Treasury League and Development League
This IIP focuses on two proposals with the goal to update the DAI Best Yield’s underlying markets by removing Euler YTs and adding the Clearpool (Portofino) Yield Tranches.
1. Remove Euler as a yield source of Senior and Junior Best Yield strategies on DAI
On March 13th, Euler suffered an exploit by a hacker stealing around $200m of funds deposited in the protocol. Euler was one of the underlying markets below Best Yield strategies and Yield Tranches. Part of the funds deposited on Euler was then locked with users unable to withdraw their funds.
With the recent positive events leading to a full recovery of the stolen funds, we can start discussing the next steps of the strategies affected.
The current yield source of the Best Yield strategies would then be:
|Senior BY||DAI||Aave, Compound,
2. Clearpool YTs as a new yield source for DAI BY - Portofino
This proposal aims to add a new Clearpool Yield Tranche to the Best Yield strategies based on DAI:
- Clearpool DAI (Portofino) YTs, with specs available on GitHub here
The code for the IIP-33 can be found on GitHub here and consists of 1 action.
- 1 action to replace the Euler DAI staking wrapper with the Clearpool (Portofino)'s tranche as a Senior DAI BY yield source
Where the contract addresses are:
- Euler staking DAI AA YTs
- Clearpool (Portofino) DAI AA YTs
The temperature checks for the above proposals have already been successfully closed. We are going to open the on-chain voting phase right after the publication of this Idle improvement proposal.