In the world of decentralized finance (DeFi), staking has emerged as a powerful tool for earning passive income while supporting the underlying blockchain network. This guide will walk you through the process of staking with Bedrock and Pendle, focusing on minting and holding uniETH to maximize your rewards. By participating in this system, users can earn ETH staking rewards, restaking rewards, and additional yields through Pendle’s innovative liquidity pools.
Rewards Overview
By leveraging both Bedrock and Pendle, users can significantly enhance their earnings through a combination of staking rewards, liquidity pool yields, and the strategic use of PT/YT tokens.
Staking with Bedrock
To get started earning the various types of rewards associated with uniETH, all you need to do to get started is mint some yourself. The simplest way would be to interact with Bedrock’s secure protocol that has been battle-tested for over a year and audited by PeckShield. Here’s a quick guide on how to get started.
Connecting Your Wallet:
Visit the Bedrock staking platform and click “Connect Wallet.”
Select your preferred wallet provider and follow the prompts to connect.
Staking ETH for uniETH:
Once connected, navigate to the “Stake” section.
Enter the amount of ETH you wish to stake and review the estimated output in uniETH.
Confirm the transaction in your wallet to complete the staking process.
Add the uniETH token to your wallet for easy tracking.
Unstaking Process
First, to unstake, click “Unstake” and enter the amount you wish to withdraw.
Then, input the amount of ETH you’d like to withdraw in exchange for uniETH held.
Next, click “Approve uniETH” to initiate wallet signing.
Input the spending cap for uniETH, click “next”, then approve the transaction on your wallet.
Then, confirm the unstaking step on Bedrock’s protocol, and approve the transaction on your wallet.
Approve the transaction in your wallet, observing the unstake period of 2–10 days, depending on the amount of on-chain activity on Ethereum.
Be sure to take note of the unstake period, perhaps marking it on your calendar. Once the period is over, return to Bedrock to claim your unstaked ETH from the platform.
Earning with Pendle
If you choose to continue holding uniETH, you can utilize in a variety of ways. One of those is by participating in our pool on Pendle. This is an innovative way to either hedge, leverage or diversify your digital assets through Pendle’s unique AMM. To participate in our Pendle liquidity pool, mark the following steps.
Connect your wallet to Pendle and navigate to the liquidity pool section.
Select an asset to add to the pool
Input the asset value
Click “Zap In” and review it to confirm.
Confirm the transaction in your wallet to start earning rewards.
Once you have deposited assets into the pool, you may view your rewards on Pendle.
In the meantime, you will still be earning Bedrock Diamonds and EigenLayer points, which you may view on the Bedrock dApp.
Swapping for PT uniETH and YT uniETH
Choose PT or YT uniETH from the swap section.
Select the token you’d like to input for your PT or YT uniETH.
Input the amount of the selected token you’d like to deposit.
Confirm the transaction in your wallet.
Minting PT & YT uniETH
In the minting section, select PT or YT uniETH.
Enter the desired asset value and confirm the minting process in your wallet.
Confirm the transaction.
Conclusion
By following the steps outlined in this guide, you can effectively participate in Bedrock and Pendle’s staking and liquidity pool programs, maximizing your uniETH rewards. Diversification and strategic participation in earning opportunities are key strategies in DeFi, and participating in the uniETH Pendle pool is a great way to do just that.
