Eidoo is your gateway to the exciting new world of decentralised finance. An app designed for both your mobile and desktop devices, it’s the easiest and most secure way to explore the entire DeFi ecosystem. 

Stake pBTC and Earn with Yield Farming

Robin Whitney
Robin Whitney

There are plenty of yield farming opportunities in DeFi, but rarely does one invite users from more than one blockchain. Now, thanks to Eidoo’s multicurrency crypto support and pNetwork’s Ethereum-compatible pTokenized Bitcoin (pBTC), users from both the Ethereum and Bitcoin communities can deposit and grow their yields directly in the app.

Announcing Steroids – the new Eidoo integration that streamlines your staking and rewards management for the latest Yield Farming strategies. 


What exactly is Yield Farming?

Yield farming, sometimes called liquidity mining, is an investment strategy to generate high-yield rewards on your crypto assets. Because liquidity is critical for the success of open finance, top DeFi projects have come up with a variety of ways to incentivize users to get their skin in the game and to automate their earnings.

In June, Eidoo upgraded its flagship token to PNT, which transformed the platform into a top-tier DeFi powerhouse. Not only does PNT power Eidoo services, but it serves as the governance token of the cross-chain composability project pNetwork – which delivers DeFi assets like pBTC and pLTC. It’s also the key to joining the pNetwork DAO – which currently offers members 42% APR on their stake

With Steroids Yield Farming, Eidoo users can access even higher APRs, earning incredible PNT rewards in return for providing liquidity. 

And savvy users may take advantage of both Steroids AND pNetwork DAO staking programs.


You can Start Yield Farming with pBTC

Any Eidoo user with pBTC can easily provide liquidity and start earning PNT. The first Steroids strategy leverages the pBTC / wBTC pool on Uniswap, and since Steroids only requires one token to enter the strategy, you can start farming in Eidoo with pBTC. 


pBTC is a Bitcoin-pegged asset available through pTokens, a cross-chain composability solution and the foundation of the pNetwork ecosystem. In Eidoo, there are two ways to acquire pBTC: you can mint pBTC with the pTokens integration, or swap for pBTC right inside your app!


Mint pBTC

With the custom-made pTokens DApp, integrated directly inside Eidoo, anyone can securely lock their BTC and mint their own pBTC – pegged 1 to 1 with bitcoin. Check out our step-by-step guide to using Eidoo’s pTokens integration. 


Swap for pBTC

As an alternative route, you can swap for pBTC. Since, pTokens BTC (pBTC) is an Ethereum token supported by Bancor, Loopring, Kyber Network, and Uniswap, it’s easy to quickly acquire your pBTC through an Atomic Swap right inside your Eidoo app. You can also find pBTC on DEX aggregators like 1inchExchange and Dex.ag. 


Once you have pBTC on hand, you can participate in the latest Steroids Yield Farming strategy by effectively staking bitcoin and earning PNT rewards. 


Stake with pBTC in Eidoo

Navigate to the Steroids Manager in your Eidoo app. 

You can do this by clicking on the rotating banner in the center of your Eidoo app that says “Stake pBTC & Earn.” 

Select “Stake pBTC” on the Steroids manager dashboard. 

With one-click staking, you can provide liquidity to the pBTC / WBTC Uniswap pool and earn weekly PNT from the Steroids program. Note that the percentage varies based on the number of participants in the pool.


Input the amount of pBTC you want to deposit and click “Proceed.”  

Your pBTC deposit is automatically split equally among the two assets in the pool.


Now the Steroids dashboard will reflect your staked allocation and earned PNT 

Once the transaction is approved on the blockchain, your Steroids stake is active. The dashboard will now reflect your staked allocation, estimated annual returns, and the amount of PNT you’ve earned from the program. 

50,000 PNT are reserved for each week of rewards for the duration of 8 weeks.


Select “Claim Rewards” when you want to claim your PNT. 

PNT rewards are distributed when you call the “claim” function. When you select “Claim Rewards” you’ll be directed to a transfer form that automatically generates your Eidoo Ethereum address. Set the amount of ETH to 0 and click “proceed.”

Alternatively, you can exit the strategy and simultaneously claim your rewards by clicking “Unstake and Claim.”

Stake with WBTC via Uniswap & the Steroids DApp

There’s more than one way to start Yield Farming with Steroids. If you would prefer instead to stake with another asset, like WBTC, you can connect your Eidoo wallet directly to the Uniswap interface and then stake in Steroids with UNI-V2 (the token you receive when independently providing liquidity to the pBTC/WBTC pool on Uniswap). Eidoo makes it easy to connect your wallet directly to both the Uniswap protocol and the Steroids desktop DApp to farm your way. 


Connect your Eidoo wallet to the WBTC / pBTC Uniswap pool with WalletConnect 

Thanks to Eidoo’s WalletConnect integration, you can access desktop DApps and protocols like Uniswap by scanning the WalletConnect QR code with your mobile Eidoo wallet. The WalletConnect QR scanner is available in the upper right corner of your Personal wallet. 


Scan the desktop WalletConnect QR code with your mobile Eidoo wallet and approve the prompt to “start a new session” with Uniswap Protocol.


Provide liquidity to the WBTC/pBTC pool on Uniswap 

You can provide liquidity directly through the Uniswap interface by depositing WBTC, pBTC, or both. In return, you will receive a UNI-V2 token as a receipt and representation of your contribution to the pool. Then you can stake your UNI-V2 in Steroids for rewards. 


Connect your Eidoo wallet to the Steroids.finance DApp with WalletConnect 

Access the Steroids desktop DApps by scanning the WalletConnect QR code with your mobile Eidoo wallet. The WalletConnect QR scanner is available in the upper right corner of your Personal wallet. 


Explore the open Steroids strategies on the “Earn” page. 

Here you’ll find the available strategies to provide liquidity for rewards, including two ways to provide liquidity for pBTC / WBTC on Uniswap. The first requires pBTC to enter and exit the strategy; the second requires UNI-V2. 

Select your preferred strategy and deposit UNI-V2 or pBTC

The Steroids DApp simplifies the process of providing liquidity to the pBTC / WBTC Uniswap pool by automatically splitting your deposit equally among the two assets in the pool. This means you only need one token to kick off your yield farming journey. Insert the amount of tokens you wish to stake in the Uniswap pool and click “stake.”


Claim your PNT rewards, and unstake when you’re ready

Rewards can be claimed at any time by clicking “claim.” Alternatively, you can exit the strategy and simultaneously claim your rewards by clicking “unstake and claim rewards.”


Whether you enter Steroids with pBTC, WBTC, or UNIV2, you’ll be able to farm PNT and take advantage of exciting APYs. And once you grow your PNT holdings, you’ll be able to use them for Eidoo services like swaps or for securing an Eidoo Card, the personal DeFi debit card with crypto cashback and membership rewards.

Finally, don’t miss out on other opportunities to grow your PNT yield. After all, PNT holders that stake and vote in the pNetwork DAO earn 42% APR.

Robin Whitney
Robin Whitney