{"id":7092,"date":"2021-03-19T13:13:19","date_gmt":"2021-03-19T11:13:19","guid":{"rendered":"https:\/\/esatoshi.club\/?p=7092"},"modified":"2021-03-19T13:13:25","modified_gmt":"2021-03-19T11:13:25","slug":"sil-finance-x-satoshi-club-ama-recap-from-18th-march","status":"publish","type":"post","link":"https:\/\/satoshi-club.esipick.com\/index.php\/2021\/03\/19\/sil-finance-x-satoshi-club-ama-recap-from-18th-march\/","title":{"rendered":"SIL Finance x Satoshi Club AMA Recap from 18th March"},"content":{"rendered":"\n

Hello, Satoshi clubbers Another AMA took place in\nSatoshi Club and we would like to introduce to you the AMA session with our\nfriends from SIL Finance and our guest was @lianana one of the co-founder of SIL\nFinance. The AMA took place on 18th<\/sup> March.<\/p>\n\n\n\n

The AMA session was divided into 3 parts with a total\ncrypto reward pool of 500$ <\/p>\n\n\n\n

In this AMA Recap we will try to summarise the most\ninteresting points for you.<\/p>\n\n\n\n

Part 1 \u2014 introduction and\nquestions from the Telegram  community<\/strong><\/h2>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> Good evening, dear community! <\/p>\n\n\n\n

Let’s start our today’s\nseries of AMA marathons with SIL Finance.<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> good day Satoshi Club! 🙌 let’s welcoming\nour today’s guest – @lianana ! welcome to Satoshi Club!<\/p>\n\n\n\n

how are you doing?<\/p>\n\n\n\n

liana:<\/strong> Hey\n@Cool_as_Ice<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong>Welcome to Satoshi Club, @lianana 😊<\/p>\n\n\n\n

Thanks for joining😊<\/p>\n\n\n\n

liana:<\/strong> cool,\nyes thank you very much, this is Vincent from Sil.Finance team<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> good to have you here Vincent 👍<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> To begin with, please tell us a few\nwords about yourselves and how did you get to be involved in crypto & SIL\nFinance?😊<\/p>\n\n\n\n

liana:<\/strong> It’s\nbeen so nice to joine Satoshi Club for a event<\/p>\n\n\n\n

Sure, I mostly represent\nthe tech team<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> thank you! 😊 we are very glad that you are here ☺️<\/p>\n\n\n\n

liana:\n<\/strong>I’ve\nbeen a serial entrepreneur that mostly focuses on fundamental technology, ex\nBitMart co-founder and ex Ethereum dev.<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> that’s a huge experience<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> Nice background<\/p>\n\n\n\n

liana:<\/strong> I’m\none of the collective founder of three<\/p>\n\n\n\n

Please allow me to\nintroduce our team<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> yes. please! 😊<\/p>\n\n\n\n

liana:<\/strong> Let’s\nbegin with another two co-founders<\/p>\n\n\n\n

We have the Big Orange,\nhe is an early adopter in the crypto space since 2013, and is a well-known\ncommunity leader in China, a.k.a KOL.<\/p>\n\n\n\n

He has so many fans that\nI’ve to mute most of them, or my phone gonna blow, and he has good\nrelationships with many awesome and well-known exchanges.<\/p>\n\n\n\n

Mr.Da, he’s an\noperational pro guy, ex okex, helped various projects up to their tracks.<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> haha popular guy 😁<\/p>\n\n\n\n

liana:<\/strong> we\nthree are the collective founder of SIl.Finance<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> nice! so you know each other for a long\ntime?<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> cool team! 😉<\/p>\n\n\n\n

liana:<\/strong> yeah,\nwe been through last bull market together<\/p>\n\n\n\n

the Big Orange was in\ncrypto since 2013<\/p>\n\n\n\n

I was Ethereum dev since\n2016<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> old crypto buddies 😉<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> Yes, this is more than a crypto\nfriendship 😁🚀\nThese are the crypto brothers 😉<\/p>\n\n\n\n

liana:<\/strong> Also,\nwe have Alex and Alvin with us, they are in charge of global marketing\nstrategies and business developments<\/p>\n\n\n\n

we each excel in our own\nrealms, and now we made a team<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> awesome! so what exactly are you building\nin SIL? could you represent your project? 😊<\/p>\n\n\n\n

liana:<\/strong> Alex\nJoined crypto industry since 2017, worked as senior executive in some\nsuccessful crypto projects, former okex senior global manager. Alvin has a\nbackground of TRON Foundation ecosystem building and product lead, Abra CeFi\nproduct lead, and Paxful product lead. Been advising projects like top 30\nexchange, cloud mining as well. He resonated with SIL\u2019s approch in DeFi and\nhave been building sil.finance with the rest of the team.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> Can you tell us all more about the\nproject, the idea, how it started? And especially why is it needed?<\/p>\n\n\n\n

