Summary
Use $710,849 from the Metronome Treasury to pay down debt on certain Vesper Optimism pools affected by the Sonne Finance exploit. This protocol to protocol assistance will allow Metronome to re-enable all operations on Metronome (Smart Farming, Synthetics).
Abstract
Following the exploit of Sonne Finance, certain Vesper pools on Optimism carry large amounts of debt making them inoperable, which directly impacts Smart Farming users on Metronome. This proposal outlines plans on the Metronome side to bring these pools back into full operation, so that Metronome users with Smart Farming positions on optimism can safely access their positions. Over 90% of the TVL affected in Vesper pools is attributed to Metronome Smart Farming, or ~ $700k.
Metronome routes large amounts of TVL through the affected Vesper pools (and is also thus affected by the Sonne exploit). Vesper Finance has a separate governance proposal outlining the financial contribution available to resume operation.
Should Vesper recover funds from the exploiter of Sonne, or through other remediation means, Metronome treasury will be paid back funds contributed.
Expectations
Between contributions from the Vesper Finance treasury, and the Metronome treasury, Metronome will be able to resume operations on Optimism, re-enabling the minting of synthetics, and re-enabling users to access Metronome Smart Farming on Optimism.
Specification
Pull $710,849 in total from four separate Metronome multi signature wallets (ETH, CRV, opETH, msETH-LP) and use funds to repay debt on affected Vesper Optimism pools.