Imagine a super cool online bank where anyone can lend and borrow money using cryptocurrency! That's kind of what Silo is. They just launched a big upgrade (V2) on a fast network called Sonic. It's safer and easier to use than before.
- Silo lets people lend and borrow different cryptocurrencies.
- It's decentralized, meaning no single person controls it.
- The new version (V2) is more secure and easier to use.
- Anyone can create a lending market, making it more flexible.
| Fact | Number |
|---|---|
| Money locked in Silo V2 | $400 million |
| Number of markets in Silo V1 | 50+ |
Silo V2 is expected to expand to other networks soon, like Ethereum. This could make borrowing and lending crypto even more popular!