liana:<\/strong> Sure<\/p>\n\n\n\n

SIL is a decentralized\npassive investment platform based on smart contracts, focusing on providing<\/p>\n\n\n\n

users with DeFi synthetic\nfinancial services. It is a strategic financial tool that helps individuals<\/p>\n\n\n\n

arbitrage in the DeFi\nmarket. It is also a liquidity constructor and income aggregator, a derivative\ntool<\/p>\n\n\n\n

that hedges your funds to\nmeet a macro financialplan.<\/p>\n\n\n\n

SIL provides dual token\nliquidity for many swaps, automated LP pairing, and automated compound\ninterest. According to factors such as annualized rate of return, safety\nfactor, financial management cycle, etc., it automatically selects and\nconfigures products that best meet the interests of users, allowing complex\nliquidity mining becomes extremely simple.<\/p>\n\n\n\n

The mining revenue will\nbe distributed to all users in proportion, there is no middleman, no\ncommission. The platform is jointly built by cryptocurrency participants from\nall over the world, and the management of the platform is entrusted to all SIL\nholders.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> Thanks for great intro!<\/p>\n\n\n\n

D. | Satoshi Club:<\/strong> wow, what a complex product 👀 sounds cool 😄<\/p>\n\n\n\n

liana:<\/strong> hold\non, a long one<\/p>\n\n\n\n

SIL features a three-tier\narchitecture: SILMaster, MatchPair and StakeGatling. SILMaster is the entry\nmanagement contract, processing transactions and the distribution of SIL Token.\nMatchPair is responsible for matching. The matching queue adopts a\nfirst-in-last-out model to ensure that users who recharge first are matched\nfirst. When the matching party withdraws funds, the queue adopts the\nlast-in-first-out model. It also ensures that users with priority recharge are\nin a relatively safe queue position. StakeGatling is responsible for\ncollateralizing the matched LP to the mining contract. And then according to\nthe configuration strategy, it will automatically roll out the profit, CLAIM\nincome and convert the income of CLAIM into LP through Swap\/Mint, and\nre-mortgage to obtain income to ensure the maximum benefit.<\/p>\n\n\n\n

From the beginning, SIL\nFinance has been focusing on transaction-based liquidity pools. But there is a\nwell-known function or we call that defect in the pool based on token exchange\n(LP), which is, impermanence loss (IL). That usually surprises new players and\nis rejected by experienced players. It is difficult for an ordinary player to\ncontrol the whole surface. In order to minimize volatility preferences, SIL\nintroduced a smart contract-based matching engine that provides two additional\nsolutions for current LP players, and both only require players to provide a\nsingle-side token.<\/p>\n\n\n\n

As a pioneer project of\nthe DeFi aggregator track, SIL built itself upon Ethereum, and strives to\ndevelop the ecology, to make DeFi simpler, to create more value for users, so\nthat more people can access and participate in DEFI with inclusive financial\nrealizations.<\/p>\n\n\n\n

The whole project starts from where UniSwap gets hot and SushiSwap came in bound, we are all early adopters of UNI and SUSHI, and we played a lot in DeFi, but soon we find the issue that not everyone has both sides of the tokens of the pair, e.g., the Big Orange found that, the fans in his group, they usually have one side of the tokens, and they tried to find the opposite users in that group, so they could make a match, like I have ETH and John.Doe have USDT, we all don’t want to lose our positions, so why not let’s make a team and get into UNI or SUSHI together, and split the profit later.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> You did a good job on the concept👍<\/p>\n\n\n\n

liana:<\/strong> It’s\naround September 2020, where we find the idea that make a one-sided liquidity\npool maybe a practical idea, soon we sit down and brain-stormed the prototype,\nand during our development, we recruited a few test users from our community,\nthey give us a lot of feedbacks, mostly importantly, they give us the idea that\nif we can reduce the IL(Impermanent Loss), they will really like our product.\nGuys you can check our site, https:\/\/sil.finance , there are two modes there,\none is just one-sided composition, another is IL reduction mode, this is the\nstrength from the community, really impressive, besides that, we did a lot of\ncode improvements and other security stuffs, this is how we get here today.<\/p>\n\n\n\n

