Gravity Finance Introduced, Silos
Gravity Finance is excited to finally announce its new DeFi product that they have been developing for over 6 months. This new product is called ‘Silos’. Silos are the next evolution of DeFi.
At its core, Silos are a new DeFi tool that allows users to create personalised and fully automated DeFi tasks in seconds. Users can select from our catalogue of predefined strategies and deploy their very own smart contracts based on the settings they choose, and all with no coding experience required.
Silos are monitored on each block (every 2 seconds on Polygon) by ChainLink Keepers (bots) and the predefined strategy is executed if required. The actual execution is determined by either the user’s chosen schedule and/or automatically for tasks that require certain criteria to be met.
The available strategies will vary in their capabilities and the catalogue or predefined strategies will grow over time as new opportunities become available in the DeFi space. Some strategies will offer advanced yield farming opportunities while others will offer more modest operations such as converting income to one or more other tokens (dollar cost averaging for example).
If a strategy generates income, the proceeds are handled according to the settings that the user has chosen. Funds can be proportionally reinvested back into the strategy, sent to another Silo or even transferred to another address or Protocol of their choice.
Allowing Silos to send funds between each other (and other addresses) allows the owner to mix and match strategies as they choose, fully customizing and automating their DeFi life.
For more details and complete information how Silos works, this link might help a lot to get started.
ABOUT Gravity Finance
Gravity Finance is a DeFi platform deployed on the Polygon Network and currently offers swap exchange, farms, yield optimizing vaults, and launchpad.
