General Documentation
  • 📜INTRODUCTION
    • Protocol Overview
  • 🔷The Second Fold (V2)
    • Getting Started
    • What's New in V2
    • How Does a Leveraged Origami Vault Work?
      • Targeted Exposure
      • Rebalancing Down
      • Rebalancing Up
      • Vault Limits
    • Collection and Vault User Guides
      • What Are Collections?
        • lovBERA Collection
          • oriBGT
            • Vault Synopsis
            • Token Flow
            • dApp Instructions
            • Fee Schedule
          • oriBGT Smart Leverage (Tulipa Cluster)
            • Vault Synopsis
            • Token Flow
            • dApp Instructions
            • Fee Schedule
          • OHM-HONEY (Origami LP Auto-Compounder)
            • Vault Synopsis
            • Token Flow
            • dApp Instructions
            • Fee Schedule
          • rUSD-HONEY (Origami LP Auto-Compounder)
            • Vault Synopsis
            • Token Flow
            • dApp Instructions
            • Fee Schedule
          • BYUSD-HONEY (Origami LP Auto-Compounder)
            • Vault Synopsis
            • Token Flow
            • dApp Instructions
            • Fee Schedule
          • wBERA-iBERA (Origami LP Auto-Compounder)
            • Vault Synopsis
            • Token Flow
            • dApp Instructions
            • Fee Schedule
          • wBERA-HONEY (Origami LP Auto-Compounder)
            • Vault Synopsis
            • Token Flow
            • dApp Instructions
            • Fee Schedule
          • wBERA-iBGT (Origami LP Auto-Compounder)
            • Vault Synopsis
            • Token Flow
            • dApp Instructions
            • Fee Schedule
          • iBERA-osBGT (Origami LP Auto-Compounder)
            • Vault Synopsis
            • Token Flow
            • dApp Instructions
            • Fee Schedule
        • lovPendle Collection
          • PT-sUSDe-May 2025 7x
            • Vault Synopsis
            • Token Flow
            • dApp Instructions
            • Fee Schedule
        • lovEthena Collection
          • PT-sUSDe-May 2025 7x
            • Vault Synopsis
            • Token Flow
            • dApp Instructions
            • Fee Schedule
        • lovStables Collection
          • Sky Auto-Farm
            • Vault Synopsis
            • Token Flow
            • dApp Instructions
            • Fee Schedule
        • lovUsual Collection
          • USD0++ 10x
            • Vault Synopsis
            • Token Flow
            • dApp Instructions
            • Fee Schedule
        • lovETH Collection
          • wstETH 14x
            • Vault Synopsis
            • Token Flow
            • dApp Instructions
            • Fee Schedule
          • wstETH 11x
            • Vault Synopsis
            • Token Flow
            • dApp Instructions
            • Fee Schedule
    • Risks
      • Liquidation Risk
      • Third-Party Risks
      • Interest Rate / Liquidity Risk
      • Vault Deprecation Risk
      • Smart Contract Risk
    • Rewards
    • What Fees We Collect
      • Performance Fee
      • Deposit and Exit Fee
    • Vault Fee Schedule
    • Deprecated Vaults
      • wOETH 5x
        • Vault Synopsis
        • Token Flow
        • dApp Instructions
        • Fee Schedule
      • wstETH 11x
        • Vault Synopsis
        • Token Flow
        • dApp Instructions
        • Fee Schedule
      • PT-sUSDe-Oct 2024 5x
        • Vault Synopsis
        • Token Flow
        • dApp Instructions
        • Fee Schedule
      • USDe 5x
        • Vault Synopsis
        • Token Flow
        • dApp Instructions
        • Fee Schedule
      • USDe 7x
        • Vault Synopsis
        • Token Flow
        • dApp Instructions
        • Fee Schedule
      • lovTendies Collection
        • What are directional vaults?
        • wETH-DAI-long 2x (Vitalik Bullterin)
          • Vault Synopsis
          • Token Flow
          • dApp Instructions
          • Fee Schedule
        • wETH-SDAI-short 2x (Vitalik Bearterin)
          • Vault Synopsis
          • Token Flow
          • dApp Instructions
          • Fee Schedule
        • AAVE-USDC-long 1.5x (Just Use Aave)
          • Vault Synopsis
          • Token Flow
          • dApp Instructions
          • Fee Schedule
        • wETH-cbBTC-long 3x
          • Vault Synopsis
          • Token Flow
          • dApp Instructions
          • Fee Schedule
      • PT-sUSDe-Mar 2025 7x
        • Vault Synopsis
        • Token Flow
        • dApp Instructions
        • Fee Schedule
      • PT-USD0++-Mar 2025 5x
        • Vault Synopsis
        • Token Flow
        • dApp Instructions
        • Fee Schedule
      • sUSDe 5x
        • Vault Synopsis
        • Token Flow
        • dApp Instructions
        • Fee Schedule
      • sUSDe 7x
        • Vault Synopsis
        • Token Flow
        • dApp Instructions
        • Fee Schedule
      • sDAI 11x
        • Vault Synopsis
        • Token Flow
        • dApp Instructions
        • Fee Schedule
      • rswETH 11x
        • Vault Synopsis
        • Token Flow
        • dApp Instructions
        • Fee Schedule
      • weETH 4x
        • Vault Synopsis
        • Token Flow
        • dApp Instructions
        • Fee Schedule
      • lovBTC Collection
        • PT-eBTC-Dec24 8x
          • Vault Synopsis
          • Token Flow
          • dApp Instructions
          • Fee Schedule
        • PT-cornLBTC-Dec24 8x
          • Vault Synopsis
          • Token Flow
          • dApp Instructions
          • Fee Schedule
  • 🔷The First Fold (v1)
    • What Is an Origami Vault (ov)?
    • Origami Vault Tokens (ovTokens)
    • Origami Tokens (oTokens)
    • Relationship Between Token, oTokens, and ovTokens
    • Rewards
    • ovToken Fees
  • 🐻Boyco
    • Origami USDC Boyco Overview
  • 🖲️Technical Reference
    • Audits
    • Contracts
    • Legacy Contracts
    • Admin Controls
  • 📘References
    • Disclaimer
    • Resources
    • Brand Kit
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On this page
  1. The Second Fold (V2)
  2. Collection and Vault User Guides
  3. What Are Collections?
  4. lovETH Collection
  5. wstETH 11x

Vault Synopsis

The wstETH 14x vault accepts deposits denominated in wstETH.

The wrapped staked ETH token (wstETH) is the wrapped version for staked ETH on Lido Protocol. Lido generates ETH yield from its Proof of Stake (PoS) validator activities on the Ethereum network. Each stETH is backed by 1 ETH. The amount of stETH in circulation will rebase daily as staking rewards are distributed to the Lido validator network.

Since some DeFi protocols require a constant token balance, wstETH was created to improve composability. The Lido Protocol utilises an underlying reserve-to-share mechanic whereby the number of stETH that can be redeemed by 1 wstETH will grow over time. The user can wrap or mint new wstETH tokens using the then-current stETH price after which their wstETH balance is fixed. Then the user can deposit the wstETH tokens on other protocols for leverage or additional yield.

Users who wish to earn leveraged yield on wstETH via Lido may choose to deposit wstETH into the lov-wstETH vault. The wstETH 14x vault employs a delta-neutral strategy to leverage yield farming returns back to depositors. Depositors of the lov-wstETH Vault will receive a wrapped token (lov-stETH) representing their claim of vault reserve wstETH.

PreviouswstETH 11xNextToken Flow

Last updated 9 months ago

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