Partnership with Silo Finance

We are thrilled to announce that DIA has partnered with Silo Finance, a cutting-edge lending protocol, to launch lending and borrowing markets for various tokens including GRAIL, ETH, JONES, SPA, PLS and more, powered by DIA oracles.

Partnership with Silo Finance

We are thrilled to announce that Silo Finance has integrated DIA’s price oracles to enable multiple lending market on the Arbitrum blockchain. By integrating DIA’s price oracles, Silo Finance will benefit from customizable and transparent price data, ensuring efficient and secure lending markets.

“We are on a mission to deploy isolated lending markets for all crypto assets. The integration with DIA opens doors for new possibilities, starting with the JONES lending market. We’re excited about the collaboration and looking forward to many DIA-supported lending markets.”
Aiham Silo Finance
Aiham Jaabari
Silo Finance Growth Lead

Introducing Silo Finance

Silo Finance (Arbitrum) is a non-custodial lending protocol that facilitates borrowing any crypto asset with another. By employing an isolated-pool approach, Silo Finance creates permissionless and risk-isolated lending markets.

Every token asset has its own market and is paired against bridge assets ETH and USDC. This unique approach ensures lenders are only exposed to the risk of ETH and USDC, while also preventing fractured liquidity and allowing for greater protocol efficiency by confining tokens to only one market.

Securing Lending Markets with Price Oracles

Oracles play a crucial role in lending and borrowing dApps, providing the protocols with real-time price information of digital assets. These price feeds enable lending features such as determining the market value of collateral or loans, enforcing over-collateralization rules to protect lenders and more. For every lending market Silo launches, a price feed oracle is required.

As a risk-geared protocol, the Silo community has put its trust in DIA’s transparent price oracles to launch the new lending market. Furthermore, the integration was subject to a governance vote and the Silo community voted overwhelmingly in favour of this development, with 99% of the votes supporting the proposal. View the vote results here.

Silo Integration with DIA oracles architecture

Powering Lending Markets on Arbitrum

In order to power new lending markets, DIA built a dedicated price oracle for Silo. The oracle was deployed on the Arbitrum network and contains  price feeds for the tokens ETH, JONES, GRAIL, rDPX, SILO, PLS, SPA. DIA constructs this price feed by sourcing granular, trade data coming from multiple 90+ DEXs and CEXs such as BKEX, MEXC and DEXs Camelot, Uniswap and more.

As requested by Silo, the trade information is aggregated with a 120-second time window and processed using the Moving Average Price with Interquartile Range (MAIR) methodology. The feeds’ specifications have were laid out and made available via the following Custom Delivery Request: CDR #042: Silo Finance | Price Feeds on Arbitrum

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