We intended to make\nSil.Finance an easy entry-level product for the beginners in the crypto space,\nand let users make more profits than their own.<\/p>\n\n\n\n

thank you @GoldRocket27<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> thank you! for awesome intro and\nrepresentation of SIL! our community have lots of questions about all aspects\nof your project 😉\nso let’s open the first part of AMA and hear them?<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> It is very good that you are trying\nto bring mass adoption closer! The crypto world is penetrating more and more\ninto the lives of ordinary people. They don’t want to study technology. They\nneed to press a button and get the result 😁<\/p>\n\n\n\n

liana:<\/strong>  yeah, let’s go ahead<\/p>\n\n\n\n

D.\n| Satoshi Club: <\/strong>that’s true 😆<\/p>\n\n\n\n

let’s go!<\/p>\n\n\n\n

Q1 from Telegram\nuser @NataliyaKil<\/em><\/strong><\/p>\n\n\n\n

I noticed the name of\nyour project: \u201cSister in law\u201d. Recently, projects with the names of vegetables,\nfruits and animals often come to AMA in Satoshi Club \u2026. Seeing you, I wondered\nwhat the name of your project means, how did you come to this? After all, Sister\nin law is one of the family members, and I assume that your project is a kind\nof family business and family values  \nare important to you? Please share this information with us.<\/strong><\/p>\n\n\n\n

liana:<\/strong> Indeed<\/p>\n\n\n\n

That’s correct, the SIL\nconcept comes from the abbreviation of Sister in Law, which is a meme to YFI.\nIt\u2019s a meme, it\u2019s like a family.<\/p>\n\n\n\n

We see that YFI, YFII,\netc, hey we tried to by family<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>What other relatives do you have in\nyour family? 😁<\/p>\n\n\n\n

liana:<\/strong>  We liked the idea of YFI, you can see that\nhave the same token amount as YFI, lol<\/p>\n\n\n\n

Wow, you hit the spot,\nthere are sisters in the family, and they would be represented to you as NFT<\/p>\n\n\n\n

the NFT would be launched\nreal soon after our product launch<\/p>\n\n\n\n

You gonna see all the sisters, lol<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> Satoshi Clubbers will be happy to\nmeet all of them ❤️<\/p>\n\n\n\n

liana:<\/strong>\nYeah, sure, and the NFT token is actually playable<\/p>\n\n\n\n

Talking about artists, we\nhappened to have an artist on the team, and we’ve already planned this thing\nfor a month, there will be Sisters Series Buff\/Debuff cards incoming. Soon we\nwill deliver a very interesting series of NFT tokens that were just issued by\nus, which will correspond to individual matching-pair tokens(ETH, SUSHI, etc),\nand having our Sisters(SIL comes from Sister in Law) series to represent the\ncard faces.<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> we have a question about your NFTs, but\nit’s the last one, so we can talk about NFTs a bit later 😉<\/p>\n\n\n\n

liana:<\/strong>  cool <\/p>\n\n\n\n

let me hold on for a\nminute, lol<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> haha 😄<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> [ 👍 Sticker ]<\/p>\n\n\n\n

liana:<\/strong>\nYeah, let’s go with the next question<\/p>\n\n\n\n

D. | Satoshi Club:<\/strong> thank you for the answer! now we know the origins of your project’s name 😇<\/p>\n\n\n\n

Q2 from Telegram\nUser @h1drX<\/em><\/strong><\/p>\n\n\n\n

When YearnFinance emerged\nit revolutionized the liquidity pools, through vaults, being a much more\ncomplex protocol, now, SIL Finance will revolutionize the simple vaults of\nYearnFinance, through dual vaults being a very new protocol and in beta phase.\nWhat exactly are the investment options available to investors who fund the\ndual vault? What are the advantages over YearnFinance simple vaults?<\/strong><\/p>\n\n\n\n

liana:<\/strong>\nWe love YFI but we have very different mining models<\/p>\n\n\n\n

The SIL is actually built\non UniSwap and SushiSwap right now, and will compat other future pools in the\nfuture if we need to<\/p>\n\n\n\n

The SIL bring\nsingle-sided mining pool to the mass, which is also very different from Bancor\nv2.1’s BNT and Andre Cronje’s SIL<\/p>\n\n\n\n

Andre Cronje\u2019s SushiSwap\nV2 Single Sided Exposure and Impermanent Loss mitigation actually<\/p>\n\n\n\n

From the SIL team\u2019s view,\nthere is a big difference among them, which is that SIL is not a match taker in\nthe mining pool. In BNT\u2019s example, ETH\/BNT is a synthetic pair, since it\u2019s not\nevery day\u2019s requirement, people trade on ETH\/BNT pair mostly when they want to\nmitigate the Impermanent Loss. and the BNT is minted drastically depends on how\nmuch ETH user put into, it\u2019s a dynamic balance, maybe too dynamic. The\ncirculation of BNT is very hard to manage and calculate.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> Which model would you recommend to\nme as your sister-in-law 😁😁😁<\/p>\n\n\n\n

liana:<\/strong>\nThe SIL won\u2019t be the match taker, means SIL is generated from regular trading\npairs like ETH\/USDT, which is a daily normal needs, we build our Impermanent\nLoss mitigation solution on top of the original AMM protocol, not on an elastic\ncirculating model. We think then the SIL token will be more stable and\nmanageable by all users including the development team.<\/p>\n\n\n\n

