Addendum
TL;DR
- Moving governance to Arbitrum
- Adjusting veSILO minting mechanism
- Listing $SILO on CEXs
Moving veSILO governance to Arbitrum
The SiloDAO should consider deploying veSILO governance onto Arbitrum to enable broader participation in governance, cost-effective voting, and easier and more efficient revenue distribution (if the feature is turned on). For example, if SiloDAO decides to share revenue with veSILO holders, repeatedly claiming these rewards may be expensive, as would voting regularly on distributing SILO incentives to markets (i.e., gauge weight voting).
Adjusting the mechanism to mint veSILO
Previously we proposed a mechanism to mint veSILO that would require users to lock SILO/WETH. We propose a new mechanism that would only require locking $SILO to mint veSILO. See below.
New mechanism
Old mechanism
Listing $SILO on CEXs
Listing $SILO on top-tier CEX remains a priority. To be on major CEXs, we must increase our token trading volume and expand our governance user base. To that end, we are taking the following steps:
- We’re working to list $SILO on a mid-sized CEX soon.
- We have engaged market markers to achieve a balanced order book on the CEX.
- We have initiated conversions with top-tier CEXs to list $SILO once the token has met all listing requirements.