Podcast Summary
In this episode, the Silo team discusses their recent developments, including the growth of Silo Llama and the Wi-Fi Market. They also touch on the potential of adding Yearn’s New Y ease product to their platform and their plans for V2 of their protocol. The team also discusses the importance of establishing a base APR for Curve USD users to incentivize lending and borrowing activities. The episode concludes with a discussion on the current state of the DeFi markets and the potential for project acquisitions.
Key Takeaways
Growth of Silo Llama and Wi-Fi Market
- Silo Llama’s Success: The Silo team reports significant growth in the Curve Market for their protocol, Silo Llama, with around three million TVL (Total Value Locked) in the Wi-Fi Market.
- Wi-Fi Market Expansion: The team highlights the growth of the Wi-Fi Market, with about 2 million TVL and half a million Curve ESD being borrowed. They note that Wi-Fi is the only lending market on Ethereum, as other platforms have frozen support for it.
Future Plans for Silo
- Adding Yearn’s New Y Ease Product: The team discusses the potential of adding Yearn’s New Y ease product to their platform in the future, which could provide additional opportunities for users.
- Preparation for V2 of Silo Protocol: The team is preparing for V2 of their protocol and plans to undergo audits and formal verification. This update is expected to address some of the issues they have faced in establishing isolated markets.
Incentivizing Lending and Borrowing Activities
- Establishing a Base APR: The team discusses the importance of establishing a base APR for Curve USD users to incentivize lending and borrowing activities. They suggest that V Silo can provide incentives to establish a base APR, guaranteeing a certain return for Curve USD users.
- Creating Yield-Bearing Opportunities: The podcast discusses the need to create yield-bearing opportunities and a base APR for Curve USD users in other lending markets to encourage them to deposit their tokens.
Current State of DeFi Markets
- Challenges for Developers: The hosts discuss the challenges faced by developers in the current market and the potential for them to explore other opportunities. They predict that the number of projects winding down will increase over the next two to three quarters.
- Potential for Project Acquisitions: The speaker suggests that project acquisitions may be a solution for projects that have a good team but lack runway and want to continue working on other projects.
Sentiment Analysis
- Bullish: The team expresses optimism about the growth of Silo Llama and the Wi-Fi Market, as well as the potential of adding Yearn’s New Y ease product to their platform. They also discuss their plans for V2 of their protocol, suggesting confidence in their future developments.
- Bearish: The hosts express concerns about the current state of the DeFi markets, predicting an increase in the number of projects winding down over the next two to three quarters. They also discuss the challenges faced by developers in the current market.
- Neutral: The team discusses the importance of establishing a base APR for Curve USD users to incentivize lending and borrowing activities, suggesting a balanced view on the potential for growth in this area.
