Clearpool YTs as a new yield source for DAI BY - Portofino


Treasury League


A proposal to add the Portofino Clearpool DAI Yield Tranches as a new yield source for the DAI Best Yield strategies.



After the recent exploit on Euler, Leagues have suggested to remove the Euler Yield Tranches from the basket of yield source of Best Yield strategies as a precautionary measure before a new audit is completed.

The current yield source of the Best Yield strategies would then be:

Strategy Token Underlying markets
Senior BY DAI Aave, Compound, Euler
Junior BY DAI Euler, Morpho


This proposal aims to add a new Clearpool Yield Tranche to the Best Yield strategies based on DAI:

Similar to previous Clearpool’s integration, Portofino’s one would benefit doubly the Idle users

Yield Tranches are live since December 2021 holding a cumulative TVL of up to $50m.

Portofino details

Portofino technologies is a high frequency trading market maker that uses the borrowed funds as trading capital, providing superior returns thanks to its advanced machine learning & stochastic control techniques.

Clearpool (Portofino) pool is live since early March. The Portofino pool has a size of ~$1m and a maximum borrowing capacity of up to $24m. Credora rates the borrower with an A.

Protocol Borrower Capacity Pool size Credora’s rating
Clearpool Portofino $24,300,000 962,740 A

At the time of writing, the Portofino pool provides 16.55% APR with an 81% utilization rate (source).

The pool will use the Peg Stability Model (PSM) of Maker DAO to swap 1:1 DAI to USDC, avoiding any slippage or impermanent loss risk.

Risk rating

Following the new version of the risk rating framework, the Clearpool (Portofino) Yield Tranches can be considered as a valid market to become a new yield source of the Best Yield strategies.

In order to trigger any BY deployment, the Yield Tranches will need to have at least a 30% coverage on Senior funds coming from the Junior counterparty.

Next steps

We are going to leave this thread open for comments regarding this proposal, and tomorrow, if there are no objections, we will open the temperature check.

1 Like

Temperature check voting

The voting phase to remove the Euler YTs and add the Clearpool Portofino YTs starts now :ballot_box:

  • Remove Euler Yield Tranches
  • Add Clearpool Portofino’s Yield Tranches
  • Both Actions
  • None of the above

:arrow_right: Poll for $IDLE holders: HERE
:arrow_right: Poll for $IDLE stakers (stkIDLE holders): HERE

:alarm_clock: Polls will close on 2023-04-11T18:00:00Z

The final $IDLE voting weights will be calculated using the approved calculator.

Looking to delegate your vote on Snapshot? Follow the official Snapshot guide.

Let your vote count! :writing_hand:

1 Like

Temperature check results

Temperature Check passed :white_check_mark:

The proposal to update the DAI BY’s underlying markets by removing the Euler YTs and adding the Clearpool (Portofino) YTs is now ready to hit the on-chain phase!