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 SWETH 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 SWETH vault which accepts swETH and WETH both as deposit assets.
The vault will utilize the following protocols:
- Uniswap V3
- Morpho Blue
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 SWETH vault will be migrated to the new vault. This will be accomplished by adding the Turbo SWETH V2 vault as a position in the original Turbo SWETH 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 SWETH
Cellar share token: TurboSWETH
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)