# Bybit USDC/USDT0 Yield Layer #### USDe Recursive Staking Strategy in Bybit USDC/USDT0 Yield Layer **Bybit USDC/USDT0 Yield Layer Workflows** * User deposits on Bybit Earn * Bybit consolidates deposits hourly and send all funds to vault address * Bridge USDT/USDC to Ethereum * Mint or swap USDT/USDC to USDe * Supply USDe to AAVE Core Market and borrow USDT * Mint or swap USDT to USDe and stake USDe to sUSDe * Supply sUSDe to AAVE Core Market and borrow USDT and then looping until reaching 2x leverage ### Risks Disclosure **Partner:** **AAVE/Bybit/Mantle/Ethena** * CIAN has an exclusive partnership agreement with AAVE and Ethena **Collateral Asset Situation: USDC/USDT0** * USDC/USDT0 can be borrowed by multiple coins, and there are currently no risky coins * Corresponding risk: No risk **Borrowed Asset Situation: USDC** * Lending and borrowing equilibrium * Corresponding risk: No risk **Liquidity and Deleveraging** * Immediate Exit Liquidity: USDe - 50M, sUSDe - 35M * Exclusive Exit Channel: N/A * Corresponding risk: No risk **USCC Yield Layer Actual LTV:** N/A * USDe Liquidation LTV is 72% and sUSDe Liquidation LTV is 75% * Corresponding risk: No risk **USCC & Superstate Transparency:** * Asset proof is traceable: * Corresponding risk: No risk ### Safety * Multi-Signature for Fund Allocation and Parameter Adjustments: Changes of fund distribution and parameters requires multiple approvals, safeguarding the decision-making process and smart contract’s security. * Complete Contract Implementation for Strategies: Employs full contract implementations for strategies instead of signature filters, enhancing both security and transparency. * Exchange Rate Limitations: Enforces strict internal limits on exchange rates to protect funds during transactions. * Rebalance Mechanism: The Rebalance Mechanism will be triggered when the LTV reaches 66.66%. This additional safeguard is implemented as a proactive measure to mitigate the risk of potential liquidation events, ensuring greater stability and protection for users in volatile market conditions\\ ### Transparent and Secure Governance CIAN uses a transparent and secure governance model to manage the yield layer: * Transparency: All strategies are implemented & executed through smart contracts, meaning every action is fully visible and verifiable by the community. * Flexibility: Our system is designed to quickly incorporate new strategies and adjust existing ones. Changes can be made swiftly and transparently, with a governance process that allows for community control through veto voting. * Security: The open nature of our strategies ensures they can be reviewed and audited by the community, minimizing risks and building trust.