"Real Yield ETH" details page

henrio123 commented 1 year ago

LAUNCH DATE: "Wed Apr 12, 04:00 pm UTC"

Link: https://app.sommelier.finance/strategies/Real-Yield-ETH/manage

Contracts: https://etherscan.io/address/0xb5b29320d2Dde5BA5BAFA1EbcD270052070483ec#code

Staking contract: https://etherscan.io/address/0x955a31153e6764FE892757AcE79123ae996B0aFB

Liquidity mining: Add Bond; Unbond, Unstake, Claim rewards buttons, designs/views and functionalities like it was with Aave Strategy.

Deposit assets: stETH, cbETH, rETH, ETH

Strategy Type: Yield

Protocols: Aave, Compound and Uniswap V3

Platform fee: 2% (1.5% for strategy provider + 0.5% for protocol)

Performance fee: 20% (15% for strategy provider, 5% for protocol)

Deposit & Exit Fee: 0.0%

Strategy assets stETH, cbETH, rETH, ETH

Goal: Maximize ETH yield through Aave and Compound leveraged staking and Uniswap V3 liquidity provision of ETH liquid staking tokens.

Highlights:

The vault:

Accumulates leverage using a method that is highly capital efficient and significantly reduces gas and flash loan fees.
Active strategy which optimally allocates capital across key protocols for best-in-class yields.
Optimizes Uniswap V3 tick ranges.

Description: Liquid Staked Tokens (LSTs) have gained significant traction since Ethereum's transition to proof-of-stake by allowing users to earn staking yield while also using that capital within DeFi, resolving the tension between securing the network and accessing liquidity to pursue DeFi opportunities. The innovations from liquid staking providers like Lido and RocketPool have seen LSTs become a growing component of Ethereum DeFi, and Real Yield ETH is poised to be a powerful vault for capturing organic yield across prominent LSTs.

Note that Real Yield ETH and Sommelier vaults are not open to persons or citizens of the United States and other restricted countries - for more details please refer to the Sommelier User Terms

FAQ's:

Are the smart contracts audited? Yes, all smart contracts on Sommelier have been audited by an independent third-party auditor. You can find the link to the audit reports at https://www.sommelier.finance/audits

What are the risks? It is important to acknowledge the inherent smart contract risk in the Sommelier contracts (despite extensive auditing) and the protocols the vault interacts with. Additionally, the vault utilizes leverage to generate yield, which poses a risk of liquidation. To help reduce this risk, the vault’s smart contracts enforce a minimum 1.05 health factor during each rebalance as a safety measure, and the vault closely monitors on-chain conditions to mitigate liquidation risk. Furthermore, the vault does not manage de-peg risk beyond the initial selection of widely used ETH liquid staked tokens. Lastly, it’s worth noting that withdrawing 100% of assets from the vault may not always be possible. Specifically, Uniswap V3 LP positions held by the vault are ineligible for immediate withdrawals, meaning users can only withdraw from certain Aave, Compound, and holding positions. Nevertheless, 7Seas and Define Logic Labs will ensure a percentage of funds are consistently maintained in liquid positions for withdrawal. This is also the case for Real Yield USD and some Yearn positions.

Source: https://docs.google.com/document/d/1XvRyISP1HZQj02tN9EdQgcGwPEl8OUhPKC7yr1L4Mek/edit

Strategy provider: Seven Seas & DeFine Logic Labs Strategy provider logo: re-use Seven Seas logo Strategy provider webpage: https://sevenseas.capital/

Add Sign up pop-up after deposit

henrio123 commented 1 year ago

Connect wallet bug

henrio123 commented 1 year ago

Total fees should be 2%

henrio123 commented 1 year ago

@joshuanatanielnm updated FAQ -

Source: https://docs.google.com/document/d/1XvRyISP1HZQj02tN9EdQgcGwPEl8OUhPKC7yr1L4Mek/edit

Are the smart contracts audited? Yes, all smart contracts on Sommelier have been audited by an independent third-party auditor. You can find the link to the audit reports at https://www.sommelier.finance/audits

What are the risks? It is important to acknowledge the inherent smart contract risk in the Sommelier contracts (despite extensive auditing) and the protocols the vault interacts with. Additionally, the vault utilizes leverage to generate yield, which poses a risk of liquidation. To help reduce this risk, the vault’s smart contracts enforce a minimum 1.05 health factor during each rebalance as a safety measure, and the vault closely monitors on-chain conditions to mitigate liquidation risk. Furthermore, the vault does not manage de-peg risk beyond the initial selection of widely used ETH liquid staked tokens. Lastly, it’s worth noting that withdrawing 100% of assets from the vault may not always be possible. Specifically, Uniswap V3 LP positions held by the vault are ineligible for immediate withdrawals, meaning users can only withdraw from certain Aave, Compound, and holding positions. Nevertheless, 7Seas and Define Logic Labs will ensure a percentage of funds are consistently maintained in liquid positions for withdrawal. This is also the case for Real Yield USD and some Yearn positions.

henrio123 commented 1 year ago

APY looks wrong-