Lending Protocol Silo Finance Launches Stablecoin $XAI

Decentralized lending protocol Silo Finance announced its stablecoin $XAI is live and available to borrow on the protocol.

$XAI will be the second bridge asset of Silo Finance after $ETH. Users can deposit collateral to borrow $XAI or $ETH, then use $XAI or $ETH as collateral to borrow other assets. Each asset has its own silo. By now, Silo Finance has made 15m $XAI available in the $ETH and $USDC silos. In addition, Silo Finance has seeded 3m of USDC-XAI liquidity in Uniswap V3.