1. Overview:
This SIP relates to the RFC by @Sixty and the associated Risk Assesment by @BlockAnalitica to onboard one new yield strategy (ARK) to the existing USDC Higher Risk Vault on Ethereum Mainnet. This ARK allocates capital to a vault built on Morpho V2 infrastructure, which currently offers yields higher than the strategies currently deployed in the USDC HR fleet.
The strategy routes USDC liquidity into Morpho markets using stUSDS 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 USDC HR vault, allowing capital to be dynamically routed toward these higher-yielding opportunities while maintaining diversification across strategies.
2. Motivation:
By integrating this ARK, the USDC vault can capture higher yields while maintaining exposure to well-established collateral assets. The strategies primarily interact with markets utilizing stUSDS 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 USDS incentives 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 | USDC Higher Risk |
| Network | Mainnet |
| New Ark | Sky.money USDC Risk Capital |
| Contract | 0x56bfa6f53669B836D1E0Dfa5e99706b12c373ecf |
| Risk Level | Higher Risk |
4. Risk Assessment:
Risk assessment completed by Block Analitica 
Full assessment: [RFC] Onboard two Morpho V2 markets to Mainnet USDT fleet - #4 by BlockAnalitica
5. Voting
- Voting YES will whitelist the sky.money Morpho V2 vault as authorized ARKs for the Mainnet USDC HR Vault with initial risk caps set to 0 (to be adjusted post-Risk Review).
- Voting NO will not onboard any new vault.
Tagging @Recognized_Delegates
