SIL Reboot Sequence, Phase 3

Dear users,

Previous update: Phase 2, Balance Sheet Public Review

Thank you for being patient with us as we are dealing with a security issue. We are happy to say that we can now safely enter Phase 3.

After another around of calculations, now the team is going to start the process of sending out users’ funds in sequential orders where were listed in the Balance Sheet, minus some users’ assets that are in the pending queue which still need another 24 hours to clear security primitives.

Please double check incoming transactions on your address in the coming hours (all reimburse transactions will be send from 0x5d8c193cf2d87bf8cbb3455a54de15cb2f77d424).

Thank you everyone for participating in the launch event of SIL.FINANCE, we hope you’ll soon receive your funds safely. We will send out remaining funds that are still in the pending queue within 28 hours of this post. The SIL mining contract will then be paused after all funds are sent out.

Here’s a brief review of the Funds Returning Sequence.

1. Collect users’ remaining funds from SIL pending queues
   Still need another 24 hours to clear security primitives.
2. Calculate each user’s asset based on the after image of de-LPs
   Done.
3. Prepare a returning program
   Most user’s funds are going to be sent. The remaining will be sent within 28 hours after this post.

Let’s take another review of SIL Migration Sequence [1. Stop SIL master mining contract]:

• Wait 24 hours for a public audit
  We are currently at this point.
• Initiate another multi-sig transaction, to confirm the 2nd step
  Next step in this process.
• Stop SIL minting.
  This step will be initiated when all users’ funds are returned.

Compensation Plan:

After several rounds of internal discussions, we will roll out a Compensation Plan that will not only compensate the users but also help the SIL project in the long run.

Some of our users may recall that the SIL team has revealed a NFT program on previous AMA events, here is how it will work:

• There will be a series of stacks containing NFT cards that will be issued by the SIL team with artist @Eva. Each will have a property to boost mining speed for the matching asset (Buff/Debuff cards). E.g.:
  Ether card with Vitalik on the cover, a legendary class of SIL NFT’s which will boost all ETH related pairs. If you get a copy, you can inject this card into a mining pool (works when ETH is on either side of A/B assets, like ETH/USDT), and your SIL mining rate will be multiplied by the multiplying factor on the card.
• The multiplying factor of NFT cards works like so:
  If the multiplying factor is 1.1x, the yield of SIL will be multiplied by 110%, which means that if you deposit USDT in the pool for 1 week and yield 1 SIL, the NFT card will raise the yield to 1.1 SIL.
• There will also be debuff cards, in which case the multiplying factor will be less than 1. You could cast the card’s effect onto any address, which would be fun.
• Cards can be stacked, but there will be upper limits.
• The details of how SIL NFT works will be disclosed soon, but the team will make sure every early adopter on the Balance Sheet will get a copy of a randomly picked NFT card, with a multiplying factor ranging from 1.1x to 1.2x for free. Early adopters will receive NFT cards at the first time when SIL NFT launches, stay tuned.

Please bear with us, thank you!

SIL.FINANCE Team