The lending agreement Silo is launched on the OP mainnet, with a plan to allocate 100,000 OP to the initial market in the first phase

ChainCatcher news, the decentralized lending protocol Silo has announced its launch on the OP mainnet. Utilizing a deposit of $1.3 million, Silo Optimism will begin its first OP distribution across 9 markets, namely OP, wstETH, wBTC, tBTC, rETH, strxeth, VELO, sUSD, and SNX, allowing users to deposit in any market to borrow ETH and USDC.

In the first phase, 100,000 OP will be allocated to the initial markets. Over the next 60 days, the official team will introduce a series of new markets and optimize incentive distribution based on protocol revenue metrics.

The remaining 150,000 OP will be allocated in the second phase, during which rewards may be rebalanced based on historical activity. New markets will also be launched and may be included in the incentive categories.