I recommend you can try\nout our IL mitigation mode with single side of token, and own compound\ninterests and SIL<\/p>\n\n\n\n

SIL Vault Liquidity\nMining profits include:<\/p>\n\n\n\n

1. Commission on\nunderlying swapping fees<\/p>\n\n\n\n

2. Correspondent LP\nstacking gain (transitive, will sell automatically by SIL Finance for principal\nroll-up)<\/p>\n\n\n\n

3. SIL tokens generated\nfrom single-side pairing During mining, 0.5 percent of (principal + profit)\nwill be subtracted to purchase SIL, which will then re-enter the minting pool.\nSIL token itself is also a community governance voting tool. SIL is initiated\nby the community and for the community.<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> so people will able to get your token\nthrough farming? what will be the model of distribution?<\/p>\n\n\n\n

liana:<\/strong>\nThat’s correct, the token will be minted out near-linear fashion in total 6\nmonths<\/p>\n\n\n\n

every pool has a weight\nof the total production of SIL<\/p>\n\n\n\n

currently we only have 1x\npools, later we would had multi-x pool like SIL\/USDT, stay tuned<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> nice! will your farming pools also have\nsome creative names? like ‘stepbro’ pool etc?😁<\/p>\n\n\n\n

liana:<\/strong>\nVery nice advice, yeah, we didn’t thought about it, actually we could implement\nit<\/p>\n\n\n\n

Now we have pool names\ncorresponding to the LP type and assets types<\/p>\n\n\n\n

Now I think that’s quite\nboring already<\/p>\n\n\n\n

D.\n| Satoshi Club: <\/strong>im glad to help 😇<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Satoshi Club is always a brainstorm😁🚀<\/p>\n\n\n\n

liana:<\/strong>  👌<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> thank you for detailed answers! let’s\nproceed to the next question?<\/p>\n\n\n\n

liana:<\/strong> sure<\/p>\n\n\n\n

Q3 from Telegram user\u00a0\u00a0@meml97<\/em><\/strong><\/p>\n\n\n\n

I read on your medium\narticle about SIL Finance, that one of the features your ecosystem have, is\nsomething called \u201cMatryoshka Mechanism\u201d, which you said is based on the LP\nmatching mechanism. Can you tell us more about this feature and why is it\ncalled that way? Because, as far as I know a Matryoshka is a russian doll that\nis hollow and can have other dolls inside with the same characteristic. So, on\nwhat will this Mechanism be similar to this russian doll?<\/strong><\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> Nice one 😉<\/p>\n\n\n\n

liana:<\/strong>\nIt means chain of embedding, which in SIL is translated to chain of profits<\/p>\n\n\n\n

let’s revisit the profit\nlist again<\/p>\n\n\n\n

SIL Vault Liquidity Mining profits include:<\/p>\n\n\n\n

1. Commission on\nunderlying swapping fees<\/p>\n\n\n\n

2. Correspondent LP\nstacking gain (transitive, will sell automatically by SIL Finance for principal\nroll-up)<\/p>\n\n\n\n

3. SIL token gain<\/p>\n\n\n\n

You see, users get chains\nof profits, way more than just providing liquidity on the Uni or Sushi directly<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> Please share your tokenomics with us\nby the way 😊<\/p>\n\n\n\n

liana:<\/strong>\nConsider SIL as smooth alternative to underlying pools<\/p>\n\n\n\n

The community will share\n68% percentage of the total tokens from directly mining, that will be a lot<\/p>\n\n\n\n

15% is allocated to\nGovernance Treasury, which would help to cover emergency situations when\nsomething really unexpected happens<\/p>\n\n\n\n

D. | Satoshi Club:<\/strong> <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

liana:<\/strong> The\nSIL dev team share 17% of total tokens, since SIL have various institutional\npartners and strategic partners,  some of\nour shares where used to working them on some incoming events<\/p>\n\n\n\n

