---
# System prepended metadata

title: 'Vault Management Report: Week April 25th - May 2nd'

---

# 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*

