[SIPS-106] Upcoming Turbo OSETH Proposal

Governance
1

[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

Deployment: CellarWithOracleWithBalancerFlashLoansWithMultiAssetDepositWithNativeSupport | Address 0xF47Cd68Fb1CB26d634f069d78A9a5cA8d7a5cd01 | Etherscan

Platform fee: 1% (0.85% for strategy provider + 0.15% for protocol)

Performance fee: 20% (17% for strategy provider, 3% for protocol)

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