Although Gorilix DeFi’s native token, SILVA, has only been on the market for a couple of weeks, it’s already showing promise whilst the markets have spent the last few weeks in a downturn, SILVA is up +45%, showing gains some big crypto players are currently dreaming of. Although in the previous 24 hours, Ethereum (ETH) has bounced back by +6.07%, over the last week, its losses are presently 11%, with the 30-day price seeing a drop of -42.84%. Polygon (MATIC) has produced similar returns with 11.18% gains in 24 hours coming on the back of a 10.79% weekly loss and a 30-day hammering which saw the price drop 39.10%.
It shouldn’t surprise many that SILVA has been performing well since its presale launch on June 1, 2022. SILVA is the crypto child of the rapidly growing Gorilix DeFi platform. Gorilix DeFi puts decentralised banking in the hands of anybody with access to a smart device. With the ability to lend, borrow, trade, and save assets to build a maximised portfolio, Gorilix DeFi allows users to become their own banks with the click of a button. Gorilix’s protocols allow seamless lending by aggregating user supply and creating smart contracts and easy borrowing without the hassle of negotiation, funding periods, or maturity dates.
Apart from being its native token, SILVA plays a massive role in the Gorilix DeFi equation. Users of the platform are rewarded with SILVA tokens on tokens they already own in their wallets. The interest earned can amount to almost 20% APY, which is massive compared to the average savings account APY, which sits at around 0.07%. Not only do SILVA holders earn assets from tokens users already have, but they also choose how the Gorilix DeFi functions. SILVA acts as a governance coin in the Gorilix DeFi ecosystem, allowing holders to debate, propose, and vote on changes to the protocol.
Besides SILVA, Gorilix has a wealth of things in its ecosystem. Looking at their roadmap reveals the depth of planning going on to build…
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