[SIPS-044] Upcoming Proposal to add wstETH to Real Yield ETH

This forum post is to discuss the upcoming proposal for addition of wstETH to Real Yield ETH. RYETH primarily earns yield through a combination of leveraged staking (cbETH and rETH on Aave V3, stETH on Aave V2) and LPing on Uniswap V3.

Wrapped Staked ETH (wstETH) is currently supported by E-mode on Aave V3 making it a highly attractive source of ETH yield. When RYETH was launched, there was no support for wstETH as an asset due to the lack of a Chainlink price feed.

Since then, a workaround solution has been developed to support pricing wstETH as an asset in the Cellars V2 architecture. The solution essentially reads the wstETH / stETH conversion rate directly from the contract, then gets the stETH / ETH chainlink price, and composes to two to get a wstETH / ETH price.

If the text proposal is accepted, a Steward update will enable wstETH to be added to Real Yield ETH’s set of usable assets