# Vault Management Report: Week April 25th - May 2nd ## Weekly Indicators * TVL: $2.44B (-4.7%) * Unallocated TVL: $169.27M (-28.01%) * Unallocated TVL/TVL: 6.95% (-24%) * Average APR: 5.54% (+14.1%) * Standard deviation for APR: 0.256 (-15%) ## Vault detailed information ### Vaults with more than 10% unallocated assets: #### ETH - Vault: WETH yVault (0.4.2) - unallocated DR: 4_340 - unallocated assets: 42_391.95 WETH - unallocated value: $124_049_874.61 - Vault: YFI yVault (0.4.3) - unallocated DR: 10_000 - unallocated assets: 1_480.42 YFI - unallocated value: $26_526_671.20 - Vault: USDT yVault (0.3.5) - unallocated DR: 2_374 - unallocated assets: 19_128_636.44 USDT - unallocated value: $19_131_652.45 - Vault: WBTC yVault (0.3.5) - unallocated DR: 4_000 - unallocated assets: 306.40 WBTC - unallocated value: $12_137_222.18 - Vault: LINK yVault (0.4.2) - unallocated DR: 10_000 - unallocated assets: 243_369.05 LINK - unallocated value: $3_072_293.63 - Vault: UNI yVault (0.3.5) - unallocated DR: 10_000 - unallocated assets: 172_987.58 UNI - unallocated value: $1_412_616.59 - Vault: SUSHI yVault (0.4.3) - unallocated DR: 6_667 - unallocated assets: 313_633.20 SUSHI - unallocated value: $938_292.31 - Vault: WETH yVault (0.3.2) - unallocated DR: 4_000 - unallocated assets: 249.97 WETH - unallocated value: $731_481.55 - Vault: COMP yVault (0.4.3) - unallocated DR: 10_000 - unallocated assets: 2_654.93 COMP - unallocated value: $328_272.41 - Vault: WBTC yVault (0.3.1) - unallocated DR: 10_000 - unallocated assets: 0.06 WBTC - unallocated value: $2_387.83 *Total Unallocated TVL: $188_330_764.78* #### FTM *No vaults with more than 10% unallocated* ### Potential Strategies to be deployed or allocated assets: 1. USDC vault (0.4.3): Cleaning up and improve APR ![](https://i.imgur.com/W5h5lQb.png) * Notional Strategy with 0 DR and 0 credit. Active = False. Should we revoke/remove it? [link](https://yearn.watch/network/ethereum/vault/0xa354F35829Ae975e850e23e9615b11Da1B3dC4DE/strategy/0x9d42427830e617c7cf55050092e899569cee0233) * Same with old Balancer strategy. Should we revoke it/remove it? [link](https://yearn.watch/network/ethereum/vault/0xa354F35829Ae975e850e23e9615b11Da1B3dC4DE/strategy/0x7a32aa9a16a59cb335ffdee3dc94024b7f8a9a47) * Same with ssc_ib_udsc (old one). [link](https://yearn.watch/network/ethereum/vault/0xa354F35829Ae975e850e23e9615b11Da1B3dC4DE/strategy/0xf2bfe60f20685c45257b7f00b7e4068918cff740) * Move some assets from [GenLenderFlashMint Strategy](https://yearn.watch/network/ethereum/vault/0xa354F35829Ae975e850e23e9615b11Da1B3dC4DE/strategy/0xd4e94061183b2dbf24473f28a3559cf4de4459db) to [Tokemak](https://yearn.watch/network/ethereum/vault/0xa354F35829Ae975e850e23e9615b11Da1B3dC4DE/strategy/0x9aa08ba012b2f2c002bbc56a8c3ece5b3e8299d3) or [Angle](https://yearn.watch/network/ethereum/vault/0xa354F35829Ae975e850e23e9615b11Da1B3dC4DE/strategy/0xcfa730d6cd6568872c18101442228499229fb70e) strategies. **`Tokemak` and `angle` >5% APR**: * Increase `TokemakUSDC` DR to 3.5%. * Increase `StrategyAngleUSDC` DR to 2% reducing 1% from `ssc_usdc_ib`. (50% single-sided strategies) * Add another `Notional Strategy` with 1% allocation (~3M USDC), getting that from `ssc_usdc_ib`. Estimated APR: 4.1%. 