[RFC] Onboarding Seamless WETH Vault on Base

General Discussion Request for Comment [RFCs]
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Title: Onboarding Seamless WETH Vault on Base

Author: yellowknife

Submission Date: 17-June-2025 initially on Discussions Category

Summary

Onboarding Seamless WETH Vault on Base to be allocated for ETH Earn product on Base

Overview

Seamless Vaults on Morpho provide an optimized approach to yield generation, leveraging Morpho’s permissionless infrastructure and isolated pool design. Designed for users seeking efficient DeFi strategies, these yield-optimized vaults focus on blue-chip collateral markets. Curated by Gauntlet, a leading DeFi risk management platform, they maximize efficiency and returns while maintaining robust risk controls.

How does the vault works

The Seamless WETH Vault has, at the moment of posting, Total Deposits 25.36M and Net APY of 3.72%. The vault focuses on optimizing yield and streamlining efficiencies across various blue-chip collateral markets. More info into Gauntlet’s curation approach on the Seamless Governance Forum.

Reference discussion posts/governance votes: Forum post link, Tally vote

Main Risks

As with other DeFi lending and borrowing protocols, Morpho markets can include bad debt accrual, liquidation risk, and smart contract vulnerabilities.

Specifications

Vault Deposit Token: WETH

Network: Base

Contract Address: 0x27d8c7273fd3fcc6956a0b370ce5fd4a7fc65c18

Seamless WETH path: Link to vault

Morpho UI Path: Link to vault

Morpho Block Analitica: Link to dashboard

Risk Level: TBD by Block Analitica

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Appreciate you bringing this one forward @yellowknife. Seamless via Morpho is a strong contender for Lazy Summer vault integration, and the timing feels aligned with other Base-native ETH strategies present.

Looking forward to see an updated classification from @BlockAnalitica. That’ll help @Recognized_Delegates understand where it fits in our fleet stack (likely Lower Risk, but let’s confirm).

Excited to see how the review evolves as it moves toward SIP stage. Let me know if you need any help. Thanks again for pushing this forward!

–jensei

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Really excited to see this proposal for another Seemless market added given the success of the USDC market on the USDC Base Vault we have seen so far. This would also, at the time of writing, be a competive APR at 4.73% with 20M TVL, second only to Origin WETH right now - so would immediately be allocated to when onboarded if the numbers stay the same, boosting this Vaults APR for users.

Tagging @Block_Analitica and @Recognized_Delegates for their input.

The next voting period should start next Wednesday, 2nd July - would be good to see if we can include it in that one.

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Thank you for the proposal.

Just a small note that on Base there is only a lower risk eth fleet currently. Leaving it to Block Analitica to determine whether this fits that fleet.