QIP174: Add yvETH on Optimism as collateral for MAI.

yvETH is a receipt token for a new ETH strategy on Yearn Finance Optimism. The strategy will soon receive $OP incentives from Yearn, which should attract more TVL to it. QiDao will need to compound this OP yield into ETH to keep the collateral to just ETH tokens.

Link to strategy: https://yearn.finance/#/vault/0xA628c54C850ff1077b5C954491D19EccE7e321fF

Fees

A performance fee of 0-10% will be placed on this collateral. Final amount will depend on the level of revenue sharing Yearn implements.

Proposed risk parameters

135% minimum collateral to debt ratio, in-line with mooAaveETH Minimum borrow: 10 MAI Maximum borrow per vault: 1M MAI

Motivation

Grow TVL on Optimism Increase revenue Strengthen relationship with Yearn Receive revenue share from Yearn’s partnership program on Optimism

Quorum Standards

The option with the most votes will be adopted.

Options

Add yvETH as collateral Further discussions needed

Comparable risk analysis: https://riskmanagement.qidao.community/en/tokens/yveth-fantom