2. Vault: WETH yVault (0.4.2): Cleaning up and improve allocation ![WETH Strategy Allocation](https://i.imgur.com/rZp1T8s.png) * Clone SSBv3 for the reth-weth pool. [Link](https://app.balancer.fi/#/pool/0x1e19cf2d73a72ef1332c882f20534b6519be0276000200000000000000000112). Estimated APR: 10%-26% (depending on veBAL). Liquidity of the pool: $17M. * This would imply to relax internal rule of at most 50% of assets allocated to single sided strategies. In this case: * `ssc_eth_steth`: 24.75% * `SSBv3 weth-steth`: 6% * `StrategystETHAccumulator`: 22.65% * `SSBv3 weth-reth`: 2% (~$8M) * **Total: 55.4%** * Increase allocation to `StrategyTokemakWETH` to 10%. Estimated APR 4%, TVL: $277M * Add 88MPH strategy (I believe this is on the way, allocation TBD). * Add 3-month Notional Strategy (up to 150 ETH). Estimated APY: 2.5%. * Remove the following inactive strategies: * `Rebalancer WETH JointProvider YFI-WETH`: non-active. * `SSBv2 WETH B-stETH-STABLE`: non-active. * `StrategyeCurveWETHSingleSided`: non-active. * `Rebalancer WETH JointProvider YFI-WETH`: non-active. * `Rebalancer WETH JointProvider YFI-WETH`: non-active. * `StrategysteCurveWETHSingleSided`: non-active. * `SingleSidedBalancer B-stETH-STABLEPool WETH`: migrated to a new one. * `StrategyeCurveWETHSingleSided`: non-active. * `StrategyGenericLevCompFarmWeth`: non-active. 3. Vault: YFI yVault (0.4.3): Cleaning up and improve allocation ![YFI Strategy Allocation](https://i.imgur.com/acEhoFR.png) * Add 88MPH strategy (I believe this is on the way, allocation TBD). Estimtaed APR: 5% * Remove the following inactive strategies: * `RebalancerYFI-WETH YFIProvider`: non-active. * `StrategyFiatDAOStakingYFI`: non-active. * `StrategyGenLevAAVE`: non-active. * `StrategyGenLevAAVE`: non-active. * `StrategyGenLevAAVE`: non-active. * `Rebalancer YFI JointProvider YFI-WETH`: non-active. * `Rebalancer YFI JointProvider YFI-WETH`: migrated to a new one. * `StrategyFiatDAOStakingYFI`: non-active. * `Rebalancer YFI JointProvider YFI-WETH`: non-active. 4. Vault: USDT yVault (0.3.5): Cleaning up and improve APR+Allocation ![Current Allocation](https://i.imgur.com/u9BfLgo.png) * Migrate vault to 0.4.3 and add router from 0.3.5 to 0.4.3. * Add `Stargate USDT` strategy: estimated APR 5.75% with 170M liquidity, with 1% (*Max $5M per security risk framework*) * Decide what to do with `StrategyAH2EarniUSDT`, current APR is low (~1%). Last two harvests yield around 1% and where the only two over the last 4 months. The strategy has $8M in funds. * Increase debt allocation towards `StrategyLenderYieldOptimiser`. APR ~3.5% over the last 5 harvests (almost weekly). Current liquidity of the pool: $1.3B. We can assign most of the unallocated TVL towards this one. In short, increase `StrategyLenderYieldOptimiser` DR to 35%. * Add 88MPH strategy (I believe it's on its way). Estimated APR: 3%. (Allocation TBD: most probably 2%, for security reasosn), leaving 2% without allocation. * Remove the following inactive strategies: * `SingleSidedCrvUSDT`: non-active. Maybe keep it if yields go up again? * `StrategyIdleidleUSDTYield`: non-active. Maybe keep it if yields go up again? * `SSBv2 USDT staBAL3`: migrated to new version * `SingleSidedBalancer staBAL3Pool USDT`: migrated to new version 5. Vault: SUSHI yVault (0.4.3): Improve Allocation ![Sushi Strategy Allocation](https://i.imgur.com/hVrCyZP.png) * Create new xSushi strategy where we deposit our sushi. High liquidity + >7% estimated APY. ([Source](https://app.sushi.com/analytics/xsushi?chainId=1)) * Increase debt allocation towards `StrategyLenderYieldOptimiser` that uses Iron Bank. Estimated APR ~7%, however liquidity is just over 20k SUSHI, so we cannot allocate more than 5% (other 20k SUSHI). * Remove the following inactive strategies: * `StrategyUniverseStaking`: non-active. * `StrategyInverseSushi`: non-active. * `StrategyLeagueDAOStakingSushi`: non-active. ## Partners' asks+requirements 1. Arbitrum Stablecoins (single-asset) vaults (Alchemix, Dopex, Vesta, Premia, Strips) 2. Euler strategy/vault (Euler) 3. FEI vault (could be incentivized by FEI DAO) 4. Recommendation for Alpaca strategies: high APR on Fantom (Sturdy) ## Tasks *First week, not applicable*