> For the complete documentation index, see [llms.txt](https://docs.origami.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.origami.finance/the-second-fold-v2/deprecated-vaults/lovbtc-collection/pt-cornlbtc-dec24-8x/vault-synopsis.md). # Vault Synopsis 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](https://app.pendle.finance/trade/markets/0xcae62858db831272a03768f5844cbe1b40bb381f/swap?view=pt\&chain=ethereum). 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](https://app.zerolend.xyz/reserve-overview/?underlyingAsset=0x332a8ee60edff0a11cf3994b1b846bbc27d3dcd6\&marketName=proto_mainnet_btc_v3) 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](/the-second-fold-v2/rewards.md#how-we-calculate-implied-apr-for-ethena-sats) for how we derive the implied APY from the Pendle YT Oracle. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.origami.finance/the-second-fold-v2/deprecated-vaults/lovbtc-collection/pt-cornlbtc-dec24-8x/vault-synopsis.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.