SIL Finance - A single-sided Yield aggregator with NFT farming card Add-ons

SIL Finance - A single-sided Yield aggregator with NFT farming card Add-ons

By Ishaan Goyal | CrypticWeirdos | 12 Sep 2021


SIL, abbreviated as "Sister in Law," is a decentralized automatic investment platform based on smart contracts. It focuses on providing the DeFi Financial Management services to users and offers dual-token liquidity for variable swaps, intuitive compound interests, and automatic LP matching.

It automatically selects and configures the products that best suit the interests of users and make complex liquidity mining simple according to factors such as annualized rate of return, safety factor, and financial management cycle, etc.; there are no intermediary and principal commission fees as revenue of mining will be distributed to all users in proportion. The platform is built jointly by crypto enthusiasts from all over the world. Management of such a platform is entrusted to all the SIL holders. The single-sided functionality is solely contributed by users, as SIL's model is unique on the DeFi market. The product is way more open than yield products and gives all the possible choices back to the community.

 

Features of SIL

SIL holds unique features such as the following: -

  • SIL offers a compound interest mechanism.
  • SIL is based on LP grouping. It is a concept similar to the DeFi vault. For more understanding, let us take an example that there are two users. User 'A' holds ETH but not USDT. User 'B' holds USDT and not ETH. Now user' B' wants to gain interest by participating in mining and does not want to convert USDT to ETH to participate due to ETH's price soaring. For such instances, SIL provides a liquidity pool that matches the ETH of user 'A' with USDT of user 'B' in the form of the bundle for participating. This pool thus mutually benefits both the users in a P2P dual-mining model.
  • Total issuance offered by SIL is 30,000 and the total circulation is also 30,000 SIL.
  • SIL tokens are also issued to participants through the Matryoshka mechanism.

The sister-in-law project has also been bootstrapped on BSC and has the following features on BSC:-

  • Single token yield farming (xSIL bar)
  • Sister-in-law augmented function NFT (SAFN)
  • Hedge farming and LP yield farming

Sister-in-law augmented function NFT includes early-bird airdropping. Yet, the augmented function has not been enabled. On Ethereum, SIL has the following remaining features: the hedge pool with no SIL rewards, the LP yield pool with no SIL rewards, and ETH to BSC bridging.


Partnership of SIL Finance with my DeFi Pet

This partnership will help to explore more possibilities with the GameFi industry. My DeFi Pet is the first step for this purpose. With a single token yielding scheme, the first mode in SIL is to support the My DeFi Pet trading pair on PancakeSwap that opens up more incentives.

My DeFi Pet is a game combining the structure of traditional games and DeFi features to deliver a unique experience in DeFi and NFT collecting. Players in this game can collect, breed, trade pets, raise to evolve and fight, and can participate in seasonal events for attractive prizes up to $100,000. Your pet can also grow unique stats through a reward system based on activities that are specific to your lifestyle.

TopeBox developed My DeFi Pet, which is a leading game in Vietnam. It is a popular game in the AppStore with more than 100 million downloads globally. It aims to become a global hit using blockchain and DeFi support from Dual Node Technology, a non-invasive cross-chain scaling platform. My DeFi Pet is blazing the trail in the gaming industry as it has recently won Binance Vietnam Super Hackathon. My DeFi emerged victorious, taking the grand prize as it was up against other projects on Binance Smart Chain and has put the game on the global map.

My DeFi merges the traditional gaming experience of NFTs and DeFi in a single platform. It holds more than 194,641 tokens with a diluted market cap of $453,947,645.18 and daily transactions around $2,000,769.54 solely of DPET/BNB on PancakeSwap. These numbers keep on growing as more players are attracted to the game.

DPET token is a native token that gives you the freedom to control your gaming experience. There were more than 3,000,000 overall transactions in August. Pet masters used such transactions for trading, exchanging, and improving the pets and their qualities in the first phase. In the future, it will be used for governance, staking DPET tokens into pools, social mining, and playing to earn. My DeFi has a circulating supply of 12.1 million DPET coins with a maximum supply of 100 million.

The release of more features and updates is expected in the new build in Q3 2021, as My DeFi announced. Other than this, there are more special features also expected. My DeFi Pet is backed by major giants such as Animoca brands, Spark Digital Capital, DFG, OKEx Blockdream Ventures, and Kardia Ventures. It has also formed associations and partnerships with Kardiachain, Mantra DAO, VNDC Stablecoin, and BSC station. It is setting itself on the right track to spearhead the next wave of NFT gaming.

 

SIL Finance Ambassador Program

The SIL Finance Ambassador Program, also known as SIL-AMB, is a vital part of SIL. It enables blockchain evangelists (AMB) across the globe to help support the project. Meanwhile, it shares the accomplishment and rewards along with the project. The SIL team hopes to gather the strength of the community to build and develop the SIL ecosystem altogether. The SIL team encourages cooperation to bring mutual benefits as long as AMB thinks that it's worth trying.

 

SIL BSC Integration

SIL FINANCE has finished integration with BinanceChain as it includes PancakeSwapand BurgerSwap. Through Poly Network, Ethereum assets also bridge to BinanceChainand; details will be disclosed when the time is right. The roadmap on Binance Chain is as follows:

  • The SIL LP pool will open, and there will be a SIL single token yield pool.
  • The SIL FINANCE product suite is going to be deployed on BinanceChain.
  • On SIL's Yield Interface, the SIL rewarding leverage will be tripled or quadrupled.

 

Conclusion

SIL Finance automatically selects and configures the products which suit best according to the interests of users. It involves factors including annualized rate of return, safety factor, and financial management cycle. SIL Finance also takes risks that are usually concerned with liquidity mining.

 

 

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