# Euler NECT/USDe Stablecoin Looping
## Strategy Overview
This strategy leverages the NECT/USDe stablecoin pair, maximising APY through recursive lending and borrowing. It works as follows:
Deposit NECT into Euler vaults to earn a base supply APY (\~30% at time of writing) while simultaneously using it as collateral to borrow USDe. Loop borrowed USDe back into NECT via swaps, and re-deposit into Euler.
* **Target APY:** 30–260%+ depending on leverage.
* **Max Leverage:** Up to 9.5x supported on Euler.
* **Safety Ratio:** Maintain a Loan-to-Value (LTV) with a reasonable liquidation buffer (max LTV: 91.5%).
**This strategy hinges on:**
* NECT/USDe price peg stability
* Low slippage NECT↔USDe conversion. Right now, there is over $10mil in liquidity for the NECT-USDe pool on Kodiak:
## Link to strategy
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## Guide
### For simple borrowing
Those wishing to simply borrow USDe against their NECT collateral without any leverage can simply click on the 'borrow' tab for the strategy page as per the image above. This will take you to this interface below:
Input the desired amount of NECT to deposit and a corresponding amount of USDe debt. Click the 'Add to queue' button, followed by 'execute.
### For Yield maximisers
Click on the 'Multiply' tab from the first image above. This will navigate you to an interface like such:
Toggle across to the desired multiplier, click 'Add to queue' and then execute. The Euler interface will then display your position value, including your account margin, debt and position health ratio.
