wstETH Leveraged Long by Lido

wstETH is Lido’s non-rebasing liquid staking token for ETH. Holders earn Ethereum staking rewards via an increasing exchange rate, keeping their staked ETH liquid and composable across DeFi.

How the strategy works

This is a leveraged long on wstETH: you supply wstETH as collateral, borrow PYUSD against it on Morpho, and loop to increase exposure to ETH. Every cost and liquidation threshold is shown upfront before you confirm.

Strategy details

Collateral asset

Wrapped liquid staked Ether 2.0 (wstETH)

Borrowed asset

PYUSD

Issuer

Lido

Yield source

ETH Staking

Underlying

ETH

Category

ETH

Network

Ethereum

Protocol

Morpho

Live metrics

Collateral APY

2.34%

Net borrow APY

11.12%

Max leverage

7.0x

Default leverage

6.7x → -47.71% APY

Leverage ladder

1x 2.34% · 2x -6.44% · 3x -15.22% · 4x -24.00% · 5x -32.78% · 6x -41.56% · 7x(max) -50.34%

Oracle type

nav

Exit slippage

$100k 0.16% · $500k 0.17% · $1M 0.18% · $5M 0.23% · $10M 0.34%

as-of 2026-09-29T07:25:49.782Z — live snapshot. Live data (source of truth): https://api.spiralstake.xyz/v1/strategies?chainId=1

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