Introducing Seamless WETH Vault

[gauntlet]

Hello Seamless community,

Gauntlet is pleased to continue building with Seamless with the launch of a third Morpho vault: the Seamless WETH Vault. The first two Gauntlet-curated Seamless vaults, Seamless USDC and Seamless cbBTC, experienced strong growth within weeks of launch, both quickly surpassing $10M in TVL.

As noted in our introductory forum post, we believe that Seamless Morpho Vaults can bring a range of benefits to the Seamless community and pave the way for advanced lending vaults, offering versatility, risk-adjusted yield, and robust user capital efficiency.

Below, we outline the vault and market parameters for the Seamless WETH Vault.

Seamless WETH Vault Parameters

Vault name: Seamless WETH Vault

Vault ticker: smWETH

Vault Performance fee: 15%

Description: The Seamless WETH Vault curated by Gauntlet is intended to optimize risk-adjusted yield across high-demand collateral markets on Base. Learn more about Seamless’s Gauntlet curated Vaults curations in the forum.

Seamless WETH Vault - Market Params

cbETH/WETH/96.5 Market

Loan token: WETH - 0x4200000000000000000000000000000000000006

Collateral token: cbETH - 0x2Ae3F1Ec7F1F5012CFEab0185bfc7aa3cf0DEc22

Oracle: cbETH/ETH exchange rate - 0xB03855Ad5AFD6B8db8091DD5551CAC4ed621d9E6

IRM: Adaptive Curve IRM - 0x46415998764C29aB2a25CbeA6254146D50D22687

LLTV: 96.5%

SupplyCap: 5,000

cbETH/WETH/94.5 Market

Loan token: WETH - 0x4200000000000000000000000000000000000006

Collateral token: cbETH - 0x2Ae3F1Ec7F1F5012CFEab0185bfc7aa3cf0DEc22

Oracle: cbETH/ETH exchange rate - 0xB03855Ad5AFD6B8db8091DD5551CAC4ed621d9E6

IRM: Adaptive Curve IRM - 0x46415998764C29aB2a25CbeA6254146D50D22687

LLTV: 94.5%

SupplyCap: 5,000

wstETH/WETH/96.5 Market

Loan token: WETH - 0x4200000000000000000000000000000000000006

Collateral token: wstETH - 0xc1CBa3fCea344f92D9239c08C0568f6F2F0ee452

Oracle: wstETH/ETH exchange rate 0.5% - 0xB03855Ad5AFD6B8db8091DD5551CAC4ed621d9E6

IRM: Adaptive Curve IRM - 0x46415998764C29aB2a25CbeA6254146D50D22687

LLTV: 96.5%

SupplyCap: 1,700

wstETH/WETH/94.5 Market

Loan token: WETH - 0x4200000000000000000000000000000000000006

Collateral token: wstETH - 0xc1CBa3fCea344f92D9239c08C0568f6F2F0ee452

Oracle: wstETH/ETH exchange rate - 0x4A11590e5326138B514E08A9B52202D42077Ca65

IRM: Adaptive Curve IRM - 0x46415998764C29aB2a25CbeA6254146D50D22687

LLTV: 94.5%

SupplyCap: 5,000

weETH/WETH/91.5 Market

Loan token: WETH - 0x4200000000000000000000000000000000000006

Collateral token: weETH - 0x04C0599Ae5A44757c0af6F9eC3b93da8976c150A

Oracle: weETH/eETH exchange rate - 0xcE629400c6AEdb64f087CAC40Ae6a382AEEef490

IRM: Adaptive Curve IRM - 0x46415998764C29aB2a25CbeA6254146D50D22687

LLTV: 91.5%

SupplyCap: 1,000

wsuperOETHb/WETH/91.5 Market

Loan token: WETH - 0x4200000000000000000000000000000000000006

Collateral token: wsuperOETHb - 0x7FcD174E80f264448ebeE8c88a7C4476AAF58Ea6

Oracle: wsuperOETHb Base Asset conversion - 0x28C964c985fe84736fAdc7Cf0bBd58B54bc7CF93

IRM: Adaptive Curve IRM - 0x46415998764C29aB2a25CbeA6254146D50D22687

LLTV: 91.5%

SupplyCap: 1,500

bsdETH/WETH/91.5 Market

Loan token: WETH - 0x4200000000000000000000000000000000000006

Collateral token: bsdETH - 0xCb327b99fF831bF8223cCEd12B1338FF3aA322Ff

Oracle: bsdETH/ETH exchange rate - 0xD41310aCF5fA54CDd1970155ac32D708B376Dff6

IRM: Adaptive Curve IRM - 0x46415998764C29aB2a25CbeA6254146D50D22687

LLTV: 91.5%

SupplyCap: 1,500

wrsETH/WETH/94.5 Market

Loan token: WETH - 0x4200000000000000000000000000000000000006

Collateral token: wrsETH - 0xEDfa23602D0EC14714057867A78d01e94176BEA0

Oracle: wrsETH/ETH exchange rate - 0x55E6DE626D8b937782F08C8D3d9e54e340a78D0e

IRM: Adaptive Curve IRM - 0x46415998764C29aB2a25CbeA6254146D50D22687

LLTV: 94.5%

SupplyCap: 700

[Ras]

Given the success of two previous vault, this one should be awesome as well

[lewis]

Excited for the vault launch!

I proposed a transfer of ownership to Seamless for the cbBTC Vault (Reply here on the Seamless cbBTC Vault Discourse Post). Would similarly like to propose the same for the Seamless WETH Vault. This is in line with precedent set in SIP 39 having Seamless accept the transfer of ownership for the Seamless USDC Vault.

Open to the community’s thoughts here. Thank you!

[wes_fred]

I support this. Gauntlet initially deployed this vault on behalf of the Seamless community and has initiated the ownership transfer to the Seamless governance timelock contract

[richyRNG]

Sounds good yes I believe we should transfer the ownership to the DAO as was done with the USDC vault