Market-Neutral USD Vault
Overview
The ether.fi Market-Neutral USD vault provides a simple way for users to earn from a diversified basket of market-neutral yield opportunities, while getting exposure to the Ether.Fi ecosystem.
Users can deposit USDC, USDT, DAI, and USDe, which is then deployed to an evolving set of blue chip DeFi protocols. Initially the vault will utilize AAVE, Curve/Convex, Gearbox, and Pendle. As the vault scales, new yield sources such as Uniswap V3, Morpho Blue, Aura/Balancer may be added.
The vault is built using the Veda infrastructure. The strategy for the vault is provided by Seven Seas, with risk monitoring performed by the IntoTheBlock system.
Technical Documentation
The Ether.Fi Market-Neutral USD vault was built using the Veda architecture. At a high level, the architecture uses a Merkle verification system to enforce constraints on the vault strategies: with every rebalance, the strategist must submit a Merkle proof demonstrating that the rebalance respects certain constraints. These constraints include only interacting with certain whitelisted protocols, assets, and even contract functions.
For more details on the smart contract architecture, see https://docs.veda.tech/
The initial set of supported protocols include:
Ethena
AAVE
Pendle
Gearbox
Convex/Curve
Morpho Blue
Spark
Supported strategy assets include:
USDe
USDC
USDT
DAI
sDAI
PYUSD
FRAX
The vault utilizes the ITB risk monitoring system to interact with protocols Aave, Gearbox, and Convex/Curve. The ITB contracts are listed below.
Audits & Contract Deployments
Audits
https://github.com/Se7en-Seas/boring-vault/tree/main/audit
Contacts:
Vault contract: 0x08c6F91e2B681FaF5e17227F2a44C307b3C1364C
Manager: 0xcFF411d5C54FE0583A984beE1eF43a4776854B9A
DecoderAndSanitizer: 0x281a8621699667671A047E91Bb3dFdC331ea0Ea5
Teller: 0x221Ea02d409074546265CCD1123050F4D498ef64
Accountant: 0xc315D6e14DDCDC7407784e2Caf815d131Bc1D3E7
Lens: 0x5232bc0F5999f8dA604c42E1748A13a170F94A1B
ITBDecoderAndSanitizer: 0x7fA5dbDB1A76d2990Ea0f3c74e520E3fcE94748B
RolesAuthority: 0xaBA6bA1E95E0926a6A6b917FE4E2f19ceaE4FF2e
ITB Aave USDT: 0x9c62cB41eACe893E5cc72C0C933E14B299C520A8
ITB Aave USDC: 0xa6c9A887F5Ae28A70E457178AABDd153859B572b
ITB Gearbox USDC: 0x9e7f6dC1d0Ec371a1e5d918f1f8f120f1B1DD00c
ITB Convex PYUSD-USDC-f: 0x5036E6D1019BF07589574446C2b3f57B8FeB895F
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