With more than $3.6m in total borrows, the Morpho wOETH/WETH pool has been seeing sustained volume thanks to generous incentives and compounding opportunities.
Users can employ leveraged staking to maximize returns. This process involves minting wOETH, depositing it to the pool to borrow WETH, and using this WETH to mint more wOETH. Repeating these steps allows you to maximize position size and thus scale rewards earned from the pool.
Initially conceived as Oasis, Summer.fi spun out from MakerDAO, offering users a wide range of yield opportunities with automated DeFi strategies. Recognizing the growing demand for leveraged staking, Summer has developed a solution that allows users to loop pools seamlessly, with just a few clicks.
Summer.fi provides atuomated leveraged staking functionality in a carefully designed interface.
Users can deposit wOETH directly to the Morpho pool via Summer, and sit back while the protocol maximizes pool returns.
First, you’ll need to acquire wrapped OETH (wOETH). wOETH does not rebase – instead, the token accrues value relative to yield accrued.
Head over to Origin’s native dApp and connect your Web3 wallet to begin. You can swap ETH and OETH directly for wOETH. Additionally, you can bridge ETH or wOETH directly to Arbitrum in a single transaction.
Next, visit the official Summer.fi dapp and connect your Web3 wallet in the top right corner. Navigate to the Multiply tab and select the Morpho wOETH market.
Follow the prompts to create a Smart DeFi account and deposit your desired amount of wOETH. The dapp will display APYs and other relevant metrics to inform your strategy.
Leveraging wOETH on Summer allows you to maximize your leveraged staking returns through an accessible interface that addresses the pain points of manually looping funds.
Simply deposit funds and watch your wOETH grow as the protocol loops funds for you.
