As the Flagship ETH vault continues to grow, Block Analitica & B.Protocol will submit a cap of 30k ETH to the bbETH Flagship vault WBTC (91.5%) market. The listing transaction will be made in 2 days and the market will be live once the 4 day timelock ends.
Rationale
Currently, the liquidity in the bbETH vault is allocated to wstETH (94.5%) market, with rETH (94.5%) and sDAI (86%) listed but with no allocations at this stage. Listing a WBTC market can help diversify the allocations of the vault and optimize its yield while maintaining the vault’s blue-chip exposure profile.
The Flagship bbETH vault main exposure will remain in wstETH collateral, as we start with a 30k WETH supply cap (~$100m at current ETH price) for the new WBTC market.
Market Parameters
Loan token: WETH - 0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2
Collateral token: WBTC - 0x2260fac5e5542a773aa44fbcfedf7c193bc2c599
Oracle: Morpho Chainlink - 0xc29B3Bc033640baE31ca53F8a0Eb892AdF68e663
IRM: Adaptive Curve IRM - 0x870aC11D48B15DB9a138Cf899d20F13F79Ba00BC
LLTV: 91.5%
SupplyCap: 30k WETH
LP Veto
As a reminder any LP that opposes a new supply cap being submitted can set a vote to veto the new cap following this tutorial and using this Snapshot space for the bbETH vault.
For live accurate data on Morpho Blue and MetaMorpho refer to our dashboard.
For any questions or feedback feel free to contact us here or on our social platforms.