Summary
This SIP proposes integrating Origin’s stETH ARM vault into the ETH Mainnet (Higher Risk) vault in the Lazy Summer Protocol.
This vault provides instant ETH liquidity for stETH users with zero slippage. It earns yield by taking a redemption arbitrage - that is, buying discounted stETH from the market and then redeeming the stETH for ETH 1-1 using Lido’s withdrawal queue. This vault has handled more than 424,000 ETH of swaps over the past year, or more than $1.5 billion at the current price of ETH. More details on the ARM can be found on the ARM docs and analytics page.
Adding this ARM vault will diversify ETH yield strategies, tap into Origin’s unique redemption vault model, and expand Lazy Summer’s yield-generating sources beyond standard DeFi lending protocols.
Motivation
- Expand yield sources – Provides exposure to Origin’s ETH ARM product, adding an ETH arbitrage strategy alongside existing ARKs.
- Attract new user types – Engages current ETH and stETH holders, deepening penetration into the ETH staking ecosystem.
- Increase TVL – Adds a ETH ARK, supporting Lazy Summer’s ETH vault growth objectives.
Specification
| Parameter | Value |
|---|---|
| Vault | ETH Mainnet – Higher Risk |
| Network | Ethereum Mainnet |
| New ARK | stETH ARM |
| Contracts | Lido ARM Zapper: 0x01F30B7358Ba51f637d1aa05D9b4A60f76DAD680 |
| Risk Level | Higher Risk |
| $SUMR Rewards | In line with ETH Higher Risk SUMR Rewards |
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