Summary
This SIP proposes integrating Origin’s eETH ARM vault into the ETH Mainnet (Higher Risk) vault in the Lazy Summer Protocol. This ARM has been live since October 2025 and recently opened to external depositors to use. This ARM is very similar to the Lido ARM, which has been one of the highest yielding arks for the ETH HR vault.
This vault provides instant ETH liquidity for eETH users with zero slippage. It earns yield by taking a redemption arbitrage - that is, buying discounted eETH from the market and then redeeming the eETH for ETH 1-1 using Etherfi’s withdrawal queue. In the four months since this vault was privately deployed, it has handled more than $6m in arbitrage volume. More details on this ARM can be found on the ARM docs and analytics page.
As with the updated Lido ARM, the eETH ARM also deploys idle liquidity to lending markets when it is not being used to purchase eETH at a discount, so that LP’s continue to earn a yield at all times. 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 eETH ARM product, adding a second ETH arbitrage strategy that can profit off of turbulent times, alongside existing ARKs.
- Attract new user types – Engages current ETH and eETH holders, deepening penetration into the ETH staking ecosystem.
- Increase TVL – Adds an ETH ARK, supporting Lazy Summer’s ETH vault growth objectives.
- Increased revenue Increased yield would directly drive value to SUMR token stakers
The eETH ARM’s 7, 14, and 30-day trailing yields are all higher than the blended yield of the HR ETH vault of 1.43% over 7 days and 3.67% over 30 days, onboarding this vault will immediately increase the blended yield of the HR ETH vault:
7-day trailing: 14.661% APY
14-day trailing: 10.189% APY
30-day trailing: 6.108% APY
Specification
| Parameter | Value |
|---|---|
| Vault | ETH – Higher Risk |
| Network | Ethereum Mainnet |
| New ARK | eETH ARM |
| Contracts | eETH ARM: Origin Protocol: ARM-WETH-eETH Token | Address: 0xfB0A3CF9...3E0FC58d2 | Etherscan |
| Risk Level | Higher Risk |
| $SUMR Rewards | In line with ETH Higher Risk SUMR Rewards |
The codebase for this ARM is largely the same as the audited stETH ARM codebase, so building the Ark for this ARM should be quicker and easier than building the Ark for brand new Arks. The only difference here is the code to do EtherFi specific withdrawals. This is the EtherFiARM contract: arm-oeth/src/contracts/EtherFiARM.sol at main · OriginProtocol/arm-oeth · GitHub
It inherits from AbstractARM which has all the ARM logic: arm-oeth/src/contracts/AbstractARM.sol at main · OriginProtocol/arm-oeth · GitHub
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