18% APY on wOETH? As the 1st blue-chip money market integration for Origin Ether, @MorphoLabs lets you borrow WETH against wOETH. 🔁 Users have taken advantage of the market to earn double-digit APYs, $OGN, and $MORPHO. Update on wOETH Morpho Market + how to get involved👇 So far, $3M has been borrowed and $1.75M in liquidity is available. In just over 2 weeks, the wOETH/WETH market on Morpho has accrued a total supply of $3.4M (1,000 WETH). Lenders earn OGN and MORPHO incentives on top of staking yield baked into the wOETH price. Metamorpho vaults have supplied ample liquidity for borrowing WETH. @Re7capital and @gauntlet_xyz are the primary liquidity providers, with over 500 WETH currently available to borrow against wOETH. Quick stats: 🔹Current borrow APY: 1.27% 🔹Current supply APY: 1.12% 🔹Max Loop APY: 18.2% Want to loop wOETH in one transaction? @contango_xyz is the place to do it. Swap ETH, stablecoins, and a variety of ERC-20 tokens directly to looped wOETH ⚡ Looping increases your exposure to wOETH up to 6.2x. Contango automates looping by swapping borrowed WETH for wOETH, redepositing the newly acquired wOETH on Morpho. Since wOETH increases in price relative to ETH, the wOETH/WETH market is a unique opportunity to leverage staking yield while minimizing liquidation risk. Want to loop wOETH but gas fees got ya down? ⛽️ wOETH is also supported on Arbitrum’s leading money market, @SiloFinance. Learn more about Silo Finance in our recent announcement below: