[SIP2.29] Onboard Gearbox cp0xLRT Pool - ETH Higher Risk Vault

Governance Summer Improvement Proposals [SIPs]
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Add Gearbox cp0xLRT Pool to ETH Higher Risk Vault

Submission Date : 26 August 2025
Author : @cp0x

Summary

This proposal suggests adding the Gearbox cp0xLRT wstETH v3 pool as a new ARK strategy within the Summer.fi ETH Higher Risk Vault (Ethereum Mainnet).

The Gearbox pool supports cp0xLRT, a liquid restaking token backed by wstETH, and currently offers one of the highest yields among Gearbox vaults.

Motivation

  • High Yield Opportunity: The cp0xLRT pool currently provides a 6.34% APY (more than current ETH higher risk vaults) to suppliers, making it one of the top-performing Gearbox lending markets. Integrating it strengthens Summer.fi’s higher-risk strategies with sustainable yield.
  • Diversification: Adding cp0xLRT, cp0xLRT (→ wstETH) expands the range of supported collaterals in the ETH Higher-Risk Vault, reducing dependency on a limited set of assets.
  • Liquidity Growth: Strengthening the connection between Summer.fi and Gearbox benefits both ecosystems and creates new opportunities for users.

Specifications

  • Vault: Summer.fi ETH Higher Risk (Ethereum Mainnet)
  • New ARK: Gearbox cp0xLRT Lending Pool
  • Supported Asset: cp0xLRT, cp0xLRT → wstETH
  • Format: ERC-4626 lending pool, fully compatible with Lazy Summer architecture
  • Network: Ethereum Mainnet

Risk & Integration

  • Block Analitica Review: Will define caps, exposure thresholds, cooldowns, and other safety parameters.
  • Protocol Security: Gearbox has operated for over 4 years without incidents, audited by ChainSecurity, ABDK, Decurity, and MixBytes.
  • Collateral Security: cp0xLRT is a liquid restaking token (LRT) backed by wstETH, leveraging the security and liquidity of Ethereum staking while enabling restaking yield.
  • Seamless Integration: The ERC-4626 design of the Gearbox pool ensures smooth integration with Lazy Summer vaults.

Next Steps

  1. Collect feedback from @Recognized_Delegates.
  2. Finalize parameters with @BlockAnalitica.
  3. Proceed to on-chain vote if no blocking issues arise.
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Welcome to the forum @cp0x great to see you posting your first SIP with such a well-prepared proposal!

This looks like an interesting addition to the mainnet ETH HR vault, reducing concentration and building resilience. Since, we have previously integrated some Gearbox’s strategies, its ERC-4626 design makes this a clean plug into Lazy Summer’s architecture.

I’m curious to hear @Recognized_Delegates community views on how much exposure to restaking assets we’re comfortable with in this risk tier, considering its withdrawal period <2 weeks

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The yield is compelling and a high-yield, liquid restaking strategy via a trusted protocol like Gearbox is a perfect fit.

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