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One of the hottest trends in the blockchain universe is the application of decentralized finance (DeFi) solutions. Today we will impartially review for our readers the Silicon Finance project, a new DeFi initiative aiming to solve a series of industry issues.
The project’s team aims to achieve an increase in the safety of DeFi, with obvious benefits for the whole blockchain community. Furthermore, the initiative will look into a way to introduce more democracy and equality on Initial Dex Offerings (IDOs) launches for crypto investors.
While doing so, the developers also aim to reduce the gap between the DeFi world and the real economy.
What is Silicon Finance?
Silicon Finance is a project born in Africa with the purpose of reaching a global scale over the following years. A KYC’ed team backs the initiative, which consists of the following components:
By holding the $SLK token (more details below, in the dedicated section) anyone can use this new IDO platform to gain early access to new digital offerings. The developers have worked towards the development of smart contracts working as follows:
- Presale coins and all the raised $BNB are transferred to PancakeSwap V2
- The LP system is created
- LP tokens are locked away at once.
The process is designed in order to minimize the chances of crypto scams, as many rug pulls and other malicious operations observed on the market in 2021. Therefore, as previously mentioned, SiliconPad should help the project team achieve a higher level of security in the DeFi sector. The SiliconPad portal is already live, and anyone can visit it online.
SiliconChart is expected to provide live market quote charts for tokens working on the Binance Smart Chain (BSC) system. BSC is one of the most popular blockchains on the market, with new tokens appearing every day.
The team promises that anyone holding $SLK will have exclusive features on this DAPP.
The project’s team has also launched a swap portal (which is already live under the name of SiliconSwap), intending to enable crypto enthusiasts to swap their favorite coins. The team expects all the swap operations on the platform to be instantaneous, with a connection to several exchanges.
SiliconSwap is bound to bring an essential boost to the market positioning of Silicon Finance. The ability to bridge the gap among Binance Smart Chain, Ethereum, Polygon, and more chains in the future is undoubtedly a key factor of the platform.
Furthermore, SiliconSwap lets its users buy coins by using a vast selection of fiat currencies. This is yet another aspect that helps Silicon Finance differentiate itself from the competition.
Silicon Mobile App
The initiative comes with its own mobile app, working on both Android and iOS systems. The app is the primary tool that should help DeFi work more closely to the real-world economy in its creators’ plans.
In order to do so, the Silicon Mobile app will present a series of functionalities (such as the creation of an in-built crypto wallet) to let everyone handle a wide set of coins.
The $SLK token
The Silicon Finance Token (or $SLK) was created as a BEP-20 utility coin. All the different platforms belonging to the Silicon Finance ecosystem will integrate and boost the utilization of this token.
The token has a maximum supply of 100 million samples, distributed as follows:
- Private sale: 8%
- Seed: 10%
- Public sale: 10%
- Team: 8.8%
- Staking emissions: 41.2%
- Other operations: 22% (development – 4%, partnerships – 7%, marketing & CEX – 6% and advisory – 5%).
While the maximum supply is capped at 100 million coins, only 40 million of them will constitute the initial circulating liquidity of the project. The $SLK presale operation is ongoing on Unycrypt.
Once the soft cap threshold is reached, the project’s team anticipates the transfer of 3% raised BNB towards the team address (50%) and to Silicon Finance staking contracts (50%).
The project roadmap
The Silicon Finance project officially started in Q1 2021, and its roadmap can be divided into four stages:
The team used the first quarter of 2021 to design the project’s overall engineering, with the development and audit operations of the smart contracts.
The second phase of the project led to the launch of SiliconSwap and SiliconChart, together with the ongoing $SLK presale operation.
Following the conclusion of the presale phase, the $SLK token will be listed, and the team will lock its liquidity.
SiliconPad is expected to go live by Q1 2022, together with the first presale scheduling on the platform.
The staking pools will be open and operational, and $SLK will see the listing on major crypto exchanges.
The team expects to bring an enhanced integration with an increasing number of DEX platforms in the future. The mobile app of the initiative will also be available on the Play Store and App Store, and the Silicon Trading Platform will go live.
The project’s developers expect, at this point, to announce more innovations within this new ecosystem.
Silicon Finance is a new comprehensive crypto initiative aiming to solve a series of common issues on the DeFi market niche. In order to do so, the team proposes the creation of an ecosystem composed of several portals and DAPPs.
The initiative is backed by an online community, active on Twitter, Telegram, Instagram, and Medium. While we will need to monitor the project to assess its success in the future, its ambitions are indeed highly promising and may change the way DeFi works.
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