[SIPS-120] Upcoming Real Yield USD 2.0 Proposal

Governance
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[SIPS-120] Upcoming Real Yield USD 2.0 Proposal

Goal

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

Context

Real Yield USD was launched in January 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 RYUSD to the new one. RYUSD 1.0 will take RYUSD 2.0 as a position, and slowly increase allocation to RYUSD 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 USD

Cellar share token: RYUSD

Strategy providers: Seven Seas Capital

Deployment: CellarWithOracleWithBalancerFlashLoansWithMultiAssetDeposit | Address 0x6285e597eCF1398c2a22fB91949486d092e540C8 | Etherscan

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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RYUSD 2.0 will take on the following assets:

  • USDC
  • DAI
  • USDT
  • SDAI

and the following protocols:

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

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