We just have plans that\nwe would be on Dora Factory’s bonding curve<\/p>\n\n\n\n

check it out when time is right<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> Thank you very much for the\ninformation!<\/p>\n\n\n\n

liana:<\/strong>\nSIL tokens generated from single-side pairing During mining, 0.5 percent of\n(principal + profit) will be subtracted to purchase SIL, which will then\nre-enter the minting pool. SIL token itself is also a community governance\nvoting tool. SIL is initiated by the community and for the community.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> We are looking forward to news🚀<\/p>\n\n\n\n

liana:<\/strong> Thank you<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> Ready to proceed to the next\nquestion?<\/p>\n\n\n\n

liana:<\/strong>\nlet’s proceed<\/p>\n\n\n\n

D. | Satoshi Club:<\/strong> let’s do this! 🚀<\/p>\n\n\n\n

Q4 from Telegram\nuser @mctrho<\/em><\/strong><\/p>\n\n\n\n

SIL Finance is a very new\nproject that is currently in beta phase, in fact, on the SIL Finance web\nplatform there is a warning of this. Suppose I decide to make an investment\ntoday, is it possible that I could lose the invested funds? What do I risk when\nusing SIL Finance in beta?<\/strong><\/p>\n\n\n\n

liana:<\/strong>\nIn beta means our innovation hasn’t stop after launch, there still so many\nthings to do<\/p>\n\n\n\n

at the launch, we\nintended to only launch the Normal Mode mentioned above<\/p>\n\n\n\n

In this mode, each side\nof assets will bear there own profit\/loss and there will be no Impermanent Loss\nMitigation<\/p>\n\n\n\n

Users most fully aware\nhow Impermanent Loss works before trying to put funds into the pool<\/p>\n\n\n\n

Which means, if you put\none side of asset into a pool, if the price fluctuate dramatically, and if you\nare token-count minded(token holders), you may experience token loss when you\nwithdraw<\/p>\n\n\n\n

But if you are fiat-value\nminded, that’s would be fine<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> when do you planning to go out of beta\nversion?<\/p>\n\n\n\n

liana:<\/strong>\nwhen IL mitigation and NFT launched<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> You must admit that in our time,\nsecurity is a very important issue. what measures have you already foreseen and\nare planning? and did you audit smart contracts? if so, are you ready to share\nwith us 😉<\/p>\n\n\n\n

liana:<\/strong>\nYes, cybersecurity and crypto-security always happens in the crypto space, we\ndid lots of smart contract security talks with auditing firms(slowMist and\nCertik), and simulate various possible security breaches and did various\nguarding gates and algorithms to prevent possible events like impersonation,\nflash-loan attacks, MITM attacks, and we do not allow random contract to call\nour contract directly.<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> do you have any refund system for users,\nin case of hack or any other attack?<\/p>\n\n\n\n

liana:<\/strong>\nThe SlowMist audit was conducted at Jan this year<\/p>\n\n\n\n

The Certik audit is\ncurrently in process<\/p>\n\n\n\n

Also, Sil.Finance smart\ncontract will allocate 15% of tokens as Governance Treasury, which would help\nto cover emergency situations when something really unexpected happens.<\/p>\n\n\n\n

And we have some\nemergency handles that could help us to pause the contract immediately<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> gotcha 👍<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> Thank you very much for taking care\nof your members. And also that you share this information with us!👍<\/p>\n\n\n\n

liana:<\/strong>\nBut the process will require our multi-sign wallet to initiate<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> Ready to the next question 😉<\/p>\n\n\n\n

liana:<\/strong>\nThe SlowMist audit id is: 0X002101050003 , feel free to check it out on their\nwebsite<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong>👍<\/p>\n\n\n\n

liana:<\/strong> ready<\/p>\n\n\n\n

Q5 from Telegram\nuser @Brainchest<\/em><\/strong><\/p>\n\n\n\n

I read in a white paper\nthat you plan to start using Pay Pal or Matrix Port in DeFi. Tell me what\napplication scenarios you see? Agree, there are already too many farming pools\nthat offer to farm in the same way, so innovative, slightly crazy ideas are needed.\nBuying crypto for farming in Silo finance using PayPal, or maybe you make an\ninnovative pool of Ether\\ Dollars in a PayPal account?<\/strong><\/p>\n\n\n\n

liana:<\/strong>\nThat’s a analogy<\/p>\n\n\n\n

to the Paypal or Matrix\nPort<\/p>\n\n\n\n

That means we want be the\nentry to funds management in the DeFi space<\/p>\n\n\n\n

we have crazy ideas, the\nNFT part<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> so you don’t plan to work with PayPal?😄<\/p>\n\n\n\n

liana:<\/strong>\nwe have innovative ideas, the IL mitigation method<\/p>\n\n\n\n

Yeah I think we could try<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> imagine pool – ETH\/PayPal 😁<\/p>\n\n\n\n

liana:<\/strong>\nThat would be something real innovative, maybe SEC wanna talk to us then<\/p>\n\n\n\n

ETH\/PAPL, wow<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> yep, that would be for sure, an\ninnovative idea 😁<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> I want to ask a question not a topic\n😁 Like real SIL.\nWe’ve already figured out that you care about your community. Tell us a bit\nabout the airdrop and distribution system. I saw on your twitter it works.<\/p>\n\n\n\n

liana:<\/strong>\nThe payment system need something that doesn’t fluctuate too much<\/p>\n\n\n\n

