Silo Finance [OLD]Price

(SILO)

The "OLD" designation indicates the original token contract has been deprecated in favor of Silo v2. Migration is necessary for users who want to participate in the updated ecosystem, including governance voting and receiving protocol rewards. The legacy token no longer holds utility within the protocol's current framework. By migrating, holders gain access to new features like the Sonic Rewards Program and xSILO staking, ensuring their tokens remain functional as the project evolves.

Users holding old SILO tokens on networks such as Arbitrum, Base, or Optimism must first bridge them back to the Ethereum Mainnet. Once the tokens are on Ethereum, holders should use the official Silo Finance migration portal to convert them. While the migration contract typically remains open, it is advised to migrate early, as protocol incentives and emissions have transitioned entirely to the v2 system, meaning old tokens no longer accrue value from protocol growth.

No, user deposits remained safe during the June 2025 incident. The exploit targeted a peripheral test contract associated with an unreleased leverage feature, resulting in a loss of approximately $545,000 in DAO test funds. The core lending markets and vaults were not compromised. As a safety measure, the team recommended that users revoke any approvals previously granted to experimental or "leverage" contracts using standard blockchain security tools to ensure ongoing wallet safety.

In the v2 ecosystem, xSILO represents the staked version of the token, allowing holders to earn a share of protocol fees through auto-compounding. The protocol also utilizes veSILO (voter-escrowed SILO) for its gauge system. This model allows users to vote on where token emissions should be directed among different lending silos. This structure is designed to incentivize long-term liquidity and empower the community to manage how rewards are distributed across the platform's various markets.

Users should be aware of a confirmed phishing scam claiming a $50k airdrop on the TON network; Silo Finance does not have an official integration or airdrop on TON. To avoid scams, always use official links. The official New SILO v2 contract on Ethereum is 0xF0B2dd79324A66d2108C961d680F7616E1486bB0, while the legacy Old SILO address is 0x6f80310ca7f2c654691d1383149fa1a57d8ab1f8. Always verify addresses through official documentation before performing any transactions.

Silo uses an isolated risk model where each asset has its own "silo," preventing a single compromised asset from affecting the entire protocol. This differs from traditional lending platforms where all assets share systemic risk. To enable liquidity between these separate silos, the protocol uses "bridge assets" like ETH or USDC. These assets connect the isolated markets, allowing users to lend or borrow diverse tokens efficiently while maintaining a high level of security for the overall platform.