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Super OETH is one of the best ways to earn high yield on ETH. But what if you could take those returns and multiply them? With Ionic, you can do just that by leveraging your Super OETH yield. By looping your position, you can borrow against your Super OETH and reinvest it, creating a cycle that maximizes your rewards.
In this guide, we'll walk you through how to use Ionic to get the most out of your Super OETH. Let's dive in.
Ionic is a DeFi platform that allows users to lend, borrow, and loop assets to increase yield.
By depositing your Wrapped Super OETH (wsuperOETHb) as collateral on Ionic, you can borrow against it and then reinvest the borrowed funds to multiply your exposure.
We’ll break down the process into simple steps.
To get started, you need to bridge your funds to the Base network.
You can use cross-chain bridges like Symbiosis or Router Nitro for this. These platforms allow you to swap ETH from other networks to Base, where Super OETH operates. If you already have funds on the Base network, you can skip this step.
Keep in mind that you will need a small amount of ETH on Base for gas fees.
If you don't have Super OETH yet, the next step is to swap your ETH for Super OETH on a decentralized exchange like Aerodrome or directly on the Origin dapp. Once you have Super OETH, you will need to wrap it. Head over to the Origin dapp to wrap your Super OETH into wsuperOETHb.
This wrapped version of Super OETH is what you will use on Ionic for looping. Instead of using rebasing to accrue yield, wsuperOETHb increases in value relative to ETH. This means a 1 ETH swap to Wrapped Super OETH will result in less than 1 wsuperOETHb token, albeit the same value as 1 ETH.
Once you’ve wrapped your Super OETH, the next step is to deposit it on Ionic. Go to the Ionic market and locate the wsuperOETHb pool, or just click here.
Deposit your wsuperOETHb as collateral to start earning interest and to enable borrowing against it.
To do so, you can just hit the green “Supply” button as shown:
Once your deposit is confirmed, you can borrow assets like ETH against your wsuperOETHb collateral.
The easiest way to loop Super OETH is by using Ionic's built-in looping feature. Here, you can choose your leverage, deposit collateral, and Ionic will automatically loop your Super OETH for you.
To manually loop your position, you must borrow ETH against your wsuperOETHb collateral, use the borrowed ETH to acquire more Super OETH, wrap it into wsuperOETHb, and then deposit the new wsuperOETHb back into Ionic.
You can repeat this process to leverage your position up to 5x, depending on the Loan-to-Value (LTV) ratio, which is set at 80%.
Looping Super OETH is particularly advantageous compared to other assets because of its higher base yield and deep liquidity. Super OETH consistently provides higher APYs than other liquid staking tokens (LSTs), which allows you to maximize your earnings with each loop.
Additionally, Super OETH has the deepest liquidity on Aerodrome, meaning it has a tight peg to ETH. This is crucial because it minimizes the risk of liquidation and ensures that when you're ready to exit your position, you can do so at a 1:1 rate with ETH, avoiding any slippage.
By following these steps, you can effectively loop Super OETH on Ionic, multiplying your exposure and yield with minimal effort. With its high liquidity and superior APY, Super OETH stands out as the best choice for those looking to maximize returns in the DeFi space.
Super OETH is supported across various protocols on Base. To learn more about what you can do with Super OETH, check out our DeFi Opportunities Page.
