Token Flow

Fig 32. Displaying the user flow for earning Ori Points at a long delta leveraged exposure to wETH with the wETH-cbBTC-long 3x vault.

1. Users deposit wETH into the wETH-cbBTC-long 3x vault for shares

2. Users burn their shares of wETH-cbBTC-long 3x for USDC when exiting

3. wETH-cbBTC-long 3x vault borrows cbBTC to swap into wETH for 3x Effective Exposure

4. wETH-cbBTC-long 3x vault supplies wETH to Spark Protocol

5. wETH-cbBTC-long 3x vault farms Ori Points at 10x

6. Rebalancing down triggers the wETH-cbBTC-long 3x vault to borrow more cbBTC using flashloans

7. Rebalancing up sells cbBTC into wETH to pay down debt owed to the Spark position