Gravity Finance Silos v2

Exclusively on Sonic Chain

It is with great pleasure that we are announcing updates to our flagship product Silos, with the launch of Silos v2 exclusively on the new Sonic Chain.

Silos v1 Recap

For those who have not used Silos before, or if you just need need a recap, Silos v1 launched on the Polygon network in April 2023. At the heart of the product, Silos are simply “Automation for DeFi”, however under the hood, Silos are anything but simple.

Due to various changes with the core underlying Automation product (Chainlink Automation), Silos v1 were deprecated in January 2024 and “put on the shelf” pending future core updates.

Silos v2 and Sonic Chain

In mid-2024, it became apparent that the new Sonic Chain would likely be heavily DeFi -centric, and as a new chain we could hopefully get some marketing support for Silos to attract new users, as well as connections to various new, and migrating, DeFi protocols who could benefit from the Automation that Silos offer to their users.

We started planning upgrades to our Silos Core, the automation.

Silos v2 will now use Gelato Functions for automation. Using Gelato has allowed us to make core upgrades to how Silos Gas Tokens are managed in the Silos themselves as well as how the Silo Manager monitors and tops-up gas when required, making Silos functionality and security even better than before!

DeFi Automation with Silos

So what are Silos? As mentioned above, Silos are Automation for DeFi.

Whether you want to provide liquidity to a DEX, DCA into/out of a token position on a schedule, or take a collateralised loan position, Silos is the easiest way to do it.

As a project, we build a variety of different strategies, which are displayed in our catalogue on our dAPP, in plain-English.

You no longer need to go to every single dAPP, read every blog, understand every nuance about each platform in order to use it, with Silos, you deploy the strategies you like the look of, add funds to the deployed Silo, and the rest is handled for you by the Silo pre-coded logic and Gelato Functions.

Non-custodial

Silos are non-custodial. When you deploy a Silo strategy, a smart-contract is deployed on chain for you, you are the owner, and only you can change parameters in the strategy or withdraw funds from the Silo.

Each Silo is pre-programmed by us to do a specific set of tasks, whether that is taking your deposited token(s) and converting to an LP position, or depositing your token as collateral on a lending platform to take a collateralised loan, from the moment you deposit your funds into the Silo, the Silo does all of the hard work for you using Gelato Functions to execute accordingly.

Tasks that previously took 10+ transactions, with approvals, deposits, swaps etc and could take 10–20 minutes to accomplish, can now be completed with a single deposit into your deployed Silo.

It really is as easy as deploying a Silo you like, adding your funds and watching as the Silo bundles everything together to complete all tasks in a matter of seconds and in one automated transaction for you.

Follow us on Twitter and Medium and join our Discord server to be among the first to see announcements and news and take part in DAO discussions.

If you are part of a DeFi project that could benefit from automation for your users please get in contact with us to discuss.

Links

Website: https://gravityfinance.io

Twitter: https://twitter.com/Gravity_Finance (@Gravity_Finance)

Discord: https://discord.gg/gfi