Summary:
This proposal aims to prepare for Symbiotic / Mellow’s upgrade by deprecating the existing Mellow strategy. Funds will be withdrawn from these strategies and redeployed into the newer version of the strategies.
About OPAP-10:
This proposal prepares for the recent upgrade of Symbiotic / Mellow. ETH will be fully withdrawn from the current Mellow wstETH Staking strategy and redeployed in the future to be compatible with the new Mellow and Symbiotic-related strategies.
Meanwhile, if this proposal is approved, the old Mellow wstETH Staking will be deprecated. The withdrawn ETH will be temporarily placed in the existing EigenLayer stETH Staking (but undeployed) for the benefit of integrating new strategies.
Proposed Fund Allocation:
- Lido Staked Ether (stETH)_EigenLayer: 87%
- Native Lending Pool_PMM: 1%
- Wrapped Liquid Staked Ether (wstETH)_Symbiotic: 0.00%
- Wrapped Binance Beacon ETH (wBETH)_Symbiotic: 12%
- Wrapped Liquid Staked Ether (wstETH)_Mellow_Symbiotic: 0.00%
Voting and Implementation:
- On Ethereum mainnet, STONE can be used to vote in favor or against this proposal, with the weight determined by the number of STONE used to vote.
- For: Implement this proposal
- Against: Do not implement this proposal
- The aim of this proposal is to offer transparency on StakeStone’s underlying assets; participation is not mandatory.
- This proposal will be implemented if it receives more affirmative votes than opposing votes at the end of the public notice period.
If no one votes for or against this proposal during the entire voting period, this proposal will not be implemented.
Description:
The current proposal is a tentative plan to address the Mellow and Symbiotic migration. The future allocation plan depends on the progress of Symbiotic strategies development.