Shape the future of Lazy Summer DAO. Cast your vote on active protocol upgrades and treasury allocations now.
1. Overview: As per the RFC; https://forum.summer.fi/t/rfc-offboard-low-usage-vaults-across-hyperevm-sonic-and-arbitrum/818, this SIP proposes to offboard all Fleets/Vaults from HyperEVM, Sonic and Arbitrum through setting deposit caps and fee's to 0. --- ### 2. Motivation: Since hitting 200M TVL, the Summer Protocol has struggled with issues within DeFi and users losing trust leaving their capital, as well as the low yields on offer due to the reducing demand of DeFi and leverage in general as the market has struggled since late summer last year (2025). As such, we now have a number of vaults with less than $100k TVL, and with less than 25 active users with > $100 deposited. For this reason, it is suggested to offboard these vaults. Also, with the current SUMR rewards ending on the 10th May, this feels a good time to address this concern, and focus SUMR rewards on those Vaults which drive the most TVL and activity. At present, the vaults in question would only represent 242,000 USD of TVL - less than 1% of the protocols TVL. Should DeFi and the markets start to recover, and activity/demand start to appear, these vaults can easily be reactivated simply by increasing the deposit caps and enabling new or existing markets and the automated rebalancer keepers. --- ### 3. Specification: The following will set all vaults across HyperEVM, Arbitrum and Sonic deposit caps and fee's to 0. For each Fleet, the Timelock Controller on each chain will also be set as Curator role in order to set deposit caps to 0. This will be removed again in a later proposal. |Fleet|USDC| | --- | --- | |Network|HyperEVM| |Contract Address|0x252e5aa42c1804b85b2ce6712cd418a0561232ba| |Deposit Cap|0| |Fee|0| |Fleet|USDT| | --- | --- | |Network|HyperEVM| |Contract Address|0x2cc190fb654141dfbeac4c0f718f4d511674d346| |Deposit Cap|0| |Fee|0| |Fleet|USDC| | --- | --- | |Network|Arbitrum| |Contract Address|0x71d77c39db0eb5d086611a2e950198e3077cf58a| |Deposit Cap|0| |Fee|0| |Fleet|USDT| | --- | --- | |Network|Arbitrum| |Contract Address|0x98c49e13bf99d7cad8069faa2a370933ec9ecf17| |Deposit Cap|0| |Fee|0| |Fleet|USDC| | --- | --- | |Network|Sonic| |Contract Address|0x507a2d9e87dbd3076e65992049c41270b47964f8| |Deposit Cap|0| |Fee|0| --- ### 4. Risk Assessment: No risks expected --- ### 5. Voting: A **YES** vote will execute Fleet/Vault updates across Arbtirum and Sonic, setting the deposit caps and Fee's to 0 across all vaults on those networks. A **NO** vote will not make any changes. HyperEVM will not be executed in this vote as the correct governance peers are not yet enabled.
1. Overview: This sub-SIP details the payouts to be made for previously approved referral campaign, detailed here: [[SIP5.5] Enable onchain referrals and update AdmiralQuarters contracts on all chains to support Referral Codes](https://forum.summer.fi/t/sip5-5-enable-onchain-referrals-and-update-admiralquarters-contracts-on-all-chains-to-support-referral-codes/202). The payouts are made on Base and include; * 33,400.1556 $SUMR * 68.226845 $USDC * Total recipients: 671 --- ### 2. Motivation: The Lazy Summer Protocol’s referral program (as introduced in [SIP5.5]) requires monthly settlement of rewards earned by referrers and referees. May referral period has concluded, and users have accumulated SUMR and USDC allocations based on activity tracked in the [Lazy Beach Club Dune Dashboard](https://dune.com/lazysummer/lazy-beach-club). This SIP is necessary to transfer the required tokens to MERKL and enable users to claim their rewards transparently and trustlessly. --- #### 2.1 Historical monthly metrics for context |**2025/26**|**July**|**August**|**September**|**October**|**November**|**December**|**January**|**February**|**March**|**-**|**May**| | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |Total SUMR|19,053.7651 SUMR|22,272.589 SUMR|40,582.388 SUMR|53,989.690 SUMR|52,967.722 SUMR|55,232.370 SUMR|58,981.345 SUMR|53,302.252 SUMR|59,531.763 SUMR|- SUMR|33,400.156 SUMR| |Total USDC|687.48 USDC|789.35 USDC|1,337.99 USDC|1,728.54 USDC|1,691.77 USDC|1,747.70 USDC|1,857.97 USDC|1,594.91 USDC|1,785.78 USDC| - USDC|68.23 USDC| |Total