[Proposal] New Strategy(ies) for WBTC v2 Vault

Summary

New strategy for v2 WBTC vault that deposits BTC into v1 oBTC Curve Vault.

Background

The v2 WBTC vault can have 20 concurrent strategies but is only leveraging one, yielding only ~5% at time of writing.

Motivation

The v1 Curve BTC vaults, specifically oBTC, have significantly better yield than the current v2 WBTC vault. This would allow for higher yields for the v2 vault.

Specification

Take WBTC from WBTC v2 vault and put it into oBTC v1 Curve vault. This would essentially be a copy of the StrategysteCurveWETHSingleSided currently being used in the v2 WETH vault (https://etherscan.io/address/0x2886971eCAF2610236b4869f58cD42c115DFb47A#code), but for WBTC.

I tried modifying the contract from the StrategysteCurveWETHSingleSided strategy, but my completely mediocre Solidity skills meant I was unable to figure out some of the intricacies.

Ideally there would be a separate strategy for every high-yielding v1 BTC vault. This would allow users to have less funds at risk if one of the pegs breaks compared to depositing all of their funds into one v1 vault.

4 Likes

Sounds like a good idea to me.

Not really sure how to go about having it implemented since I don’t have the coding skills, but thought I’d throw the idea out there for someone who actually knows what they’re doing to implement!

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