SGR 61: bwUSDC.e-20

Gauge Request Presentation:

• Targeted Pair: 0x5803626dad34fd8a7babcffdd2d8abef32a764b9
• Spectra Wrapped IBT contract address: 0x3034780DE1eA0855AcaAD56259fd73532374Da22
• IBT contract address : 0x322e1d5384aa4ED66AeCa770B95686271de61dc3
• Current TVL in the Pair’s liquidity: $19,369
• Current TVL as IBT: $22.8M
• Twitter: @SiloFinance
• Chain : Sonic

Simple summary:

Silo Finance is a decentralized lending protocol for borrowing and lending crypto assets that uses risk-isolated markets called "silos" to enhance security. Each silo pairs two tokens and lets users borrow one token after using the other to create an overcollateralized position. Users can also lend the borrowed asset to earn interest rates.

Benefit of this integration for Silo

• More liquidity & Additional yield opportunities for their community

Benefit of this integration for Spectra

• Increases the TVL on the Sonic Chain

Metrics:

• The current APY is 11%, with additional Sonic points and Silo points
• 233.34M TVL in the protocol according to Defillama