Recipients|227|334|419|547|569|579|666|679|672|-|671| --- ### 3. Specification: This SIP does **not** modify smart-contract logic. It authorizes: * Creation of a new MERKL campaign for May referral rewards. * Transfer of: * 33,400.156 SUMR * 68.23 USDC to the MERKL claims contract on Base. The payout distribution is predefined in the following .json , for both USDC and SUMR rewards: * [USDC](https://drive.google.com/file/d/1UMRDoYqUxfN9277pOyGzLcMgiUyP7PRf) * [SUMR](https://drive.google.com/file/d/1C44TMwpukpqCETPRwkRtSXDLqkiLQzMf) #### 3.1 Execution plan 1. Upon successful governance approval, and execution, the multisig triggers MERKL campaign creation. 2. SUMR and USDC amounts are transferred from the DAO treasury to the MERKL claims contract. 3. MERKL makes claims available for all eligible March participants. #### 3.2 Actors responsible Lazy Summer DAO - executes the MERKL campaign setup and performs token transfers, while MERKL handles distribution and claim logic. --- ### 4. Risk Assessment: **Technical Risk:** * Low. MERKL infrastructure has been user for prior referral payouts without issue. * Mitigation: Standard verification of token amounts and campaign parameters before vote. **Economic Risk:** * Minimal. Payouts were already committed under [SIP5.5] and reflect earned rewards. **Governance / Operational Risk:** * Requires accurate execution by the DAO. * Mitigation: Public spreadsheet, onchain transparency, and reproducible calculations. --- ### 5. Voting: > If **YES** - Approve SUMR and USDC disbursement to eligible May participants. > If **NO** - Do not disburse for May; continue with further discussion. --- Tagging @Recognized_Delegates for a check up as always. --jensei
1. Overview: This proposal continues the delegate compensation program first approved in **[[SIP5.6]](https://forum.summer.fi/t/sip5-6-retroactive-compensation-for-delegates/229)**, this time applying it to **May 2026**. The goal is to sustain high-quality governance engagement and reward meaningful participation from active delegates across Lazy Summer Protocol governance. Starting from April 2026, the Lazy Summer DAO has approved of Delegate Rewards Framework V2 via https://forum.summer.fi/t/sip5-23-delegate-rewards-framework-v2/793 - with the month of May following the newly setup guidelines for rewards distribution. > Extending **[[SIP3.11.7]](https://forum.summer.fi/t/sip3-11-7-delegate-rewards-distribution-april/)** (April Distribution) to **[SIP3.11.8]** (May Distribution). This proposal includes the 5th distribution of rewards to [Aerodrome Metagovernance](https://forum.summer.fi/t/sip5-18-aerodrome-metagovernance/652) signers. --- ### 2. Motivation: Active and accountable delegates remain a cornerstone of protocol governance. May 2026 focused on vault rewards emissions, SUMR staking rewards distribution, setting up deposit caps for dao-risk-managed ETH vault, and adding Origin OUSD ark. Compensating delegates for their time and contributions ensures continued accountability and engagement. --- ### 3. Specification: |**Item** | **Value**| |--- | ---| |Rewards Token | **[SUMR](https://basescan.org/token/0x194f360D130F2393a5E9F3117A6a1B78aBEa1624)**| |Delegate Rewards | 551,217.27 SUMR| |Source of Delegate Rewards | Delegate Rewards **[Multisig](https://basescan.org/address/0x9a218f744EE78E7a84e1C28acbcc2ce5cC72Bb0E)** (Base)| |Aerodrome Signer Rewards | 229,673.86 SUMR + 500 USDC| |Source of Aerodrome Signer Rewards | Lazy Summer **[DAO Treasury](https://basescan.org/address/0x447bf9d1485abdc4c1778025dfdfbe8b894c3796)** (Base)| |Total Distribution Amount | **780,891.14 SUMR & 500 USDC**| |Distribution Schedule | One-time disbursement following onchain approval| |Eligibility Period | May 1st – May 31th (2026)| |Distribution Method | Direct transfer to verified delegate wallet addresses| #### 3.1 Aerodrome Metagovernance Stipend As covered in the [**[SIP5.18]**](https://forum.summer.fi/t/sip5-18-aerodrome-metagovernance/652) the Aerodrome Metagovernance signers requested to include a monthly payment. Labs Co team members (@chrisb, @halaprix, @jensei) has confirmed waiver of their stipend - therefore, the DAO spending on monthly payment now includes @MasterMojo and @Sixty in May delegate