# \[SIPS-107\] Upcoming TurboEETH V2 Proposal

**URL:** <https://community.sommelier.finance/t/sips-107-upcoming-turboeeth-v2-proposal/1250>\
**Category:** Governance\
**Created:** [January 23, 2024, 5:08am UTC](https://community.sommelier.finance/t/sips-107-upcoming-turboeeth-v2-proposal/1250 "2024-01-23T05:08:04Z")\
**Posts on this page:** 2\
**Page:** 1

<div class="post-metadata">

**Author:** ![7seas.capital](https://yyz2.discourse-cdn.com/flex030/user_avatar/community.sommelier.finance/7seas.capital/32/238_2.png) [@7seas.capital](https://community.sommelier.finance/u/7seas.capital)\
**Post date:** [January 23, 2024, 5:08am UTC](https://community.sommelier.finance/t/sips-107-upcoming-turboeeth-v2-proposal/1250/1 "2024-01-23T05:08:04Z")

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# [SIPS-107] Upcoming TurboEETH V2 Proposal

## Goal

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

## Context

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](https://www.sevenseas.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)

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<div class="post-metadata">

**Author:** ![7seas.capital](https://yyz2.discourse-cdn.com/flex030/user_avatar/community.sommelier.finance/7seas.capital/32/238_2.png) [@7seas.capital](https://community.sommelier.finance/u/7seas.capital)\
**Post date:** [January 25, 2024, 5:05am UTC](https://community.sommelier.finance/t/sips-107-upcoming-turboeeth-v2-proposal/1250/2 "2024-01-25T05:05:53Z")

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The Cellar has been deployed here: [CellarWithOracleWithBalancerFlashLoansWithMultiAssetDepositWithNativeSupport | Address 0xdAdC82e26b3739750E036dFd9dEfd3eD459b877A | Etherscan](https://etherscan.io/address/0xdAdC82e26b3739750E036dFd9dEfd3eD459b877A)