Silo, a non-custodial decentralized financial marketplace, announced the launch of his V2 protocol on Sonic on Friday morning, a high-quality layer of 1 network.
This means that users on Sonic can now use credit markets where risks are kept separate. This means that if one market affects problems, it will not drag the others down. After passing different security audits, Silo V2 is now live and already attracted $ 400 million to the platform.
Silo V1 made a large splash in the Defi world and facilitated loans worth hundreds of millions of dollars on more than 50 markets-without flow-ups or solvency problems.
Everyone can create a credit market for every ERC-20-token and make settings such as loan value ratios, liquidation thresholds and interest rates. This means more flexibility for lenders and borrowers and allows users to refine strategies to meet specific assets and market conditions.
Users have control
One of the biggest upgrades with V2 is that users no longer need permission to create a market, which is open to everyone.
Silo has also introduced what is called “hooks”, so that users can add new functions, such as connecting different markets, redirecting inactive funds to other platforms for extra yield or setting up loans for fixed term.
The use of the ERC-4626 standard also means that Silo V2 will be able to communicate with other Defi apps, making it easier to move funds and communicate with different platforms.
Smarter risk management
To keep things safe, SILO V2 now uses a dual oracle system to make calculations of LTV and liquidation threshold more accurate and more accurately reduce and reduce the chances of unacceptable debts.
Another unique feature is that market makers can earn reimbursements about interest and stimuli via an ERC-721 token. This creates a new income flow for market farmers and at the same time creating more diverse and competitive credit options.
Look forward
After Sonic, Silo plans to roll V2 on Ethereum, Arbitrum and Base, to expand its reach and attach its place in the Defi room. With the combination of flexibility, security and scalability, Silo V2 is ready to make decentralized loans more accessible and more user -friendly than ever.
