Service Outage Announcement

Dear users,

SIL.FINANCE has experienced usage issues during launch at UTC 16:00, March 18, 2021, “deposit/withdraw” function had been suspended after we discovered the situation and immediately paused the SIL Master Contract using 4/6 Multi-Sign dev wallet.

The team has been working closely with SlowMist to conduct a detailed investigation. The root cause of this issue has been basically circled in. Once the problem is confirmed, the SIL team will announce it to the community immediately.

The SIL team will not hesitate to take any measures to ensure the maximum safety of all participants’ funds. In the cases that any user’s assets were compromised during this event, the SIL team has decided to roll out a compensation plan using the team’s own funds:

1. All users who suffered losses in this event will receive 2X compensation for their loss.
2. Compensation will be issued in the form of SIL tokens.
   Since SIL is minted in a near-linear fashion, the compensation cycle will last for 6 months and issued at UTC 00:00 on the 19th of each month. The amount is based on the average price of SIL in the particular month. If the loss amount (snapshot at the time of the event) is equivalent to 1,000 USDT, then the reimbursement is about 166.6 USDT per month, for 6 months, which is 2,000 USDT equivalent of SIL.
3. The execution time of the first compensation is UTC 00:00, 04/19/2021
   SIL team will work with all parties that are reachable to help recover the loss. If the loss is recovered before the “first compensation execution time”, the loss will be returned to the original user and the compensation plan will be terminated. If the loss is recovered after the “first execution time”, the compensation plan will be executed normally, and the recovered amount will be used to repurchase SIL in the market and re-supplied into the total mining pool.
4. The mining profit (SIL) during the paused period of deposit/withdrawal is still valid and belongs to the user.
5. DeFi is under rapid development and faces many challenges at this stage, we apologize for the incident and thank you for participating in the launch.
6. We still need some time to deal with things currently at hand and will come back to the community soon.

Onward and upward,

SIL.FINANCE Team