The airdrop, yes that’s\nincoming, and there will be SIL NFT airdrop too<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> how can we join?<\/p>\n\n\n\n

liana:<\/strong>\nwhat distribution system you mentioned<\/p>\n\n\n\n

it will be rolled out,\nbut we can’t tell yet, we try to surprise users<\/p>\n\n\n\n

not to share how it works\nat this time<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Look forward to😊🚀<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> awesome! and now we can talk about NFTs 😇<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> I have one more question sorry😁<\/p>\n\n\n\n

liana:<\/strong>\nyeah right<\/p>\n\n\n\n

carry on<\/p>\n\n\n\n

liana:<\/strong>\nlet me scroll it up<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Tell us about this\nexciting event, it will be very soon🚀🚀🚀<\/p>\n\n\n\n

liana:<\/strong>\nyeah, right, the contract will be open for deposit in 51 mins later, wow, I’m\nexcited<\/p>\n\n\n\n

which means the mining\nwill be open in 51 mins<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> We share your excitement! 😁🚀🚀🚀And\nwe wish you good luck!<\/p>\n\n\n\n

liana:<\/strong>\nthank you~<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Ready for the next question or want\nto add something?😊<\/p>\n\n\n\n

liana:<\/strong>\nJust be fully aware how IL works before consider entry, it’s really really\nimportant, and matters to you, that’s what I have to remind every user that\nwant to try our your first axe<\/p>\n\n\n\n

Just be fully aware how\nIL works before consider entry, it’s really really important, and matters to\nyou, that’s what I have to remind every user that want to try our your first\naxe<\/p>\n\n\n\n

Just be fully aware how\nIL works before consider entry, it’s really really important, and matters to\nyou, that’s what I have to remind every user that want to try our your first\naxe<\/p>\n\n\n\n

3 times, to make it\nimportant<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> Thanks ☺️👍<\/p>\n\n\n\n

@Cool_as_Ice shoot please🚀🚀🚀<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> now everyone should be aware of 😁<\/p>\n\n\n\n

Q6 from Telegram\nuser @yellowchamp<\/em><\/strong><\/p>\n\n\n\n

SIL.Finance (Sister in\nLaw) is a crypto project that is introducing a smart contract-based pairing\nengine that will provide two additional revenue streams for liquidity\nproviders.Thus, in your twitter account you posted that SIL Finance NFTs will\nbe out soon. So can you give us a brief overview regarding the other venture of\nyour platform which is the NFT? As far as I know many platforms nowadays are\nalso taking NFT in their platform, so what is the unique idea or features that\nSIL Finance NFT will offer in the market? Do you plan to build your own NFT\nMarketplace for SIL Finance in the future? Thank you<\/strong><\/p>\n\n\n\n

liana:<\/strong>\nWe have an artist on the team, and we’ve already planned this thing for a\nmonth, there will be Sisters Series Buff\/Debuff cards incoming. Soon we will\ndeliver a very interesting series of NFT tokens that were just issued by us,\nwhich will correspond to individual matching-pair tokens(ETH, SUSHI, etc), and\nhaving our Sisters(SIL comes from Sister in Law) series to represent the card\nfaces.<\/p>\n\n\n\n

We call them Buff \/\nDebuff cards since if you hold them in your wallet and deposit into mining\npools, it will effectively adjust the mining speed for yourself or someone else\nthat you specified the address in the UI, if it’s a Debuff card.<\/p>\n\n\n\n

If you have played the\nMario Kart, you may remember planting bananas on the track in order to slow\ndown other players if they happened to step on the bananas. The SIL NFT Debuff\ncards are quite like that, just be caution don\u2019t use Debuff cards on yourself,\nlol.<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> wow, this is nice, so your NFTs will be\nnot just a collectibles 👍<\/p>\n\n\n\n

liana:<\/strong>\nThere will be pool cards, token wildcard cards, and maybe even the legendary\nVitalik card which will apply to all ETH mining pools<\/p>\n\n\n\n

collectible +\naccel\/retard on SIL token production<\/p>\n\n\n\n

you have NFTs, you are\nunique in the Sil.Finance App<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong>Are there any ready-made NFTs? can\nyou show us something today?🙏<\/p>\n\n\n\n

liana:<\/strong>\nyou mean you want our artist’s draft?<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> if possible🙈<\/p>\n\n\n\n

liana:<\/strong>\nI guess I could share one, maybe<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> It would be very interesting😁<\/p>\n\n\n\n

liana:<\/strong> <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> Wow! This is really unreal cool👍<\/p>\n\n\n\n

liana:<\/strong>\nmaybe too bizarre?<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> cyberpunk-ish<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> I like it very much❤️<\/p>\n\n\n\n

