Why xSEED only goes up
1 xSEED=$SEED in the Silo÷xSEED out there
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You deposit: 2.5% fee. 70% of it stays in the Silo, so the $SEED inside grows faster than the xSEED.
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You withdraw: 2.5% fee. Your xSEED are burned and less $SEED leaves than they were worth.
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You borrow: the interest is paid up front, and 70% of it stays in the Silo.
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A loan isn't repaid: its xSEED burn at 00:00 UTC. They were worth more than the debt, and the difference stays inside.
Alice deposits 10,000 $SEED
| Before | After | |
|---|---|---|
| $SEED in the Silo | 1,000,000 | 1,009,925 |
| xSEED out there | 1,000,000 | 1,009,750 |
| 1 xSEED is worth | 1.00000 | 1.00017 |
Fee 250 $SEED: 175 stay in the Silo, 75 are burned. Alice gets 9,750 xSEED, and everyone's xSEED just gained.
Borrow 99% with no liquidation price
Lock your xSEED and borrow up to 99% of their value in $SEED, for 0 to 365 days. Interest is 0.1% plus 3.9% a year, paid once when you borrow.
xSEED can't go down, so your loan stays covered and nobody can liquidate it. One rule: repay or add days before your end date.
- Repay anytime
- Add days
- Borrow more when xSEED grows
- Close with your own xSEED, 1%
Alice locks 9,750 xSEED for 30 days
- Worth
- 9,751.69 $SEED
- Borrowed (99%)
- 9,654.17 $SEED
- Interest, paid now
- 41.63 $SEED
- In her wallet
- 9,612.54 $SEED
Her 9,750 xSEED keep gaining while they're locked.
Loop it 40x in one click
A loop is what you would get by depositing, borrowing against it and depositing again, over and over. The Silo builds the whole position in one transaction, with a 1% deposit fee instead of 2.5%.
You win if xSEED grows faster than your fees before you close. If it doesn't grow, you lose what you put in.
A 100,000 $SEED loop for 30 days
- You pay
- 2,412.65 $SEED
- xSEED grows +5%
- you get 4,900 back
- Break-even
- +2.46%
- xSEED doesn't move
- you get about 0
Every night at 00:00 UTC, unpaid loans burn
When a loan reaches its end date unpaid, its xSEED are burned and its debt is erased. Those xSEED were worth more than the debt, so the difference stays with everyone else: the price jumps.
Next burn in 00:00:00
Purple days have loans ending. If they aren't repaid, their xSEED burn and 1 xSEED gains the % shown.
Where every fee goes
Price list
- Deposit2.5%
- Withdraw2.5%
- Borrow0.1% + 3.9%/yr
- Add days3.9%/yr
- Loop1% + interest
- Close with xSEED1%
70% of every fee stays in the Silo and raises the price of xSEED for every holder.
The other 30% is burned. It goes to the dead address, where nobody can ever move it again.
Burned forever 0 $SEED
Waiting to burn 0 $SEED
Anyone can press it. It sends the waiting $SEED to the dead address.
Who can move the $SEED
The contract has no owner, no pause switch and no way to mint xSEED out of thin air. $SEED leaves the Silo only when a holder withdraws, when a borrower takes a loan (at most 99% of what their locked xSEED are worth) or closes one, or when the burned 30% of fees goes to the dead address.
39 tests and 200,000 random transactions check that 1 xSEED never buys less $SEED than before.
Before you deposit
- xSEED is counted in $SEED. If $SEED drops in dollars, xSEED drops too.
- $SEED is a market token. Its price moves with the market, up and down.
- Deposit then withdraw costs about 5%. xSEED has to grow about 5.2% before that round trip pays.
- Miss your loan's end date and your locked xSEED burn at 00:00 UTC.
- Looping multiplies the growth and the fees. If xSEED doesn't grow, you lose what you paid.
- Not audited. Elysium is a young chain. Only put in what you can afford to lose.
Questions
Where do I get $SEED?
On the market where $SEED trades. The Silo links to it once $SEED is live.
Can xSEED go down?
Not in $SEED. Deposits, withdrawals, loans and midnight burns all leave more $SEED behind each xSEED. In dollars, it follows the price of $SEED.
Who controls the Silo?
Nobody. The contract has no owner and no admin withdraw. $SEED only leaves when holders withdraw, borrow or close a loan, or when burned fees go to the dead address.
Can I get liquidated?
The price can't do it, since xSEED never goes down. Your only deadline is your loan's end date: repay it or add days before it ends, at 00:00 UTC.
What happens to burned $SEED?
It goes to the dead address, where nobody can ever move it. It is out of circulation for good.
What's the link with Eggs?
Same up-only model as Eggs Finance on Sonic, rewritten from scratch for $SEED on Elysium, with no owner and no pause.
Can xSEED trade on a DEX?
Yes, xSEED is a standard token you can send and trade. If it trades more than 2.5% below the Silo's price, buying it there and withdrawing from the Silo pays the difference. More than 2.5% above, depositing and selling there does. That keeps both prices close.