Summary
This SIP proposes onboarding Midas Apollo Crypto (mAPOLLO) as an underlying yield source for the USDC Mainnet - Higher Risk vault in the Lazy Summer Protocol.
mAPOLLO is an ERC-20 token representing a share of the Midas Apollo Crypto strategy, which aggregates on-chain yield opportunities into a single vaulted asset. Lazy Summer would integrate mAPOLLO via dedicated issuance and redemption vaults and value it using an onchain mAPOLLO/USD oracle.
By adding mAPOLLO, Lazy Summer broadens its higher-risk USDC offering on Ethereum mainnet with an actively managed, Midas-operated strategy that is structurally different from pure lending.
Motivation
Access to actively managed USDC yield
Most higher-risk USDC strategies today are based on lending markets, leverage, or structured stablecoin positions. mAPOLLO introduces an actively managed strategy operated by Midas, giving users exposure to a distinct yield engine without requiring them to manage positions directly.
Diversified higher-risk yield sources
Onboarding mAPOLLO adds another protocol and strategy type to the USDC Mainnet - Higher Risk vault, reducing reliance on single family of DeFi protocols.
Specification
| Parameter | Value |
|---|---|
| Vault | USDC Mainnet - Higher Risk (proposed) |
| Network | Ethereum |
| New ARK | Midas Apollo Crypto (mAPOLLO) |
| Protocol | Midas |
| Token | mAPOLLO |
| Risk Tier | Higher Risk (subject to BA review) |
Smart Contracts
| Component | Address |
|---|---|
| mAPOLLO Token | 0x7CF9DEC92ca9FD46f8d86e7798B72624Bc116C05 |
| mAPOLLO/USD Oracle | 0x84303e5568C7B167fa4fEBc6253CDdfe12b7Ee4B |
| Issuance Vault | 0xc21511EDd1E6eCdc36e8aD4c82117033e50D5921 |
| Redemption Vault | 0x5aeA6D35ED7B3B7aE78694B7da2Ee880756Af5C0 |