Stories, Advise + Alpha from SiloFinance's cofounder Aiham_eth
OG and building since 2015! + Silo Finance alpha
Stories, Advise + Alpha from SiloFinance's cofounder Aiham_eth
OG and building since 2015!
In this interview
How he got into crypto
Silo’s approach & catalyst for growth
His OG stories
His advise
Silo alpha
What does he think it’s required to make it in crypto
What does Aiham think its required to make it in crypto?
As a project, I think it is having a clear vision and executing patiently and consistently. Building in a bear market is tough because effort takes a long time to materialize.
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❓Can you do a short introduction about yourself?
Aiham
My name is Aiham - one of four who started Silo Finance back in October 2021 when we entered ETH Global Hackathon.
I have a background in economics and have worked in growth hacking since 2011 for tech startups across the globe.
Lambro
My previous post on what is Silo finance
❓How did u fall into the crypto rabbit hole & end up being the founding team of silo?
Aiham
It was the Ethereum Whitepaper that I came across in 2015.
Back then it seemed to me that Crypto is the missing building block that will advance humanity towards becoming sovereign, sovereign humans that exercise free being in a world that is increasingly controlled by governments, ideologies, and manufactured fallacies.
❓Can u share more about how silo's is different approach compare to other lending market
Aiham
Silo Finance flips the traditional lending model upside down.
In the traditional lending market, all crypto assets sit in one big pool (smart contract), creating wanted efficiency yet unwanted systemic risk - an exploit to one token asset leads to draining the entire protocol.
Silo Finance, on the other hand,champions risk-isolation by creating one market for every token asset. The isolated lending market contains contagion risk to one market at a time. Our markets are connected via bridge assets to create efficiency.
❓What are the challenges to overcome or catalysts you see that can boost silo's growth?
Aiham
The main challenge is lack of user awareness of shared-risk inherent to any lending market with multiple assets.
We’ve been seeing an increase in awareness in that regard, unfortunately due to the many hacks and exploits that continue to our present day.
We’ve been experimenting with multiple levers to accelerate - we think between increasing awareness, applying incentives strategically, and building user trust, it will all result in increased user adoption of isolated lending markets.
❓What type of users are silo's target user? What is the best way for them to utilize Silo?
Aiham
We target traders seeking to leverage their holdings for higher yield;
We are seeing DAOs using Silo Finance, best demonstrated in Olympus lending AMO where the DAO has deposited OHM into the OHM silo part of a vision to scale the use of the DAO’s native assets throughout DeFi.
❓Being a OG in space can you share with us an interesting crypto story?
Aiham
Back in 2018 we started a crypto startup to build an L1 to enable the instant settlement in music - long story short, we wanted Spotify to pay all copyright holders anywhere, instantly.
We also explored tokenizing a song to stream royalties to the song’s token holders in a trustless manner. The startup was too early and failed - but we had a lot of fun developing out of a shared house in sunny Los Angeles.
❓Any advice for the crypto degens?
Aiham
Please learn about risk. Before you use a dApp, ask their team, or community, the following questions:
What type of risk am I taking when I use the app?
Can anyone, including a proxy, take custody of my fund under any circumstances?
Does the app use 3rd-party services that might pose risk - like oracles? If so, what are they?
❓Special alpha for the lambro community please
Aiham
We’re starting token incentives next week to the following markets:
rETH
wstETH
OHM
DPX (Arbitrum)
MAGIC (Arbitrum)
❓What does Aiham think its required to make it in crypto?
As a project, I think it is having a clear vision and executing patiently and consistently. Building in a bear market is tough because effort takes a long time to materialize.
Thank you for reading!
