Enable stETH Redemption Protocol on Lite Vaults
Summary:
This proposal enables the stETH Redemption Protocol on the Lite Vaults, enabling the vaults to deleverage directly from Lido at a 1:1 rate, reducing costs and improving Lite Vault utilization and user returns. This proposal also sets the weETH/wstETH oracle address.
Code Changes:
Addition of the Fluid stETH Module, and updates to the Withdraw Modules on Instadapp Lite:
New Implementations
- Fluid stETH Module: 0x0F1679FB1d5B2981423c757e8ea91979fabDB2D1
- Dummy Implementation: 0xd58ca26C8e888Fb628753F08816bED4a07d0E4af
weETH/wstETH Vault Update:
- weETH/wstETH Vault: 0x40D9b8417E6E1DcD358f04E3328bCEd061018A82
- weETH/wstETH Vault Oracle: 0x322F7FCEA001bEBB63413f42B0028E5A81b933EF
Description:
The stETH Redemption Protocol on Fluid serves as a specialized mechanism for efficiently deleveraging stETH positions. The stETH Redemption Protocol enables the ETH Lite Vaults to optimize asset utilization by eliminating the need to maintain a 25% reserve for Lido redemptions. This adjustment allows for an additional 25% of the vault’s assets to be actively engaged in its strategic operations, potentially enhancing returns for users by 30-50%.
Conclusion:
This proposal finalizes and enables the ETH Lite Vault to utilize the stETH Redemption Protocol on Fluid to deleverage its stETH/ETH positions and updates the weETH/wstETH Vault oracle.
Forum Link: Deploy stETH Redemption Protocol on Fluid
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0xa761...834324 | 1.51M | FOR |
 0xAa72...c44931 | 1.191M | FOR |
 0xA45f...8cea01 | 1M | FOR |
 0xe9cC...31aA9F | 500,000 | FOR |
 0x4604...6A7329 | 500,000 | FOR |
VOTE POWER
Proposal Status
- Wed March 20 2024, 10:06 pmVoting Period Starts
- Fri March 22 2024, 10:36 pmEnd Voting Period
- Fri March 22 2024, 10:42 pmQueue Proposal
- Sun March 24 2024, 05:47 pmExecute Proposal
Current Results
1-FOR
5.288M
2-AGAINST
N/A Tokens
3-ABSTAIN
N/A Tokens