Buyback program
$SILO buyback program
The SiloDAO generates revenue from multiple sources. We expect the annualized revenue to be somewhere between ~$300K-$500K in 2023, depending on market conditions.
We have started to claim revenues and deposit them in a Gnosis Safe controlled by the core team. We will use all realized revenue to buy back $SILO tokens directly from the SILO/ETH balancer pool, amounting to roughly $25,000–$35,000 buys every month.
Tokens purchased in the buyback program will be used to incentivize users for using the Silo protocol.
SiloDAO revenue sources
Interest generated from extending XAI credit lines into 22 silos
Protocol fees earned on borrows (10% on Ethereum; 25% on Arbitrum)
Rewards generated by LPing in the XAI/FRAXBP Curve pool (locked ~$2.5M in Frax Convex)
Rewards generated by LPing in the XAI/FRAXBP Curve pool (locked ~300K in StakeDAO)
Locking 260K CVX on Convex
Last updated