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SIP2.47: Add 1 Ark to LazyVault_HigherRisk_USDC Fleet on mainnet ## Summary This is a cross-chain governance proposal to add 1 new Ark to the existing LazyVault_HigherRisk_USDC Fleet on mainnet. ## Motivation Expanding this fleet with additional an Ark will enhance the protocol's capabilities on mainnet. ## Technical Details - Hub Chain: base (Production) - Target Chain: mainnet - Fleet Commander: 0xE9cDA459bED6dcfb8AC61CD8cE08E2D52370cB06 - Number of Ark to add: 1 ## New Ark Address 1. `0x1C354B455bEf33744397A561dC518A2a9F4f5bab` ## Specifications ### Actions This proposal will execute the following actions on mainnet: 1. Grant COMMANDER_ROLE to Fleet Commander for the Ark 2. Add the Ark to the Fleet Commander ### Cross-chain Mechanism This proposal uses LayerZero to execute governance actions across chains. ## References Discourse: https://forum.summer.fi/t/sip2-47-onboard-ousd-to-the-higher-risk-usdc-mainnet-fleet/665/7
1. Overview: Since the KELP Incident in Mid April, the Deposit Cap on the ETH DAO Managed Vault has been set to 0. Effectively disabling the Vault given all assets were deployed into the Fluid Lite market, which itself had no liquidity until Monday 18th May. Now that funds are being withdrawn from Fluid Lite, this Vault should be fully enabled again, with the setting of the Deposit Cap to 5,000 ETH (approx 10M USD) It should also be noted that the Fluid Lite market has also had it's cap set to 0 by the guardians in order to remove the possibility of new funds being re-added to this market in near term. --- ### 2. Motivation: While the deposit cap remains at 0, the Vault is effectively paused for any new users and only those wanting to withdraw with available liquidity can interact and keepers able to rebalance. This SIP proposes to re-enable the Vault back to full functionality. --- ### 3. Specification: |Parameter|Value| | --- | --- | |Fleet|ETH DAO Managed Vault| |Network|Ethereum| |Contract(s)|`0x0c1fbccc019320032d9acd193447560c8c632114`| |Function|`setFleetDepositCap (0xd902d41a)`| |Value|5000000000000000000000| --- ### 4. Risk Assessment: This action is not expected to introduce any additional risks to the Lazy Summer Protocol. --- ### 5. Voting: Voting **YES** will set the Fleet Deposit Cap to 5,000 ETH and re-enable deposits into the Vault. Voting **NO** will not make any changes to the Vault and it will continue to be blocked from any new deposits.
SIP2.47: Add 1 Ark to LazyVault_HigherRisk_USDC Fleet on mainnet ## Summary This is a cross-chain governance proposal to add 1 new Ark to the existing LazyVault_HigherRisk_USDC Fleet on mainnet. ## Motivation Expanding this fleet with additional an Ark will enhance the protocol's capabilities on mainnet. ## Technical Details - Hub Chain: base (Production) - Target Chain: mainnet - Fleet Commander: 0xE9cDA459bED6dcfb8AC61CD8cE08E2D52370cB06 - Number of Ark to add: 1 ## New Ark Address 1. `0x1C354B455bEf33744397A561dC518A2a9F4f5bab` ## Specifications ### Actions This proposal will execute the following actions on mainnet: 1. Grant COMMANDER_ROLE to Fleet Commander for the Ark 2. Add the Ark to the Fleet Commander ### Cross-chain Mechanism This proposal uses LayerZero to execute governance actions across chains. ## References Discourse: https://forum.summer.fi/t/sip2-47-onboard-ousd-to-the-higher-risk-usdc-mainnet-fleet/665/7
1. Overview: Since the KELP Incident in Mid April, the Deposit Cap on the ETH DAO Managed Vault has been set to 0. Effectively disabling the Vault given all assets were deployed into the Fluid Lite market, which itself had no liquidity until Monday 18th May. Now that funds are being withdrawn from Fluid Lite, this Vault should be fully enabled again, with the setting of the Deposit Cap to 5,000 ETH (approx 10M USD) It should also be noted that the Fluid Lite market has also had it's cap set to 0 by the guardians in order to remove the possibility of new funds being re-added to this market in near term. --- ### 2. Motivation: While the deposit cap remains at 0, the Vault is effectively paused for any new users and only those wanting to withdraw with available liquidity can interact and keepers able to rebalance. This SIP proposes to re-enable the Vault back to full functionality. --- ### 3. Specification: |Parameter|Value| | --- | --- | |Fleet|ETH DAO Managed Vault| |Network|Ethereum| |Contract(s)|`0x0c1fbccc019320032d9acd193447560c8c632114`| |Function|`setFleetDepositCap (0xd902d41a)`| |Value|5000000000000000000000| --- ### 4. Risk Assessment: This action is not expected to introduce any additional risks to the Lazy Summer Protocol. --- ### 5. Voting: Voting **YES** will set the Fleet Deposit Cap to 5,000 ETH and re-enable deposits into the Vault. Voting **NO** will not make any changes to the Vault and it will continue to be blocked from any new deposits.
