[SIPS-119] Upcoming Real Yield ETH 2.0 Proposal

[SIPS-119] Upcoming Real Yield ETH 2.0 Proposal

Goal

The goal of this forum post is to discuss the upcoming Cellar proposal asking Governance to accept the RYETH 2.0 strategy.

Context

Real Yield ETH was launched in April 2023 on the Cellars V2 architecture. Since then there have been several improvements to the Cellars architecture including reduced gas costs and multi-asset deposits.

The goal with this Cellar is to slowly migrate liquidity (automatically without action required from users) from the existing RYETH to the new one. RYETH 1.0 will take RYETH 2.0 as a position, and slowly increase allocation to RYETH 2.0.

Proposal for cellar authorization for strategy Real Yield ETH 2.0

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

Name: Real Yield ETH

Cellar share token: RYETH

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)

RYETH 2.0 will take on the following assets:

  • WETH
  • wstETH
  • stETH
  • rETH
  • cbETH
  • swETH
  • ETHX
  • osETH

and the following protocols:

  • Aave V2 / V3
  • Morpho Aave V2 / V3
  • Morpho Blue
  • Uniswap V3
  • Balancer
  • Curve

There will be an additional Scheduled Cork proposal (at the same time) to enable RYETH 1.0 to take RYETH 2.0 as a position. This proposal will go live at the same time.