> 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-ebtc-dec24-8x/token-flow.md).

# Token Flow

<figure><img src="/files/IUnCjLYTiYnabSI8NQvC" alt=""><figcaption><p>Fig 27. Displaying the user flow for earning PT-eBTC-Dec24 yield and Ori Points with the PT-eBTC-Dec24 8x vault.</p></figcaption></figure>

1. Users deposit PT-eBTC-Dec24 into the PT-eBTC-Dec24 8x vault for shares
2. Users burn their shares of lov-PT-eBTC-Dec24 8 for PT-eBTC-Dec24 when exiting
3. PT-eBTC-Dec24 8x deploys to Pendle Protocol by holding PT-eBTC-Dec24 reserves
4. PT-eBTC-Dec24 8x vault borrows PT-eBTC-Dec24 to swap into PT-eBTC-Dec24 for 8x Effective Exposure
5. PT-eBTC-Dec24 8x vault supplies PT-eBTC-Dec24 to the [ZeroLend LP (90% LLTV Pool)](https://app.zerolend.xyz/reserve-overview/?underlyingAsset=0xb997b3418935a1df0f914ee901ec83927c1509a0\&marketName=proto_mainnet_btc_v3)
6. PT-eBTC-Dec24 8x vault farms
   1. Pendle PT yield at 8x
   2. Ori Points at 2x&#x20;
7. Rebalancing down triggers the PT-eBTC-Dec24 8x vault to borrow more PT-eBTC-Dec24 using flashloans
8. Rebalancing up sells PT-eBTC-Dec24 into PT-eBTC-Dec24 to pay down debt owed to the ZeroLend pool