[SIPS-092] Upcoming TurboEETH Cellar Proposal

[SIPS-092] Upcoming TurboEETH Cellar Proposal


The goal of this forum post is to discuss the upcoming Cellar proposal asking Governance to accept the Turbo EETH strategy.


EtherFi is a liquid re-staking protocol built on top of Eigenlayer. Their liquid restaking token, eETH, went live on November 15, 2023. Sommelier vaults have demonstrated an effectiveness in creating efficient on-chain liquidity. We see an opportunity in bringing Sommelier liquidity provisioning to the EtherFi community.

The TurboEETH vault will accept ETH as deposit asset and will provide eETH/WETH liquidity on Uniswap V3 and Balancer to help create robust liquidity.

The vault will take exposure to the following assets:

  • eETH
  • WETH

and the following protocols:

  • Uniswap V3
  • Balancer

Proposal for cellar authorization for strategy Turbo EETH

If approved, the chain will accept signed function calls submitted to the cellar contract from the strategy provider.

Name: Turbo EETH

Cellar share token: TurboEETH

Strategy providers: Seven Seas Capital

Deployment: https://etherscan.io/address/0x0c190ded9be5f512bd72827bdad4003e9cc7975c

Platform fee: 1% (0.75% for strategy provider + 0.25% for protocol)

Performance fee: 20% (15% for strategy provider, 5% for protocol)