[SIPS-107] Upcoming TurboEETH V2 Proposal

[SIPS-107] Upcoming TurboEETH V2 Proposal


The goal of this forum post is to discuss the upcoming Cellar proposal asking Governance to accept the Turbo EETH V2 strategy.


Seven Seas launched the Turbo EETH vault which has grown to almost $2M in TVL. One key limitation of the vault is that it only accepts WETH as deposit asset.

Since then, Seven Seas has developed an upgrade to the vault architecture which enables multi-asset deposits. We are therefore proposing a new Turbo EETH vault which accepts weETH, eETH, and WETH all as deposit assets.

The vault will utilize the following protocols:

  • Curve/Convex
  • Uniswap V3
  • Balancer
  • Morpho Blue

Proposal for cellar authorization for strategy Turbo EETH V2

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

Additionally, if accepted the liquidity from the original Turbo EETH vault will be migrated to the new vault. This will be accomplished by adding the Turbo EETH V2 vault as a position in the original Turbo EETH vault.

The benefit of this approach is that users in the original vault don’t need to manually migrate - they automatically benefit from the new vault.

Name: Turbo EETH

Cellar share token: TurboEETH

Strategy providers: Seven Seas Capital

Deployment: TBD

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

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

The Cellar has been deployed here: CellarWithOracleWithBalancerFlashLoansWithMultiAssetDepositWithNativeSupport | Address 0xdAdC82e26b3739750E036dFd9dEfd3eD459b877A | Etherscan