rewards distribution. ##### 3.1.1 Stipend Calculation Methodology 1. **Daily Prices & Volumes Used** | Date | Volume (USD) | Close Price (USD) | | ---------- | -----------: | ----------------: | | 2026-05-06 | 3,677.71 | 0.00193524 | | 2026-05-07 | 1,898.80 | 0.00234942 | | 2026-05-08 | 17,563.62 | 0.00232230 | | 2026-05-09 | 2,564.38 | 0.00232259 | | 2026-05-10 | 375.79 | 0.00223431 | | 2026-05-11 | 561.73 | 0.00218562 | | 2026-05-12 | 268.83 | 0.00229696 | | 2026-05-13 | 44.00 | 0.00214259 | | 2026-05-14 | 21,341.00 | 0.00214861 | | 2026-05-15 | 929.85 | 0.00201926 | | 2026-05-16 | 2,121.79 | 0.00202239 | | 2026-05-17 | 422.53 | 0.00207100 | | 2026-05-18 | 73.27 | 0.00201721 | | 2026-05-19 | 137.96 | 0.00198124 | | 2026-05-20 | 834.12 | 0.00190266 | | 2026-05-21 | 1,197.50 | 0.00187461 | | 2026-05-22 | 783.16 | 0.00189323 | | 2026-05-23 | 93.92 | 0.00188097 | | 2026-05-24 | 554.15 | 0.00186134 | | 2026-05-25 | 259.29 | 0.00183417 | | 2026-05-26 | 529.73 | 0.00185076 | > ***Source dataset:** CoinGecko [historical export](https://www.coingecko.com/en/coins/summer-2/historical_data?start=2026-05-06&end=2026-05-26).* 3. <strong>Volume-Weighted Average Trading Price (VWAP)</strong> For VWAP we need price×volume. We will exclude first and last 5 days of the month from the VWAP weighting* (meaning VWAP is for May 05-26). `VWAP (May 05–26) ≈ $0.002177` 4. Convert $250 to SUMR * 250/0.00293 ≈ **114,836.93 SUMR** 5. Transfer **250 USDC** to each signer to lift up the strain on SUMR in the DAO Treasury (Total **500 USDC**). --- ### 4. Risk Assessment: * Onchain vote will authorize SUMR disbursement from the DAO Treasury to Aerodrome Signers. * Delegate rewards according to the framework V2 will be disbursed from the Delegate Rewards Multisig established for this purpose. * Delegate participation data was sourced from the **[Lazy Summer Governance Dashboard](https://dune.com/lazysummer/lazy-summer-dao-governance)**. * The final delegate list and breakdown is made publicly available **[here](https://docs.google.com/spreadsheets/d/e/2PACX-1vTOcW98nSMK1XdSVZ268c3M6MCqY-xvlr7Ji1GUjk0v9V_iXJfrpqE1wxJW1JcvRAaSb6LApoz3xonx/pubhtml#gid=7348449)**. * The final delegate PRS Score analysis was delivered by @Curia and can be found **[here](https://docs.google.com/spreadsheets/d/1ScrWnNLQaRvBxaq9dDONcHu58cA6sRuCZmwwgF9QNJY)** * Any entity may only receive compensation through a single verified delegate address. * Suspected Sybil delegates will be excluded, subject to verification by @Recognized_Delegates and @Curia. --- ### 5. Voting: > If **YES** - Approve `229,673.86 SUMR` & `500 USDC` disbursement to Aerodrome Metagovernance **May** signers. Delegate Rewards `551,217.27 SUMR` will be distributed via [multisig](https://basescan.org/address/0x9a218f744EE78E7a84e1C28acbcc2ce5cC72Bb0E). > If **NO** - Do not compensate for **May**; continue with further discussion. --- Tagging @Recognized_Delegates for a check up as always. –jensei
**1. Overview:** This SIP proposes the payout, via Merkl, of 3,015.16 USDC as LVUSDC to those users who have staked SUMR tokens in the SUMR Staking V2 at any point throughout May 2026. This follows similar SIPs paying out previous months, since the launch of the SUMR Staking V2 in December 2025. Throughout May 2026, the Lazy Summer Protocol made $15,075.78 of revenue, made up from the following networks; * Ethereum → $13,447.20 * Base → $1,425.42 * Arb → $95.30 * Sonic → $46.26 * HyperEVM → $61.60 As per the outlined launch parameters for Summer Staking V2, 20% of this should be paid out to stakers of the SUMR token, representing 3,015.16 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 **3,108.41USDC.** 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: 3,108.41 USDC Total LVUSDC being minted and transferred to Merkl: Reward amount paid out: 3,015.16 USDC worth of LVUSDC Start timestamp: 1777590000 (1-May-2026 00:00:00 UTC) End timestamp: 1780268400 (1-June-2026 00:00:00 UTC) Full data can be seen once the vote has been posted and full details of the LVUSDC amounts will be declared. --- ### **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 3,108.41 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.
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.