TL;DR
- Launch markets for $PENDLE, $GRAIL, $JOE, and $PLS on Silo Arbitrum
- Launch market for $UWU on Silo Llama (Mainnet)
- Change $GNS oracle to Chainlink GNS/USD
- Change $SILO silo’s $USDC.e IRM configuration to StableHighCapv2
Proposal 1
Launch new markets for the following tokens with to Silo Arbitrum:
- $PENDLE
- $GRAIL
- $JOE
- $PLS
The launch parameters can be seen here.
Rationale
These markets have been reviewed internally and have been deemed viable assets due to:
- Appropriate oracle
- Sufficient on-chain liquidity
With the Arbitrum STIP approaching, it is important to establish our position as a lending market for all tokens. This is an excellent opportunity to showcase this by providing the first access to leverage for some mainstay tokens from Arbitrum with $ARB incentives.
Proposal 2
Launch new market for $UWU on Silo Llama
Rationale
This market has been reviewed internally and has been deemed viable due to:
- Sufficient on-chain liquidity
Silo Llama has been the fastest growing Silo deployment and targeting markets with strong borrowing demand will allow us to scale further.
The launch parameters can be seen here.
Risk of using UWU market:
- Concentration of token supply in a few wallets
- Oracle is secured by a few LPs. Oracle manipulation is possible.
Proposal 3
Chain $GNS oracle to Chainlink’s GNS/USD
Rationale
$GNS currently uses an Arbitrum Uniswap v3 oracle which is vulnerable to manipulation. Switching the primary oracle to Chainlink makes the price feed significantly stronger as prices are grabbed from multiple avenues.
Proposal 4
Change $SILO silo’s $USDC.e IRM configuration to StableHighCapv2.
Rationale
The $SILO silo was deployed with the most aggressive IRM as on-chain liquidity on Arbitrum at the time was relatively shallow. With deeper liquidity and integration of 1inch liquidators, we believe it is suitable to opt for a more conservative $USDC.e IRM.
This will effectively halve borrow APR relative to the original IRM.