In the last allocation vote, the community voted the following distribution:
20% inside the spartan bucket
40% on stETH/ETH curve pool
40% on sETH/ETH curve pool
Because sETH is off peg often and long, has it become less suitable for capital deployment. The ETH allocation for the sETH pool is currently unused and parked in USF Fund I. Our exposure to LIDO has gone down a lot since the last vote, and is currently below 5k ETH.
Total ETH deployable for asset management is 27,494 ETH
Subtracting the 5k ETH that has exposure to LIDO, leaves 22,494 ETH that deployable in the stETH pool. Current allocation into the stETH pool is 14,367 ETH.
22,494 ETH-14,367 ETH= 9,127 ETH
I propose to allocate an additional 9,127 ETH to the stETH pool for more capital efficiency and a higher yield for the spartan bucket.
The allocation of the remaining 5K ETH is to be determined at a later point.