This vault optimizes yields for the Curve ETH+/ETH pool through Convex Finance. ETH+ is an ETH-denominated stablecoin from Reserve Protocol, designed to provide diversified ETH exposure with additional yield.
ETH+ is a Reserve Protocol RToken (reserve token):
Backed by a basket of ETH-denominated assets
May include wstETH, rETH, and other ETH LSDs
Diversifies liquid staking risk
Automatically rebalances between components
Governed by RSR stakers
Reserve Protocol Mechanics
Reserve Protocol allows creation of asset-backed currencies:
RTokens backed by configurable baskets
Overcollateralized with RSR insurance
Automatic rebalancing
Governance-controlled composition
Fee Structure
Standard Convex fees:
16% of CRV rewards
No deposit/withdrawal fees
ETH+ may have its own fee structure for basket management.
Risk Disclosures
Smart Contract Risk: Exposure to Curve, Convex, Reserve Protocol, and all ETH+ basket component contracts.
Basket Risk: ETH+ value depends on all underlying basket assets. Issues with any component affect ETH+.
LSD Risk: If ETH+ contains liquid staking tokens, validator slashing could affect value.
Reserve Protocol Risk: Newer protocol with complex mechanics. Less battle-tested than simple LSDs.
Governance Risk: ETH+ composition can be changed by RSR stakers.
Correlation Risk: All basket components are ETH-denominated. ETH price drops affect total value.
Complexity Risk: Multiple layers of abstraction make risk assessment challenging.
Disclaimer: APY and TVL figures are based on on-chain data and may fluctuate. Past performance does not guarantee future results. DeFi investments carry smart contract, market, and liquidity risks. This content is for informational purposes only and does not constitute financial advice. Always conduct your own research before investing.
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