[SIPS-111] Upcoming Turbo DIVETH Proposal

[SIPS-111] Upcoming Turbo DIVETH Proposal


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


Diva is an upcoming liquid staking provider that has already seen large pre-launch adoption in the form of vaults.

Their Enzyme pre-launch vault in particular has been highly successful, amassing over $35M in TVL.

We see an opportunity to provide a similar but differentiated service to the Diva community through a Sommelier vault. The vault will accept the Balancer rETH-ETH BPT as deposit asset (and accounting asset) and will hold the assets until divETH goes live.

Once divETH goes live, the vault will deploy the capital to support liquidity between rETH-divETH and divETH-ETH.

This vault enables participation from Rocketpool community members while remaining value additive to both ecosystems.

Proposal for cellar authorization for strategy Turbo DIVETH

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

Name: Turbo DIVETH

Cellar share token: TurboDIVETH

Strategy providers: Seven Seas Capital

Deployment: CellarWithOracleWithBalancerFlashLoansWithMultiAssetDepositWithNativeSupport | Address 0x6c1edce139291Af5b84fB1e496c9747F83E876c9 | Etherscan

Platform fee: 0.25% (0.22% for strategy provider + 0.03% for protocol)

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