Summary This proposal suggests adding an sUSDS Ark to the recently onboarded Arbitrum USDC Vault. This Ark will utilize the Sky Savings Rate (SSR) module, currently offering a yield of approximately 4.5%, as a new yield source for the vault.
Motivation To further diversify the yield strategies available to the Arbitrum USDC Vault and capitalize on the attractive yield offered by the Sky Protocol’s Sky Savings Rate (SSR) via its sUSDS token. This enhances the overall return potential for vault depositors.
Specification
- New Ark: Sky Savings Rate (SSR) Ark utilizing sUSDS through
sUSDC. - Target Vault: Arbitrum USDC Vault.
- Network: Arbitrum.
- Yield Mechanism: The Ark will deposit the vault’s USDC into the Sky Savings Rate module (SSR). This process was simplified thanks to Spark
sUSDC(0x940098b108fB7D0a7E374f6eDED7760787464609) , which accrues yield at the prevailing Sky Savings Rate (currently ~4.5%). sUSDC Token – Spark Docs - Implementation:
ERC4626Arkimplementation can be used out of the box.
Risk Level: Lower Risk. Primary risks involve smart contract security of the Sky Protocol (sUSDS/SSR contracts) and potential fluctuations in the Sky Savings Rate.
Voting Seek initial feedback. If positive, proceed to an on-chain vote to approve the addition of the sUSDS Ark, potentially launching with a 0 deposit cap initially for safety.
sUSDC would nicely supplement current arbitrum USDC options for the fleet.
