TLDR
- The vault unifies DeFi exposure (Aave, Ethena, Uniswap) for stETH.
- Users deposit (ETH, WETH, wstETH) and receive strETH to accrue rewards.
- It introduces Mellow Points as an additional incentive, with a tripled rate at launch.
Lido, the leading liquid staking platform for Ethereum, is expanding its ‘Earn’ ecosystem with the launch of its new yield vault: stRATEGY. This product aims to drastically simplify access to advanced decentralized finance (DeFi) strategies centered on stETH.
The main objective is to offer diversified exposure without the need to manage multiple positions. Lido launches stRATEGY Vault as a “single deposit” solution, where the vault automatically handles the allocation, monitoring, and rebalancing of funds.
Built on the Mellow Core infrastructure, the stRATEGY vault concentrates its initial operations on liquid and “battle-tested” protocols. This includes lending/looping strategies and liquidity provision on some of the largest DeFi platforms: Aave, Ethena, and Uniswap. The exact composition of the vault may evolve according to market conditions and risk parameters.
How does the stRATEGY vault work and what are Mellow Points?
The process for users has been simplified through Lido’s ‘Earn’ interface. Investors can deposit ETH, WETH, or wstETH (stETH must first be “wrapped” into wstETH). In exchange for their deposit, they receive “strETH” tokens, which represent their share in the vault and accrue the yield generated by the underlying strategies.
A key catalyst for this launch is the introduction of “Mellow Points.” strETH holders will accrue these points proportionally to the size of their investment and the time they remain in the vault.
To incentivize early adoption, Lido has activated a special promotion: during the first four weeks (from November 6 to December 3, 2025), points will accrue at a tripled rate (0.00075 points per dollar per hour).
Regarding costs, the vault applies a 1% annual platform (AUM) fee and a 10% performance fee on profits, which goes to Mellow. Both fees are reflected directly in the price of the strETH token.
This launch positions stRATEGY alongside other ‘Earn‘ offerings like GGV (focused on DeFi protocols) and DVV (focused on validator decentralization), expanding the options for stETH users to optimize their yield.
