xSIL(SIL Bar) is Officially Deprecated

Hi SILians,

Another quick update today, since SIL can now be freely swapped through PolyNetwork(tutorial), SILBar’s mission has been successfully completed.

As previously discussed, SILBar’s source of revenue comes from 20% of pan-SIL-product principal profits, the profits are equally distributed to all xSIL holders in the SILBar based on SILians’ allocation portion.

Now in a few hours after this post, SILBar will not receive further income any more, but SILians’ funds in SILBar could be withdrawn freely, previously owned SIL in SILBar has been distributed already.

Since deprecation, the 20% pan-SIL-product yield profit will be used to buy back SIL tokens from the market by the team in a timely fashion, then the brought SIL tokens will be stored in a Vault (more details coming soon).

After all the SIL tokens(30000 SIL) are minted, the SIL tokens in the Vault will be released into the SIL master contract and yield mining will be continued.

The SIL.FINANCE bootstrap team