Vault Synopsis

The PT-cornLBTC-Dec24 8x vault accepts deposits denominated in PT-cornLBTC-Dec24.

LBTC is a liquid staking token representing BTC staked on Babylon through Lombard and is backed 1:1 to BTC. As fully composable money lego, users are able to perform multiple functions such as depositing LBTC into lending pools for yield, collateralise the asset on leveraged trading platform or even provide LBTC liquidity on Dexes. The PT-cornLBTC-Dec 2024 is a PT token derivative on Pendle expiring on the 26th of December 2024.

The Origami PT-cornLBTC-Dec24 8x vault allows users to farm yield with 8x leverage. When the user deposits PT-cornLBTC-Dec24, the vault will fold the effective exposure to the underlying by borrowing PT-cornLBTC-Dec24 against the same PT-cornLBTC-Dec24 collateral in the ZeroLend PT-cornLBTC-Dec24 90% LLTV pool and swapping it for more PT-cornLBTC-Dec24 at no borrow cost. Origami provides an estimated implied APY based on what users are currently paying for the cornLBTC-Dec24 YT token on Pendle. See here for how we derive the implied APY from the Pendle YT Oracle.