Fig 18. Displaying the user flow for earning yield in the rswETH 11x vault.
1. User deposits rswETH into the rswETH 11x vault for shares
2. User burns their rswETH 11x shares for rswETH when exiting
3. rswETH 11x deploys to Swell Protocol by holding rswETH reserves
4. rswETH 11x vault borrows WETH to swap into rswETH for 11x Effective Exposure
5. rswETH 11x shares are worth more rswETH as yield accrues
6. rswETH 11x captures 1x unlevered yield and 10x spread on yield after leverage
7. rswETH 11x farms 3x Black Pearls at 11x and 10x ORI
8. RebalanceDown triggers the rswETH 11x vault to borrow more WETH from the [Morpho rswETH/WETH 94.5% LLTV Pool](https://app.morpho.org/market?id=0xcacd4c39af872ddecd48b650557ff5bcc7d3338194c0f5b2038e0d4dec5dc022\&network=mainnet\&morphoPrice=0.0).
9. RebalanceUp to sell rswETH into WETH to pay down debt owed to the Morpho LP
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