> 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/pt-usd0++-mar-2025-5x/token-flow.md).

# Token Flow

<figure><img src="/files/RFLiFuO9fYvTz2g8qqsb" alt=""><figcaption><p>Fig 28. Displaying the user flow for earning yield and Ori Points with the PT-USD0++-Mar 2025 5x vault.</p></figcaption></figure>

1. Users deposit PT-USD0++ into the PT-USD0++-Mar 2025 5x vault for shares
2. Users burn their shares of PT-USD0++-Mar 2025 5x for PT-USD0++ when exiting
3. PT-USD0++-Mar 2025 5x deploys to Pendle Finance by holding PT-USD0++ reserves
4. PT-USD0++-Mar 2025 5x vault borrows wrapped USDC to swap into PT-USD0++ for 5x Effective Exposure
5. PT-USD0++-Mar 2025 5x vault supplies PT-USD0++ to the [Morpho LP (91.5% LLTV Pool)](https://app.morpho.org/market?id=0x8411eeb07c8e32de0b3784b6b967346a45593bfd8baeb291cc209dc195c7b3ad\&network=mainnet\&morphoPrice=0.0)
6. PT-USD0++-Mar 2025 5x vault farms
   1. Native yield
   2. Ori Points at 30x (Season 2 Campaign)&#x20;
7. Rebalancing down triggers the PT-USD0++-Mar 2025 5x vault to borrow more USDC using flashloans
8. Rebalancing up sells PT-USD0++ into USDC to pay down debt owed to the Morpho pool