Since the KELP Incident in Mid April, the Deposit Cap on the ETH DAO Managed Vault has been set to 0. Effectively disabling the Vault given all assets were deployed into the Fluid Lite market, which itself had no liquidity until Monday 18th May. Now that funds are being withdrawn from Fluid Lite, this Vault should be fully enabled again, with the setting of the Deposit Cap to 5,000 ETH (approx 10M USD) It should also be noted that the Fluid Lite market has also had it's cap set to 0 by the guardians in order to remove the possibility of new funds being re-added to this market in near term. --- ### 2. Motivation: While the deposit cap remains at 0, the Vault is effectively paused for any new users and only those wanting to withdraw with available liquidity can interact and keepers able to rebalance. This SIP proposes to re-enable the Vault back to full functionality. --- ### 3. Specification: |Parameter|Value| | --- | --- | |Fleet|ETH DAO Managed Vault| |Network|Ethereum| |Contract(s)|`0x0c1fbccc019320032d9acd193447560c8c632114`| |Function|`setFleetDepositCap (0xd902d41a)`| |Value|5000000000000000000000| --- ### 4. Risk Assessment: This action is not expected to introduce any additional risks to the Lazy Summer Protocol. --- ### 5. Voting: Voting **YES** will set the Fleet Deposit Cap to 5,000 ETH and re-enable deposits into the Vault. Voting **NO** will not make any changes to the Vault and it will continue to be blocked from any new deposits.
1. Overview: This SIP proposes the payout, via Merkl, of 3,858.90USDC as LVUSDC to those users who have staked SUMR tokens in the SUMR Staking V2 at any point throughout April 2026. This follows similar SIPs paying out previous months, since the launch of the SUMR Staking V2 in December 2025. Throughout April 2026, the Lazy Summer Protocol made $19,294.53 of revenue, made up from the following networks; * Ethereum → $16,639.01 * Base → $2,267.44 * Arb → $161.95 * Sonic → $96.15 * HyperEVM → $129.98 As per the outlined launch parameters for Summer Staking V2, 20% of this should be paid out to stakers of the SUMR token, representing 3,858.90 USDC This payout should be made via MERKL, who have kindly added support for weighted balances in the stSUMR token. Given that MERKL charges a 3% fee for rewards, the actual total being transferred from the DAO Treasury is **3,978.247422 USDC.** As per the original intention of the SUMR Staking V2, these rewards will be paid out as LVUSDC, which is USDC from a Lazy Vault on the Base Network. This means everyone staking SUMR will earn yield bearing USDC, which will start to accrue the yield from the moment the transaction executes. --- ### 2. Motivation: This Sub-SIP represents a monthly distribution of revenue share to SUMR holders staking in the Staking V2 Module. --- ### 3. Specification: Total being paid: 3,978.247422 USDC Total LVUSDC being minted and transferred to Merkl: Reward amount paid out: 3,858.90 USDC worth of LVUSDC Start timestamp: 1774998000 (1-April-2026 00:00:00 UTC) End timestamp: 1777589999 (30-April-2026 23:59:59 UTC) Full data can be seen once the vote has been posted and full details of the LVUSDC amounts will be declared. At the posting of this SIP, the [timelock controller on Base](https://basescan.org/address/0x447BF9d1485ABDc4C1778025DfdfbE8b894C3796) (the Lazy Summer DAO Treasury contract) has less than the required amount of USDC. As such, a request to the Lazy Summer Foundation will be posted alongside this SIP to bridge relevant assets from spoke chains (ETH, ARB, SONIC and HYPEREVM) to the hub chain, Base. --- ### 4. Risk Assessment: Given the payouts will occur through Merkl, which is already supported widely through the [Summer.fi](http://summer.fi/) UI and Lazy Summer Protocol, there are no additional risks expected from this SIP by using them as rewards. However, this will be the first time we have processed rewards in Lazy Vault receipt tokens. This has been communicated to the MERKL team, and the relevant lvusdc token has been whitelisted by the MERKL team on the Base Network. --- ### 5. Voting: A **YES** vote will execute the MERKL calldata, transferring 3,978.247422 USDC from the Base Timelock Controller to the USDC Vault on Base, which will then transfer the full amount to the MERKL claims contract, and make available the relevant amounts of LVUSDC to claim for users who staked SUMR during the period. A **NO** vote will not execute any additional code, and no USDC will be transferred, and no payouts will be made from this vote.