10.6K @BartertownC One of the most profitable plays right now in DeFi is watching this market on @SonicLabs bleed $S .
Not only is it going to get worse but @redstone_defi is pulling the plug and cutting off more markets, which will force more sell pressure to repay the increased debt.
What do you think $3 million $S will do as soon as any liquidity comes into this thing so they can repay debt and get out? The majority will SELL! Or be liquidated.
10.6K @BartertownC @SonicLabs @redstone_defi Not only will this bleed millions but the play is so odvious it will encourage Millions in leveraged shorts to Crush $S
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10.6K @BartertownC Yikes @redstone_defi is deprecating their Oracle on @SonicLabs . Silo is about to get crushed from multiple directions $S will have Millions in sell pressure slowly bleeding .
6.4K @SiloIntern 🚨 Urgent 🚨
RedStone is deprecating their oracle price feeds on @SonicLabs.
if you have an open position in any of the markets below, you need to act asap. Once feeds goes offline, the following markets will shut down permanently.
affected markets (silo v2 only):
→ stS/S (ID 3)
→ stS/S (ID 28)
→ stS/USDC (ID 36)
→ weETH/ETH (ID 105)
→ ezETH/ETH (ID 104)
here's what happens when oracle feeds stop:
→ borrow — disabled
→ repay — disabled
→ liquidations — disabled
→ withdraw — still works
what you need to do right now:
if you're a borrower — repay your position immediately. once oracles go dark, repay is disabled and your collateral becomes inaccessible.
if you're a lender — withdraw your funds now. withdraw will still function after shutdown, but don't wait.
one thing to be clear about: Silo markets are immutable. there is no admin intervention, no rescue, no override. once the oracle feeds are sunset, that's it.
act now. links are below.
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10.6K @BartertownC How much more obvious does it need to get before Sonic Labs or Silo says something?
@SonicLabs @SiloFinance
88.4% borrow APR
75.1% supply APR
100% utilization
0 USDC available to borrow
And people still want to call this “healthy.”
And instead of clear public answers, there are already reports of people getting deleted from Discord for raising concerns.
This market looks completely pinned, completely overcrowded, and completely dependent on nobody rushing for the exit at the same time.
Meanwhile there’s roughly $2.9M of $S-side TVL that can become sell pressure if this unwind starts cascading.
That is not confidence.
That is a giant red flag.
This is the kind of setup that gets defended all the way up and then blamed on “market conditions” after it blows up.
How is this not a ticking time bomb?
10.6K @BartertownC Silo’s Sonic market looks completely jammed now.
USDC vault:
100% utilization
0 USDC left to borrow
81.8% borrow APR
69.5% supply APR
Meanwhile the $S side has about $3M in TVL.
So let’s call it what it is: this market is begging for an ugly unwind.
When a vault is this pinned, the yield is not a sign of strength. It is a sign of stress. And if users are overlevered against $S to chase this USDC carry, then that $3M of $S collateral becomes potential sell pressure the second the unwind starts.
That is the problem with reflexive yield loops:
they look amazing on the way up,
then they turn into forced sellers on the way down.
This is not sustainable.
This is the type of chart people post right before asking why everything nuked.
@SonicLabs @SiloFinance has been quiet about it.
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