Upgrade of ETH Yield Vault
Overview
The ether.fi Liquid ETH vault is upgrading to Veda’s latest smart contract design, the same used for Liquid USD. No action required for existing Liquid ETH vault depositors.
The upgrade gives the following improvements:
Ability to operate on L2s
Easier and quicker integrations with DeFi Protocols to maximize rewards
Enhanced security features
To ensure a smooth experience, the upgrade will be done in two phases. Phase 1: Starting Wednesday, June 12
The existing Liquid ETH vault will gradually transfer its DeFi positions into the new Liquid ETH vault. This will take 7-14 days.
No user action is required
Users will continue to earn yields as normal
The new vault contract address is 0xf0bb20865277aBd641a307eCe5Ee04E79073416C
Vault contract audit: https://github.com/Se7en-Seas/boring-vault/tree/main/audit
Phase 2: Following Phase 1
Existing depositors in the ETH vault will not need to take any action if they wish to simply maintain their position in the vault
Old ETH vault depositors that wish to deposit more or partially withdraw from the vault will need to migrate to the new vault and will be prompted to do so at the time they take one of those actions. Full withdrawals do not require migration
All new deposits will go into the new vault
Understanding the new risk monitoring
As part of the Liquid ETH Vault migration, the infrastructure will include a new, enhanced set of risk monitoring capabilities
Previously, the existing vaults were protected using a series of risk monitoring alerts across the different protocols used in the yield strategies
Moving forward, the Liquid ETH Vault will not only monitor risk signals but also include actionable triggers to exit positions programmatically based on specific risk conditions
The risk management is based on economic risk conditions evaluated block-by-block for protocols and specific positions
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