You could be earning more than 14% APR on your $cmETH.

WOOFi is a leading DEX offering a diverse range of products, including earn vaults, simple swaps, cross-chain swaps, and perpetual futures. Our blog post for today will focus on its SuperCharger Vault product, which allows users to deposit assets like $mETH and $cmETH to unlock enhanced yields.

For the purpose of this guide, we’ll be focusing on $cmETH as our preferred asset.

What are Supercharger Vaults?

Supercharger Vaults allow users to deposit assets for liquidity management, delegating risk management like impermanent loss to the platform’s sPMM pool manager. The vaults earns yield primarily from borrowing interest paid by the pool manager, who can borrow up to 90% of the vaults' TVL to facilitate on-chain swaps.

With a 7-day settlement cycle, users can either make standard withdrawals or request instant withdrawals, subject to weekly limits and a small fee.

Here's how you can get started with your $cmETH on WOOFi for maximum capital efficiency and optimized rewards.

Step-by-Step Guide to Depositing $cmETH on WOOFi

Step 1: Accessing WOOFi

Start by visiting WOOFi’s official platform and connecting your wallet. Make sure your wallet is on Mantle Network, with $cmETH ready to deposit.

Step 2: Access $cmETH SuperCharge Vault

Next, navigate to WOOFi’s “Earn” tab. Below “Featured Vaults” is the Supercharger Vault, displaying pools of $cmETH and $mETH along with their associated APRs. Once you’ve selected the $cmETH Vault, you’re ready to deposit and stake.

Step 3: Deposit $cmETH and Stake

To deposit, enter the amount of $cmETH you’d like to provide single-sided liquidity in the WOOFi sPMM pool. After approving your transaction, you should now see $wecmETH in your wallet ($wecmETH is pegged 1:1 with $cmETH).

$wecmETH can be staked to earn $WOO rewards. To stake your $wecemETH, enter the amount you’d like and approve the transaction.

Step 4: Claiming Rewards

To withdraw your $cmETH and enjoy your rewards, simply navigate to the “Withdraw” tab to unstake your $wecmETH for $cmETH.

Do note that there are two types of withdrawals you can choose from:

1. Standard Withdrawal: These are requests submitted before 0:00 UTC the following Monday. Funds will be available no later than 0:00 UTC the following Tuesday.
2. Instant Withdrawal: To meet user’s urgent needs, the vault sets aside 10% of TVL at the beginning of each cycle. Users can withdraw their deposits immediately for a 1% withdrawal fee.

With these four simple steps, you can start earning enhanced APR on your $cmETH as well as additional $WOO rewards.

Do note that the exact same process can be done with $mETH. Simply navigate to the $mETH vault and repeat the above process.

Happy earning!