SINGAPORE / ACCESSWIRE / March 11, 2021 / SIL.Finance (Sister in Law), a second-generation DeFi smart financial management platform, has announced a $1.3 million private round of financing. The round was jointly led by Axia8 Ventures and Krypital Group, with participation from Genesis Block Ventures, Everest Ventures Group, Lotus Capital, Cabin VC, and AU21. The remaining investors include major influencers in the crypto space, such as Boxmining and LilMoonLambo. Funds will be used to finance the SIL.Finance platform, that addresses some of DeFi's most critical risks and aims to take DeFi into the mainstream.

Arguably one of the biggest risks currently involved in DeFi mining is impermanent loss, a common risk when providing liquidity to any Automated Market Maker (AMM) exchange. SIL.Finance addresses this problem by using a single-sided exposure LP vault, eliminating the need for users to deposit two coins in providing liquidity.

With SIL's single-token approach, DeFi miners deposit funds in exchange for tokens. These tokens can be staked in an eligible pool and serve as one-sided liquidity. A smart contract-powered matching system ensures that each pool's liquidity balance is maintained by matching liquidity providers with other users who have the opposite asset. Liquidity providers (LP) will then earn a profit from LP transaction fees and LP stakes from mining, swaps, and reforming LPs. Other than addressing the issue of impermanent loss, SIL.Finance's automatic LP grouping also enables users to claim their profits from the smart contract at all times. Moreover, the system will automatically stake users' newly claimed profits, which can compound their interest by converting rewards into new LP assets.

Vincent Gu, Co-founder of SIL finance, added,
"We simplify liquidity mining. SIL.Finance automatically selects and configures products that best suit the interests of users according to factors such as annualized rate of return, safety factor, financial management cycle, etc. On top of that, SIL.Finance also takes on the risks that are usually involved with liquidity mining. Liquidity providers are matched automatically to create a liquidity pool through a P2P dual-mining model. This means users no longer have to gamble on two speculative assets to provide liquidity, which directly addresses the impermanent loss issue. Lastly, we are fair and just. The revenue of mining will be proportionally distributed to all users, as there are no intermediary or principal commission fees. The platform is jointly built by crypto enthusiasts from all over the world, and the management of the platform is entrusted to all SIL holders."

The number of DeFi users and the Total Value Locked in DeFi mining solutions is increasing by the day. Already, users of popular exchanges such as Uniswap and Sushiswap contribute billions of dollars in liquidity mining. Yet, the emergence of many poorly audited AMMs and the risk of impermanent loss means DeFi mining solutions are still primarily used by a select few crypto enthusiasts who are willing to take big risks. SIL.Finance wants to take DeFi mining into the mainstream by fundamentally reforming how it is done, making liquidity mining accessible to more risk-averse and less tech-savvy cryptocurrency consumers who want to earn a passive income.

For more information, please visit the official website.

About SIL.Finance

SIL.Finance (Sister in Law) is a decentralized diversified financial management platform based on smart contracts. It will continue to optimize pain points and improve efficiency for DeFi users' financial needs. The sister-in-law is a strategic financial tool. In addition to allowing individuals to participate in arbitrage in the DeFi market, compared with other machine gun pools, the sister-in-law will have and precipitate real liquidity. At the same time, the speculative benefits of its financial derivatives will help users in diversified planning, investment and financial management.

Contact:
Telegram: @alexcrypto1234
Email: alex@sil.finance
Official Website: https://sil.finance

SOURCE: SIL.Finance

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