out of your rETH.

🚜 Farm rewards at Silo and other DeFi protocols
⚖️ Use rETH and ETH as collateral to borrow against
💸 Maximize yields using leverage & advanced trading strategies
----

To really get this market activated and cooking, we need you & frens to spread the word and deposit rETH, ETH, and XAI!

✅ Help us amplify on Twitter:
https://twitter.com/SiloFinance/status/1674440116834816000

✅ Deposit $rETH, $ETH and $XAI in this lending market here:
https://silodao.fyi/rETH-silo

Thanks fam!

hey Silo fam!!

Just a reminder that we have two exciting Twitter Spaces coming up tomorrow, and that voting for our Oracle Gasdrop ends soon:


10am ET / 2pm UTC • On our community call this week we will be joined by our incentives partner GMX, one of the leading Decentralized Perpetual Exchanges!

spaces link: https://twitter.com/i/spaces/1dRJZMNPmnXGB?s=20

----

1:30pm ET / 5:30pm UTC • A few hours later, join us for a fireside chat with the teams at Arbitrum, DIA, and Y2K Finance.

We will discuss this recent Oracle Gasdrop initiative by DIA, upcoming developments from each team, and views on the current state of the Arbitrum ecosystem.

spaces link: https://twitter.com/i/spaces/1YqKDoennAOxV?s=20

----

If you haven't voted for Silo to become a recipient of DIA's Oracle Gasdrop, the voting window closes in about 10 hours.

Vote here with your SILO, DIA or ARB tokens:
https://snapshot.org/#/diadao.eth/proposal/0x7de80cbc6010e9beded35ef99e8c56709888c25499f0d90f4d620ca7ab267134

Silo fam,

Three announcements:

- SIP-83 executed successfully:
59,132 XAI revenue was realized and sent to the team Safe to be added to our buyback program. This is the first time the DAO has claimed any revenue from credit lines.

Transaction: https://etherscan.io/tx/0x7f4cb5054fad6d465668e619620661c48788d2e6a2a83a97b8c678510d990013
Notice SiloDAO claimed revenues from 12 silos. Our largest revenue maker is USDC market, generating
37,407.53 XAI.

- A proposal to enter CVX bribes as an experiment is posted on the forum:
Take a look and share your thoughts in the forum or in ⁠╭💬・proposal-discussion
https://gov.silo.finance/t/allocate-2m-silo-tokens-from-silo-treasury-to-support-cvx-bribing/388

- Community topic posted:
Our esteemed community member narok posted a topic in the forum that deserves our engagement :SiloHug:
https://gov.silo.finance/t/silo-post-v2-plans/387

References:
What are XAI credit lines?
https://silopedia.silo.finance/xai-stablecoin/cross-silos-stablecoin#b386

Safes/Wallets
https://silopedia.silo.finance/governance/contracts-and-wallets

We are happy to announce that the long-awaited "Liquidation price" is now available in the app UI.

You can read about it at this link:
https://silopedia.silo.finance/borrow/liquidation-price

Dopex is imminently upgrading the $rDPX token contract. As a result, we are deprecating the $rDPX lending market immediately.

If you have ANY positions in the $rDPX silo, please close them immediately and withdraw your funds.

$rDPX silo: https://app.silo.finance/silo/0x950AAEDa8C6E806A8c889B4dBCc0361760b86249

Note that this does not affect any of our other markets. Silo remains risk-isolated, meaning activity in one market does not affect others.

#SiloTheRisk