Update Best Yield USDC, USDT, WETH yield sources


Treasury League


This proposal focuses on multiple initiatives: remove Euler Yield Tranches as yield sources of Senior and Junior Best Yield strategies on USDC, USDT and WETH pools.



The DAO recently voted to update the BY DAI pool yield sources. Now we want to discuss an update of the underlying markets for the Best Yield strategies on USDC, USDT and WETH.

The primary goals in relation to the affected strategies, i.e. Senior and Junior BY on USDC, USDT and WETH and the Euler YTs, are as follows:

  • Ensure a secure recovery process for users of Senior and Junior Yield Tranches. The current Euler Senior/Junior Yield Tranches will be deprecated upon allowing all depositors to redeem their funds. […]
  • Ensure continuity of Best Yield vaults. Despite the recent challenges with Euler, Senior and Junior Best Yield vaults will continue to operate as usual. The funds recovered from Euler and sent to Senior/Junior Best Yield vaults will be rebalanced across Compound/Aave/Morpho/Clearpool (accordingly to the underlying yield sources of each Best Yield vault) to maintain optimal performance.

Next Step

This proposal is at the foundation of the process to go back to normal activity and re-open the paused products. Recovered amounts will be redistributed across all the respective strategies, allowing users to regain access to standard deposit and redeem operations and reboot all strategies’ functionalities.

This post will be open for discussion, and tomorrow morning, if there are no objections, we will start the governance process with a temperature check leading to the next IIP.


Temperature check voting

The voting phase to remove the Euler YTs from the Best Yield strategies on USDC, USDT and WETH starts now :ballot_box:

  • For - Agree with the Euler YTs removal from BY on USDC, USDT and WETH
  • Against - Disagree with the Euler YTs removal from BY on USDC, USDT and WETH
  • Discuss more - Discuss more the Euler YTs removal from BY on USDC, USDT and WETH

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

:alarm_clock: Polls will close on 2023-04-23T16:30:00Z

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:


Temperature check results

Temperature Check passed :white_check_mark:

The proposal to update the USDC, USDT and WETH BY’s underlying markets by removing the Euler YTs will be included in the next IIP!