[SIP2.43] Add Extrafi XLend’s Eth Pool to Base Lower Risk Eth Vault

Governance Summer Improvement Proposals [SIPs]
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Summary

This SIP proposes integrating Extrafi XLend’s ETH Pool into the ETH – Lower Risk vault on Base in the Lazy Summer Protocol.

Following technical review and risk diligence, Extrafi XLend’s ETH Pool meets Lazy Summer’s standards for inclusion. For background, see the discussion in [RFC] Onboarding Extrafi XLend ETH into Summer.fi ETH Base vault.

This integration enhances Lazy Summer’s vault diversification and provides access to yield sources beyond standard [e.g., DeFi lending or staking] protocols.

Motivation

Expand Yield Sources – Extrafi XLend ETH currently offers 2.6% Supply APY(OP Reward APY + Lending APY), higher than most Base ETH pools, complementing existing vault strategies.

Attract New Users – Extrafi maintains over $100M in TVL, supported by a diverse user base including institutional investors and individual users. Integrating Extrafi XLend creates strategic alignment with Summer.fi while offering additional options for strategy-specific holders and users seeking optimized stablecoin/Eth deployment.

Increase TVL – Extrafi XLend ETH currently has a supply cap of 500 ETH and will continue to increase based on the market. This integration strengthens the Lazy Summer product offering and supports growth goals for the ETH vault family.

Specification

Parameter Value
Vault Base ETH – Lower Risk
Network Base
New ARK Extrafi XLend ETH
Contract Address 0x3DFab48957692Ea210A882cD50dd7044C608384C
Risk Tier Lower Risk
$SUMR Rewards In line with [corresponding vault reward policy]

*Additional Info: a similar strategy is already present in Base ETH LR Vault (morpho_extrafi_xlend_weth) wrapped in Morpho

*waiting on @BlockAnalitica risk assessment

*ExtraFi is covered under Bases Defi Pass with Nexus Mutual if you want it, and also Nexus Mutual- OpenCover - Base DeFi Pass

* OP Incentives for Extrafi Lend should run for next 3-5 months (received from Optimism Grants Council)

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Hey @MasterMojo, thank you for promoting this to the SIP. Adding Extrafi XLend’s ETH Pool to the Base Lower-Risk ETH vault is a strong move. It broadens yield sources beyond traditional lending/staking, increases diversification, and aligns with our goal of offering stable, risk-adjusted returns. Excited to see this integrated and how it complements existing strategies in the vault.

Considering risk-off strategy by @BlockAnalitica, I will be looking forward to their assessment and classification of this strategy fit either into Lower Risk or Higher Risk fleet.

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