Token Flow
Last updated
Last updated
User deposits rswETH into the rswETH 11x vault for shares
User burns their rswETH 11x shares for rswETH when exiting
rswETH 11x deploys to Swell Protocol by holding rswETH reserves
rswETH 11x vault borrows WETH to swap into rswETH for 11x Effective Exposure
rswETH 11x shares are worth more rswETH as yield accrues
rswETH 11x captures 1x unlevered yield and 10x spread on yield after leverage
rswETH 11x farms 3x Black Pearls at 11x and 10x ORI
RebalanceDown triggers the rswETH 11x vault to borrow more WETH from the Morpho rswETH/WETH 94.5% LLTV Pool.
RebalanceUp to sell rswETH into WETH to pay down debt owed to the Morpho LP