sil
Mobile app development.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | $1.3m | Early VC | |
| Total Funding | 000k | ||
SIL Finance, also known as Sister in Law, operates as a decentralized finance (DeFi) platform constructed entirely on smart contract technology. Launched in 2020, the platform functions as a single-sided yield aggregator and a decentralized Liquidity Pool (LP) composer. The project was established by a global group of crypto enthusiasts, with governance and management entrusted to holders of the SIL token.
The core of SIL Finance's business is to simplify complex liquidity mining processes for DeFi participants. It serves cryptocurrency investors and traders by enabling them to provide liquidity for dual-token pools even if they only hold one of the required tokens. The platform's smart contracts automatically match users with complementary assets, pooling their funds to engage in yield farming. This LP grouping mechanism allows participants to share in the mining rewards proportionally without the need to acquire the second asset, thereby halving the principal risk for each user.
Revenue for participants is generated from mining rewards, with the platform protocol distributing them proportionately among users without taking intermediary or principal commission fees. The business model was designed to be community-focused, with the team's potential profit tied to their own vested share of SIL tokens after a year of operation, meaning users retain all initial profits. The platform's native token, SIL, was launched on the BNB Smart Chain (BEP20) and also functions on the Ethereum blockchain. Key products include Yield Farming, which automates LP matching and compound interest, and Hedge Farming, a tool for risk management that allows traders to offset potential investment losses. SIL Finance also integrates non-fungible tokens (NFTs) that can be used to boost mining efficiency. However, according to PitchBook, the company is listed as 'Out of Business' as of April 2024.
Keywords: SIL Finance, Sister in Law, decentralized finance, DeFi, yield aggregator, liquidity pool composer, single-sided liquidity, yield farming, LP matching, crypto hedging, smart contracts, decentralized governance, BEP20, ERC-721, NFT farming, impermanent loss mitigation, automated market maker, crypto aggregator, liquidity harvesting, financial management platform