This article aims to help users deposit their LRTs to mint C-Tokens. For information regarding the derivates yield products, including the risks associated with LRTs and the executed strategy, please refer to other articles in the Yield documentation.

Users can earn derivative yield on their weETH and rswETH by depositing their Liquid Restaking Tokens (LRTs) into Lyra to mint Covered Call Tokens (C-Tokens).

Step 1 - Open the Yield page on the Lyra app and select weETHC or rswETHC.

Step 2 - Select the network from which to deposit weETH (or rswETH).

You can deposit weETH from both Ethereum and Arbitrum, while rswETH can only be deposited from Ethereum.

Step 3 - Enter the amount of weETH (or rswETH) to deposit.

The exchange rate between LRTs and C-Tokens is 1:1. For example, depositing 1 weETH results in minting 1 weETHC.

Step 4 - Select Mint weETHC (or rswETHC) and confirm the transaction in your wallet.

This will (1) deposit the LRT into Lyra, (2) mint the C-Token, and (3) withdraw the C-Token to the network you deposited from.

Step 5: Wait until the status changes from Pending to Complete. The C-Token will then be in your wallet on the network you deposited from.

Deposits from Arbitrum typically take 2-5 minutes, while deposits from Ethereum take 5-10 minutes.