UwU x Silo

3 min readDec 1, 2023

Greetings, UwU Kitties!

Want to borrow against your UwU tokens? Great news! Our friends at Silo Finance now support UwU! If you want to take advantage of this opportunity, head on over to Silo!

How to Deposit

Step One:

To start using your UwU tokens on Silo, open the website and connect your wallet.

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Make sure you are connected to the “Llama Edition” as shown here to access the UwU market.

Connect your wallet at the top right of the screen and check off each item after reading each carefully for understanding.

Step Two:

Scroll down the market list to find the UwU market here and click on it.

Step Three:

The “Deposit” tab is selected by default. Enter the amount you wish to deposit (or select “infinite”) and execute the approval transaction in your wallet. Approvals are, simply put, giving the smart contracts permission to access the approved asset. You can either approve an infinite amount or the exact amount you wish to use.

Step Four:

You can now deposit into the UwU market by clicking “deposit”. Enter the amount of UwU you wish to deposit and execute the transaction in your wallet. An overview of your position will display on the right side of the screen where you can easily manage your position, deposit more or borrow. UwU tokens are not available to be borrowed, so you will not receive interest by depositing.

Done! You have successfully deposited on Silo.

How to Borrow

Step One:

Select the “Borrow” tab to borrow $crvUSD (a stable coin offered by Curve Finance) using your deposited UwU tokens as collateral. UwU tokens have an LTV (Loan to value) of 50% so the maximum amount you can borrow is up to 50% of the market value of your deposited UwU.

Step Two:

Enter the amount you wish to borrow. Be mindful of the health factor and all information shown on the screen. After setting the amount, execute the transaction in your wallet.

crvUSD has its own oracle and is not always exactly $1, hence the borrowable amount of stables appears to be slightly higher than 50%. The image above shows where the 60% liquidation threshold lies against this loan; at $8.29 UwU or if crvUSD depegs well over $1 to $1.42. A combination in the middle is possible.