sUSDe Evaluation

	B	C	D	E	F	G	H	I	J	K	L
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2	sUSDe Yield	100%
3	User LLTV Buffer	3%
4	Expected Return Multiple	1.75
5	Expected Return Minimum Spread	10%
6	Final Expected Return	175%
7	Optimal Borrow Utilization	90%
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10	LLTV	User LTV	Collateral Leverage	Levered Collateral Yield	Total Borrow Cost	Borrow Leverage	Morpho Borrow Rate	Morpho Supply Yield	Yield Flow-Through (Borrow Rate)	Yield Flow-Through (Supply Rate)	Value Capture (Borrow Rate) / LLTV
11	98.00%	95.00%	20.00	2000%	1825%	19.00	96.05%	86.45%	96.05%	86.45%	98.01%
12	96.50%	93.50%	15.38	1538%	1363%	14.38	94.79%	85.31%	94.79%	85.31%	98.22%
13	94.50%	91.50%	11.76	1176%	1001%	10.76	93.03%	83.73%	93.03%	83.73%	98.45%
14	91.50%	88.50%	8.70	870%	695%	7.70	90.25%	81.23%	90.25%	81.23%	98.64%
15	86.00%	83.00%	5.88	588%	413%	4.88	84.64%	76.17%	84.64%	76.17%	98.42%
16	77.00%	74.00%	3.85	385%	210%	2.85	73.65%	66.28%	73.65%	66.28%	95.65%
17	62.50%	59.50%	2.47	247%	72%	1.47	48.95%	44.05%	48.95%	44.05%	78.32%
18	38.50%	35.50%	1.55	155%	0%	0.55	0.00%	0.00%	0.00%	0.00%	0.00%
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39	Flowthrough by Expected Return Multiple		LLTV	86.00%
40			User LTV	83.00%
41			Collateral Leverage	5.88
42			Levered Collateral Yield	588%
43			Borrow Leverage	4.88
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45	Expected Return Multiple	Total Borrow Cost	Morpho Borrow Rate	Morpho Supply Rate	Yield Flow-Through (Borrow Rate)	Yield Flow-Through (Supply Rate)	Efficiency Ratio
46	1	478%	97.95%	88.16%	97.95%	88.16%	113.90%
47	1.1	478%	97.95%	88.16%	97.95%	88.16%	113.90%
48	1.2	468%	95.90%	86.31%	95.90%	86.31%	111.52%
49	1.3	458%	93.86%	84.47%	93.86%	84.47%	109.13%
50	1.4	448%	91.81%	82.63%	91.81%	82.63%	106.75%
51	1.5	438%	89.76%	80.78%	89.76%	80.78%	104.37%
52	1.6	428%	87.71%	78.94%	87.71%	78.94%	101.99%
53	1.7	418%	85.66%	77.10%	85.66%	77.10%	99.61%
54	1.8	408%	83.61%	75.25%	83.61%	75.25%	97.23%
55	1.9	398%	81.57%	73.41%	81.57%	73.41%	94.84%
56	2	388%	79.52%	71.57%	79.52%	71.57%	92.46%
57	2.1	378%	77.47%	69.72%	77.47%	69.72%	90.08%
58	2.2	368%	75.42%	67.88%	75.42%	67.88%	87.70%
59	2.3	358%	73.37%	66.04%	73.37%	66.04%	85.32%
60	2.4	348%	71.33%	64.19%	71.33%	64.19%	82.94%
61	2.5	338%	69.28%	62.35%	69.28%	62.35%	80.55%
62	2.6	328%	67.23%	60.51%	67.23%	60.51%	78.17%
63	2.7	318%	65.18%	58.66%	65.18%	58.66%	75.79%
64	2.8	308%	63.13%	56.82%	63.13%	56.82%	73.41%
65	2.9	298%	61.08%	54.98%	61.08%	54.98%	71.03%
66	3	288%	59.04%	53.13%	59.04%	53.13%	68.65%
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