ETH+ Alpha DeFi Yield Strategy
Last update: Aug 19, 2025
Bracket is pleased to present the ETH+ Alpha DeFi DeFi Yield Strategy by Boreal. This vault is an upgrade to the inital ETH+ DeFi Yield 10% target rate strategy. Administrator: Boreal Deposits: Daily Withdrawals: Weekly (t+7) About the Strategy: The strategy deploys to vetted DeFi protocols seeking risk-adjusted ETH-denominated yields. When appropriate, the strategy will borrow stablecoins against ETH to generate dollar denominated yields and continually purchase ETH to maintain 1:1 parity. Its objective is to generate market-neutral returns in DeFi by capitalizing on yield opportunities while managing risk and limiting exposure to market volatility.
The administrator employs investment strategies adapted from traditional finance, such as liquidity provision, futures basis, yield arbitrage, and tactical leverage, to build robust systems designed to generate desirable risk-adjusted returns.
The approach focuses on leading Layer-1 and Layer-2 blockchains and protocols and relies on extensive risk management expertise developed over multiple market cycles, ensuring strong performance and security.
0x8C2527051D0E98ad09211749FafbE1Aa590c01B3
0x3588e6Cb5DCa99E35bA2E2a5D42cdDb46365e71B
brETH
wETH
Fees:
Performance
15%
Must exceed water mark for positive return
TVL
1.0%
Bracket platform flat fee
Source of yield:
Liquidity provisioning Identify the highest risk-adjusted yield opportunities by providing liquidity to leading decentralized exchanges and protocols
Futures basis Decentralized perps offer a basis premium to CeFi futures, while providing the opportunity to earn additional yield vs holding the spot
Yield arbitrage Risk infrastructure that maximizes capital efficiency safely via inexpensive tactical leverage against yield-bearing collateral
Special situations Actively seeks out opportunities to earn competitive yield while betting against assets with flawed fundamentals (eg, stablecoin depeg)
Enforced Capabilities: Policy Managed Wallet Address: 0x8C2527051D0E98ad09211749FafbE1Aa590c01B3 Funds movement is limited by the Bracket Protector for MPC wallets, the Policy Managed Wallet, with Bracket Platform serving as a policy administrator. Neither Bracket nor the fund manager/advisor can unilaterally withdraw funds out of this wallet. Funds are non-custodial and limited to the following protocols, assets, and bridges: Chains: Ethereum, Base, Arbitrum, Avalanche, Polygon, Optimism, Sonic Decentralized Exchanges (DEXs)
The strategy leverages top DEXs to enable efficient asset swapping, liquidity provision, and yield opportunities:
Uniswap v3: Versatile DEX with concentrated liquidity
1inch: Aggregates rates across DEXs for optimal pricing
Curve & Convex: Specialized in stablecoin trading with efficient liquidity
Balancer: Provides flexible liquidity pools
Aerodrome: Enhances liquidity and trading capabilities
Pendle: Tokenizes and enables trading of future yield
Umami: Focuses on providing sustainable and real yield strategies for DeFi users
Yieldnest: Enables cross-platform yield optimization by aggregating liquidity opportunities
Spectra: Integrates AI-powered optimization for liquidity provision and trading efficiency
Lending and Borrowing Protocols
The strategy optimizes capital efficiency by employing robust lending and borrowing protocols:
AAVE & Compound: Trustless lending and borrowing platforms
Morpho Blue: Enhances peer-to-peer lending efficiency
Dolomite: Combines lending with margin trading
Frax Lend: Focused on stablecoin lending
Moonwell: Decentralized lending and borrowing protocol native to the Base network, optimized for security and scalability
Silo Finance: A decentralized lending protocol that creates isolated lending markets to minimize risk between assets
Euler: A non-custodial DeFi lending protocol that enables permissionless borrowing and lending with innovative risk management
Leverage and Advanced Lending
The strategy incorporates advanced tools for leveraging positions and unique borrowing solutions:
Gearbox: Offers composable leverage solutions
Contango: Enables fixed-income and forward trading strategies
Beets (Beethoven X): A decentralized investment and trading platform built on Balancer, offering customizable liquidity pools and yield opportunities
Cross-Chain Bridges
The strategy integrates various cross-chain bridges:
Stargate, Optimism Bridge, Base Bridge, Avalanche Core Bridge: Secure and efficient cross-chain solutions
Debridge & Across: Fast bridges for low-latency transfers
CCTP: Circle-powered stablecoin transfers
Superbridge & Arbitrum Bridge: Flexible bridging options
Supported Assets
The strategy supports a wide range of assets for liquidity, stability, and innovation:
LSTs (Liquid Staking Tokens): stETH, wstETH, rETH, weETH, sfrxETH, cbETH, WBETH, METH, pufETH, liquidberaETH, ynETHx, stS, scETH, scUSD
Ethereum-Based Tokens: ETH, wETH.
Stablecoins: USDC, DAI, USDT, FRAXBP, TUSD, GUSD, LUSD, PYUSD, sDAI, USDS, USDe, USD0, crvUSD, USDR.
Other Lending/borrow assets: mwETH, GMWETH, Pendle PT
Other Native Tokens: OS, S
Other Wrapped Assets: wBTC: A wrapped version of Bitcoin for DeFi use cases on Ethereum, wOS, wS
Blockchain Networks
The strategy ensures interoperability by utilizing multiple blockchain networks: Ethereum, Polygon, Arbitrum, Optimism, Base, Avalanche, Sonic
Enforced Deposit and Withdrawal Policies: Note that withdrawals are locked during the NAV update period, daily 1:30pm EDT + ~2hrs.
Deposit Request
Daily, submit prior to 17:30 UTC (1:30pm EDT)
Deposit Processed
17:30 UTC (1:30pm EDT) + ~2hrs
Withdrawal Request
Submit prior to 17:30 UTC (2:00pm EDT)
Withdrawal Processed
Daily requests, but rolling weekly schedule. Submit prior to 17:30 UTC, (1:30pm EDT); available 7 days later + ~2hrs for processing
Initial Calendar Example
Initial Deposit Request
Aug 21st 17:30 (1:30pm EDT) + ~2hrs
Begins accepting deposits
Deposit Processed
Aug 21st 17:30 (1:30pm EDT) + ~2hrs
Cutoff by which time you need to deposit
First Withdrawal Request
>August 21st 17:30 (1:30pm EDT) + ~2hrs
Cutoff to request withdrawal
First Withdrawal Processed
August 28th 17:30 (1:30pm EDT) + ~2hrs. Reminder this is a 7 day rolling weekly schedule
When withdrawals will be processed and claimable. You'll have to manually claim on platform
Disclaimer: Dates listed above may be subject to change with or without notice. Supported assets, wallets, and/or protocols may be updated in line with Changing A Vault's Investment Policy rules. *Target rate for the vault is illustrative and the reported rate will depend on actual performance. Eligible users only, please see Terms and Conditions for more information.
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