[SIPS-106] Upcoming Turbo OSETH Proposal
Goal
The goal of this forum post is to discuss the upcoming Cellar proposal asking Governance to accept the Turbo OSETH strategy.
Context
Stakewise is one of the largest liquid staking token providers, with over 100k ETH staked. With Stakewise V3 came the launch of osETH, an overcollateralized liquid staking token.
OSETH is mature from a DeFi integration perspective: there exist several incentivized yield opportunities on various DEXs, and integrations with Morpho Blue coming soon.
As a result, a Sommelier vault that optimizes over the existing and growing set of osETH opportunities is a natural fit.
The Turbo OSETH vault will accept WETH and osETH as deposit assets, and access yield on the following protocols:
- Uniswap V3
- Curve/Convex
- Balancer
- Morpho Blue
Proposal for cellar authorization for strategy Turbo OSETH
If approved, the chain will accept signed function calls submitted to the cellar contract from the strategy provider.
Name: Turbo OSETH
Cellar share token: TurboOSETH
Strategy providers: Seven Seas Capital
Platform fee: 1% (0.85% for strategy provider + 0.15% for protocol)
Performance fee: 20% (17% for strategy provider, 3% for protocol)