Yield source

How profit is generated

This vault earns by buying sUSDe at a discount and realizing the spread via Ethena unstaking.

1

Buy staked USDe at a discount on a DEX.

Example: pay 9,997 USDe for 10,000 USDe worth of sUSDe.

2

Start the unstake process (7-day countdown)

3

Wait 7 days

4

Receive the full USDe value (get 10,000 USDe back)

5

Profit = 3 USDe (minus fees)

Target APY: ~15% annualized (or higher than staking)