The goal of this forum post is to discuss the upcoming Cellar proposal asking Governance to accept the Real Yield BTC strategy.
Sommelier’s Real Yield ETH and USD strategies have demonstrated impressive performance, generating state of the art yields for ETH and stablecoins respectively. WBTC represents a significant opportunity because it (1) is a widely held asset with (2) relatively few on-chain yield opportunities.
The primary goal of Real Yield BTC is to make available sustainable WBTC-denominated yields through a dynamic and evolving set of strategies. Initially, the Cellar will use Morpho for efficient leveraged ETH staking against WBTC collateral. The Cellar may additionally borrow ETH to deposit into Real Yield ETH. In the future, there is a possibility for Real Yield BTC to make use of the Fraximal Cellar.
The Cellar will make use of the following assets
and the following protocols:
- Aave V3
- Morpho (both lending and borrowing on Aave V3)
If approved, the chain will accept signed function calls submitted to the cellar contract from the strategy provider.
Name: Real Yield BTC
Cellar share token: YieldBTC
Platform fee: 1% (0.75% for strategy provider + 0.25% for protocol)
Performance fee: 20% (15% for strategy provider, 5% for protocol)
We will update this post with more details in the coming days, including contract deployments and relevant content.