1. Overview:
This SIP seeks to onboard one new yield strategy (ARK) to the existing USDT Lower Risk Vault on Ethereum Mainnet. This ARK allocates capital to a vault built on Morpho V2 infrastructure, which currently offers materially higher yields than the strategies currently deployed in the USDT fleet.
The strategy routes USDT liquidity into Morpho markets using sUSDS collateral, enabling the Lazy Summer Protocol to capture additional lending yield while maintaining exposure to high-liquidity, blue-chip DeFi primitives.
If approved, this new ARK will expand the strategy set available to the USDT vault, allowing capital to be dynamically routed toward these higher-yielding opportunities while maintaining diversification across strategies.
2. Motivation:
By integrating this ARK, the USDT vault can capture higher yields while maintaining exposure to well-established collateral assets. The strategies primarily interact with markets utilizing sUSDS collateral. This asset is part of the broader ecosystem surrounding the Sky protocol (formerly MakerDAO), which remains one of the most battle-tested lending ecosystems in DeFi. sUSDS collateral is already used across multiple approved ARKs in existing Lazy Summer deployments on Mainnet and Base
This new vault is also currently seeing higher yields due to Sky’s 150,000 USDT and 150,000 USDS rewards and incentives, which are being distributed to bootstrap liquidity. They are also incentivized by MORPHO rewards to further increase bootstrap liquidity across all V2 vaults.
3. Specification:
| Parameter | Value |
|---|---|
| Fleet | USDT Lower Risk |
| Network | Mainnet |
| New Ark | Sky.money USDT Savings |
| Contract | 0x23f5E9c35820f4baB695Ac1F19c203cC3f8e1e11 |
| Risk Level | Lower Risk |
4. Risk Assessment:
Risk assessment completed by Block Analitica 
5. Voting
-
Voting YES will whitelist the sky.money Morpho V2 vault as authorized ARKs for the Mainnet USDT LR Vault with initial risk caps set to 0 (to be adjusted post-Risk Review).
-
Voting NO will not onboard any new vault.