liana:<\/strong>\nOur artist have some strange love maybe, I don’t know..<\/p>\n\n\n\n

glad you like it<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club:<\/strong> Thank you very much for your\nanswers! Ready for a storm of questions? It will be unforgettable! I promise! 😁<\/p>\n\n\n\n

liana:<\/strong>\nglad you like it too<\/p>\n\n\n\n

D. | Satoshi Club:<\/strong> @lianana we will open chat for 2 minutes, after chat will be closed – you can start select questions from Satoshi \u0421lub members! 😉<\/p>\n\n\n\n

liana:<\/strong> Yeah, let me feel it<\/p>\n\n\n\n

Part 2 \u2014 live questions from the Telegram community<\/strong><\/h2>\n\n\n\n

Q1 from Telegram user @Kushal85127939<\/em><\/strong><\/p>\n\n\n\n

Hello @lianana<\/strong><\/p>\n\n\n\n

Could you please give us an overview of\nyour roadmap? Which events you think will give boost to SIL finance?<\/strong><\/p>\n\n\n\n

Liana: <\/strong>Starting at the\nbeginning of S4 of 2020, the SIL project begins with a first line of code of\nsingle-sided mining-making, and at the mid of S4, testnet is alive. At end of\nS4, the Impermanent Loss mitigation mode is ready,  the first security audience is conducted by\nSlowMist, recruited seed users to test drive the product, also the community\nbootstrap, marketing bootstrap, and ready for launch. Since S1 of 2021, we find\nthat the existing solution for mining-making is not very cost effective(gas\nfees), so we did way more emulations of transactions, including implementing\nmore security practices, and improved the codes way more than we would have\nimagined.<\/p>\n\n\n\n

On the road ahead, Integrated DeFi loan settlement,\nDeFi+CeFi arbitrage strategy, L2 Integration, CompDelegator that mixes user\u2019s\nassets for the larger profits, so many aspects to be considered and\nimplemented.<\/p>\n\n\n\n

Q2 from Telegram user @AmirJosh<\/em><\/strong><\/p>\n\n\n\n

Can you explain how the partnership of\nSil_Finance and the famous cryptocurrency wallet provider imToken brings\ninnovation to DeFi 2.0 and the next era of digital lending? Are you\ncollaborating on building new product or lending platform with imToken?<\/strong><\/p>\n\n\n\n

Liana: <\/strong>Yes we’ve been\npartnered with Imtoken already, they officially support our token and DeFi\nentrence, no lending yet<\/p>\n\n\n\n

Q3 from Telegram user @RosemaryBianco<\/em><\/strong><\/p>\n\n\n\n

Did you really like the AMA at Satoshi\nclub?<\/strong><\/p>\n\n\n\n

Liana: <\/strong>Yeah, I really\nlike it, so vivid and so amazing<\/p>\n\n\n\n

Q4 \nfrom Telegram user @Xusuo<\/em><\/strong><\/p>\n\n\n\n

On your medium there is notes SIL Finance\nA revolutionary #DeFi project that fills the gap of #YFI & #YFII. Could u\nplease explain what are the gap ? and what are your team already contribute to\nDEFI world from SIL Finance project?<\/strong><\/p>\n\n\n\n

Liana: <\/strong><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The gaps<\/p>\n\n\n\n

Q5 from Telegram user @My1queen<\/em><\/strong><\/p>\n\n\n\n

I read about SIL platform that allows\nrevenue generated from mining to be distributed to user\u2019s in proportion. what\ndoes this mean. Will certain categories users get different % of this revenue.<\/strong><\/p>\n\n\n\n

@lianana<\/strong><\/p>\n\n\n\n

Liana: <\/strong>That means how\nmuch token you put into the pool, how much you will share the minted SIL, the\nshare of minted out SIL is based on your assets poportion<\/p>\n\n\n\n

Q6 from Telegram user @JuanSB07<\/em><\/strong><\/p>\n\n\n\n

How does Sil Finance plan to expand and\nattract more people to your project? Do you have a marketing strategy?<\/strong><\/p>\n\n\n\n

Liana: <\/strong>The Sil.Finance\nproduct faces global users equally while supporting various languages, the\ncommunity already have English, Chinese and Vietnamese versions, there will be\nmore incoming. Eventually SIL wants to be the ultimate entrance for token\nmining for every users in the DeFi space regardless of experiences.<\/p>\n\n\n\n

Q7 from Telegram user @Izamg<\/em><\/strong><\/p>\n\n\n\n

I read that SIL Finance not only gives\nflexibility when providing assets, but also is able to take the LP tokens\nearned and stake them in another protocol based on the user’s interest. Can you\nexplain more about this feature? Are those other protocols selected by SIL\nFinance or the user? @lianana<\/strong><\/p>\n\n\n\n

