I recently increased the configuration weight of Onre and plan to build positions gradually.

I previously tested a plan where I invested 400u and then stopped— that was the first version of the exploration. Now the focus is on using the cyclic lending strategy on Kamino, which yields more interesting results.

The mechanism is actually not complicated: using ONyc as collateral, borrowing USDC to continue buying ONyc, forming a closed loop. The key is that the returns generated by ONyc itself are higher than the interest on USDC loans, which allows the final yield to be amplified to around 20%. In simple terms, it leverages the basic returns through leverage effects.

This strategy is still attractive for those who believe in the long-term development of the project — it can increase exposure and optimize returns through arbitrage of the spread. However, risks must also be carefully considered, as this high-leverage strategy requires close attention to collateralization ratios and liquidation thresholds.