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.
- 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 modified 3mo ago