Liana: \n<\/strong>Yes, we may select more pools with great profits, but\nwe have voting systems. it will be totally governed by written rules.\nSil.finance ecosystem is made up of voting proposals from SIL token holders. If\nthe proposal passes the requirement of quorum (1 % staking tokens at governance\nstructure), and also wins the majority of support (50 % of the votes), and the\ntotal staking of winning party should exceed 4 % of the total supply, then it\ncan be executed with a 6-person multi-signature wallet. Any revision must have\napprovals from at least 4 out of 6 wallet signatures. These signature holders\nwill be voted by SIL holders initially and may be subject to change according\nto future governance voting.<\/p>\n\n\n\n

Q8 \nfrom Telegram user @Shaa93<\/em><\/strong><\/p>\n\n\n\n

I think I will buy SIL! Where I can buy\n$SIL? And update about news of Sil Finance?<\/strong><\/p>\n\n\n\n

Liana: <\/strong>Since all the tokens are minted out, there will be very few sil tokens at early stage, please mine than buy<\/p>\n\n\n\n

Q9 from Telegram user @ronaldo_super<\/em><\/strong><\/p>\n\n\n\n

What is the difference between the\nGovernance Treasury of yours and SAFU from Binance?<\/strong><\/p>\n\n\n\n

Liana: <\/strong>Kind of like the\nSAFU, but it may cover more aspects then just covering the safety issues, like\nfurther project developments or large events or contract upgrades, but we need\nusers to vote in order to use the money in the Governance Treasury<\/p>\n\n\n\n

Q10 from Telegram user @costurera3000<\/em><\/strong><\/p>\n\n\n\n

🟪 If two users who want to\nparticipate in mining to earn interest, but who have different tokens, are\nunited through the SIL LP Grouping to participate jointly, the users will each\nreceive an equal part of interest, or the percentage of interest varies\naccording to the token they provided?<\/strong><\/p>\n\n\n\n

Liana: <\/strong>Depends which side\nyou are on, the share is among that side of the poll, not the total pool, which\nmeans if you have ETH and he have USDT, although you both have equally valued\ntokens, but the ETH side’s share is among the ETH side of the pool<\/p>\n\n\n\n

Part 3 \u2013 Quiz Results<\/strong><\/h2>\n\n\n\n

As\nusual, for the third part, Satoshi Club Team asked the chat 4 questions about\nthe crypto project. A link to a Quiz form was sent into the chat.<\/p>\n\n\n\n

For more\ninformation and future AMAs, join our Social Media channels:<\/strong><\/p>\n\n\n\n

English\nTelegram group: https:\/\/t.me\/Satoshi_club\/<\/a> <\/p>\n\n\n\n

Russian\nTelegram group: https:\/\/t.me\/satoshi_club_ru\/<\/a> <\/p>\n\n\n\n

Spanish\nTelegram group: https:\/\/t.me\/satoshi_club_spanish\/<\/a> <\/p>\n\n\n\n

Telegram\nChannel: https:\/\/t.me\/satoshi_club_channel\/<\/a> <\/p>\n\n\n\n

Twitter:\nhttps:\/\/twitter.com\/realsatoshiclub\/<\/a> <\/p>\n\n\n\n

Website:\nhttps:\/\/esatoshi.club\/<\/a><\/p>\n\n\n\n

Our partners:<\/strong><\/p>\n\n\n\n

SIL Official Site\uff1ahttps:\/\/sil.finance\/<\/a>\n<\/p>\n\n\n\n

SIL telegram\uff1ahttps:\/\/t.me\/sil_finance\/<\/a> <\/p>\n\n\n\n

SIL Twitter\uff1ahttps:\/\/twitter.com\/Sil_Finance\/<\/a>\n<\/p>\n\n\n\n

SIL Discord : https:\/\/discord.gg\/jq7CpjkWUm\/<\/a>\n<\/p>\n\n\n\n

SIL Forum\uff1ahttps:\/\/contact-55283.medium.com\/the-sister-in-law-defi-project-c3c5367a0b2a\/<\/a>\n<\/p>\n","protected":false},"excerpt":{"rendered":"

Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from SIL Finance and our guest was @lianana one of the co-founder of SIL Finance. The AMA took place on 18th March. The AMA session was divided into 3 parts with […]<\/p>\n","protected":false},"author":66,"featured_media":6856,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"_links":{"self":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/7092"}],"collection":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/comments?post=7092"}],"version-history":[{"count":16,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/7092\/revisions"}],"predecessor-version":[{"id":7113,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/7092\/revisions\/7113"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media\/6856"}],"wp:attachment":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media?parent=7092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/categories?post=7092"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/tags?post=7092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}