SIL Reboot Sequence, Phase 2
2 min readMar 22, 2021
Dear users,
Previously on: Phase 1
As of Phase 2:
Firstly, the team wants to clarify the reimburse(funds returning program) boundary.
Every address affected by frontrunning events or not, all will be reimbursed in full, including:
- Losses on addresses withdrawn before SIL master contract was paused
- Funds on addresses stayed in SIL minting pools after SIL master contract was paused
The funds on every participating address will be returned in full to the original address based on the after-image of de-LPs(refer to Phase 1 for how de-LPed assets are calculated), there were minor Impermanent Losses, 1.13% maximum.
Since last post, Reboot Sequence has the following updates:
Funds Returning sequence:
- Collect all users’ remaining funds from SIL pending queues
Currently still stopping at step 4. - Calculate each user’s asset based on after image of de-LPs
The team is currently working on the calculations. - prepare returning program
After calculations are finished(mostly should be within 24 hours from this post, please subscribe to our medium or twitter to receive notifications in time), the team will make an Principal Assets Sheet publicly available for download and review in the next post(will be available for download in landing page of sil.finance and medium).
* Every user please review your asset details carefully, find you address in the sheet and check the numbers.
* If anyone has found that the assets’ token numbers are way different than what we’ve calculated, please contact us at reimburse@sil.finance
* The team will start sending out funds to each original address that w/o complains after 24 hours since next post. - After all funds are sent, the current version of SIL minting contract will be paused until re-launch(no more SIL will be minted in-between).
SIL Migration sequence:
No further updates yet, still stopping at step 4.
There will be upcoming details of the Compensation Program, stay tuned.
Please bear with us, thank you!
SIL.FINANCE team
