Here's the translated content in English:

A short infographic visualizing how the gETH yield token functions:

1️⃣ A concentrated liquidity position is created in Uniswap V3 in a 50:50 ratio in ETH/USDC in the +-50% range (initial parameters).
2️⃣ As the price decreases, more of the LP is rebalanced to ETH. As the price increases, more of the LP is rebalanced to USDC.
3️⃣ A GammaSwap long is opened in the ETH/USDC pool to replicate this rebalancing in the opposite exposure. The net exposure is delta neutral in ETH terms.
4️⃣ If the LP approaches the end of the range (+-30%), the position will be rebalanced. This will incur some slippage and other costs reflected in a small drawdown.

Other key things to note about the strategy are that the LP position collateralizes the hedge position increasing capital efficiency. The strategy is whitelisted not to pay borrow fees and instead shares fees with the GammaPool. This means the yield will be never be negative.