Token Flow
Last updated
Last updated
User deposits wstETH into the wstETH 14x vault for shares
User burns their wstETH 14x shares for wstETH when exiting
wstETH 14x deploys to Lido Protocol by holding wstETH reserves
wstETH 14x vault borrows WETH to swap into wstETH for 14x Effective Exposure
wstETH 14x shares are worth more wstETH as yield accrues
wstETH 14x captures 1x unlevered yield and 13x spread on yield after leverage
RebalanceDown triggers the wstETH 14x vault to borrow more WETH from the Aave LP
RebalanceUp to sell wstETH into WETH to pay down debt owed to the Aave LP