1. Overview:
This SIP proposes onboarding three new WETH-based lending markets Aave v3, Compound v3, and Spark into the Ethereum Mainnet Higher Risk ETH Fleet. Based on the previously posted RFC.
Each ARK will be initialized with identical parameters, based on assessment from @BlockAnalitica’s prior analysis:
- fleetCap: 20,000 WETH
- fleetMinimumBuffer: 0.37
- Risk tier: Higher Risk
The goal is to diversify risk, improve vault competitiveness, and increase expected yield for the ETH HR Fleet.
2. Context & Motivation:
The Ethereum Mainnet Higher Risk ETH Fleet currently has very limited risk and yield diversification. With governance v2 coming online and vault competitiveness becoming a core focus, especially ahead of $SUMR transferability; expanding the ETH HR Fleet is both strategically beneficial and user-aligned.
Aave v3, Compound v3, and Spark are the most liquid and battle-tested ETH lending markets in DeFi. Adding all three simultaneously will:
- Increase protocol resiliency through diversified counterparty exposure
- Improve APY expectations
- Enable greater fleet capacity for future inflows
- Strengthen the protocol’s positioning in discovery platforms (e.g., vaults.fyi)
- Align Lazy Summer Protocol with updated post-incident risk methodology by @BlockAnalitica
This SIP formalizes the proposal following support in the RFC stage.
3. Specification:
Onboard the following three WETH markets to the Ethereum Mainnet ETH Higher Risk Fleet, with equal parameters:
Action: Add these ARKs to the ETH Mainnet HR Fleet with parameters above.
3.1 Specification (Aave v3)
| Parameter | Value |
|---|---|
| Vault | ETH – Higher Risk |
| Network | Ethereum Mainnet |
| New ARK | Aave v3 |
| Token | WETH |
| Contract Address | 0x87870Bca3F3fD6335C3F4ce8392D69350B4fA4E2 |
| Risk Tier | Higher Risk |
| FleetCap | 20,000 |
| FleetMinimumBuffer | 0.37 |
| $SUMR Rewards | In line with ETH HR Fleet |
3.2 Specification (Compound v3)
| Parameter | Value |
|---|---|
| Vault | ETH – Higher Risk |
| Network | Ethereum Mainnet |
| New ARK | Compound v3 |
| Token | WETH |
| Contract Address | 0xA17581A9E3356d9A858b789D68B4d866e593aE94 |
| Risk Tier | Higher Risk |
| FleetCap | 20,000 |
| FleetMinimumBuffer | 0.37 |
| $SUMR Rewards | In line with ETH HR Fleet |
3.3 Specification (Spark)
| Parameter | Value |
|---|---|
| Vault | ETH – Higher Risk |
| Network | Ethereum Mainnet |
| New ARK | Spark |
| Token | WETH |
| Contract Address | 0xC13e21B648A5Ee794902342038FF3aDAB66BE987 |
| Risk Tier | Higher Risk |
| FleetCap | 20,000 |
| FleetMinimumBuffer | 0.37 |
| $SUMR Rewards | In line with ETH HR Fleet |
4. Risk Assessment:
These ARKs have been previously evaluated by @BlockAnalitica.
No additional smart contract risks beyond those inherent to Aave v3, Compound v3, and Spark.
This SIP does not alter any protocol-wide parameters and only introduces isolated ARKs into an existing risk-tiered fleet.
5. Voting:
YES: Onboard all three WETH markets (Aave v3, Compound v3, Spark) to the Ethereum Mainnet Higher Risk ETH Fleet with the parameters defined.
NO: Make no changes to the ETH Mainnet Higher Risk ETH Fleet.
Tagging all @Recognized_Delegates for a final review, in preparation for the onchain vote.
