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Unslashed FinanceUnslashed Financeby0x97B626183e44B47872c46ec1105DdD6D9CB9246D0x97B6…246D

Deploy more WETH into stETH

Voting ended over 4 years agoSucceeded

In the last allocation vote, the community voted the following distribution:

(https://snapshot.org/#/unslashed.eth/proposal/Qmar39qp5aQJdCbZYJDtToxscY1buAkSBPd9gp5pbVPsfy)

20% inside the spartan bucket 40% on stETH/ETH curve pool 40% on sETH/ETH curve pool

Because sETH is off peg often and long, has it become less suitable for capital deployment. The ETH allocation for the sETH pool is currently unused and parked in USF Fund I. Our exposure to LIDO has gone down a lot since the last vote, and is currently below 5k ETH.

Total ETH deployable for asset management is 27,494 ETH Subtracting the 5k ETH that has exposure to LIDO, leaves 22,494 ETH that deployable in the stETH pool. Current allocation into the stETH pool is 14,367 ETH.

22,494 ETH-14,367 ETH= 9,127 ETH

I propose to allocate an additional 9,127 ETH to the stETH pool for more capital efficiency and a higher yield for the spartan bucket.

The allocation of the remaining 5K ETH is to be determined at a later point.

Off-Chain Vote

Yes
774.42K 99.1%
No
7.01K 0.9%
Download mobile app to vote

Timeline

Sep 23, 2021Proposal created
Sep 23, 2021Proposal vote started
Sep 25, 2021Proposal vote ended
Oct 26, 2023Proposal updated