SGR 55: SuperETH

Gauge Request Presentation:

• Targeted Pair: LP-SuperETH https://app.spectra.finance/pools/eth:0x1825b0ffb79093be293b9899f33ae7f665d872ce
• IBT contract address: 0xeF101508bf4DC6CF0f0a0C135f39a41faB4E4389
• Current TVL in the Pair’s liquidity: $50k
• Current TVL of IBT: $429k
• Twitter: https://x.com/superformxyz
• Chain: Ethereum mainnet

Simple summary:

Following up on the success of SuperUSDC (surpassed $1M TVL on Spectra in 2 weeks), this proposal aims to add a Gauge for the SuperETH Spectra Pair. The pool for the SuperETH pair has been live since February 13, 2025 and matures on April 20, 2025.

Superform is the onchain wealth app. Superform earns you the best returns on your crypto to grow your onchain wealth. Use SuperVaults to automatically optimize your earnings, or build your customized portfolio by directly depositing into over 900 earning opportunities.

SuperETH optimizes ETH returns across blue-chip lending protocols on Ethereum (Morpho and Euler) by automatically rebalancing between vaults using predictive onchain data. Audited by yAudit, leading security researchers, and secured by Yearn v3.

SuperETH just launched today (February 13) and has already attracted nearly $500k in TVL. The APY for SuperETH is 6% at the time of writing. LPs and YTs earn 50x CRED (Superform points). For comparison, regular deposits into SuperETH earn 20x CRED. LPs and YTs also earn rewards from the vault(s) that SuperETH allocates to. Currently LPs and YTs earn MORPHO tokens at a rate of 1.35% APY.

We’d like to add this pool to Spectra’s gauge system to incentivize liquidity of our PT. The benefits to Superform and Spectra are listed below:

Benefit of this integration for Superform

• Increase the TVL of SuperETH and the Superform protocol
• Additional yield and points farming opportunities for the community
• Increase the visibility of Superform
• Superform users can lock in a high fixed APY on ETH with PTs and speculate on ETH lending rates

Benefit of this integration for Spectra

• Increase Spectra TVL
• Diversify the offerings on Spectra with a high yield ETH market
• Increase Spectra’s visibility
• Bribes for SPECTRA token holders

Metrics:

• TVL of Superform: $83M
• TVL of SuperETH: $430k
• APY of SuperETH: 6%
• Community size on Discord: 50,000
• Twitter followers: 123,000

Means:

• Superform is prepared to offer regular bribes for veSPECTRA holders
• LPs and YTs are incentivized with 50x CRED