Executive summary
In this proposal, the Chorus One team is asking the StakeWise DAO to enable 100% osETH minting capability for the Chorus One - MEV Max Vault on the Ethereum Chain. The Vault meets all of the recently approved criteria around the TVL, fee level, and performance metrics on Ethereum, has been upgraded to version 3, and the team is ready to put forward the 5M SWISE bond required for enabling 100% LTV in the Chorus One - MEV MAX Vault on Ethereum.
Motivation
The Chorus One team is requesting StakeWise DAO permission to enable 100% osETH minting for the Chorus One - MEV Max Vault. As a trusted and experienced operator in the staking ecosystem, Chorus One is well-positioned to maximize the value of this feature. Granting this capability would boost StakeWise DAO Treasury growth through increased osETH minting, unlocking potential for integrations, restaking, and efficient DeFi strategies.
Chorus One has been instrumental in driving growth and adoption for StakeWise through strategic initiatives like integrating StakeWise v3 into their OPUS Pool SDK, directly contributing to TVL and simplifying access for wallets and exchanges. Chorus one has supported the protocol with strategic investments, collaborative marketing campaigns, and partnerships, including efforts to onboard institutional clients. Our promotion of StakeWise within the ecosystem and alignment with its decentralization and restaking goals demonstrate Chorus One’s commitment to enhancing the protocol’s visibility, adoption, and long-term success. By enabling StakeWise Boost on the Chorus One - MEV Max vault, Chorus One aims to further amplify these efforts and maximize rewards for all stakeholders.
Here’s a breakdown of how Chorus One’s Vault satisfies the DAO requirements:
| Criterion | Required | Actual | Pass |
|---|---|---|---|
| Vault Fee | 5% | 5% | Yes |
| Vault Version | 3 (highest) | 3 | Yes |
| TVL | > 10K ETH | 20.89K ETH | Yes |
| Performance | Top 50% | Top 50% | Yes |
| Bond | 5M SWISE | 5M SWISE | Yes |
Specification
Enabling 100% osETH minting for the Chorus One - MEV Max Vault requires the addition of the Vault address to the os_token_vaults config, an upgrade to the LTV of the Chorus One - MEV Max Vault, and deactivation of liquidations for the Vault. The transactions below seek to do just that upon successful resolution of this proposal.
Transaction
[ { "to": "0x287d1e2A8dE183A8bf8f2b09Fa1340fBd766eb59", "operation": "0", "value": "0.0", "data": "0x95f1fd4a000000000000000000000000e6d8d8ac54461b1c5ed15740eee322043f696c080000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000ffffffffffffffff0000000000000000000000000000000000000000000000000de05bc096e9c000" }, { "to": "0x6B5815467da09DaA7DC83Db21c9239d98Bb487b5", "operation": "0", "value": "0.0", "data": "0x8a76984d0000000000000000000000000000000000000000000000000000000000000020000000000000000000000000000000000000000000000000000000000000002e516d4e56445937766477774873766a317637486d71426e6138446b386e7872765266695378784768486e50337276000000000000000000000000000000000000" } ]Vote
The Snapshot vote is here: Snapshot