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Deposit ETH & earn rewards with Steroids.finance

Steroids.finance is back with a new liquidity mining strategy. As introduced in our previous guide, Steroids is a liquidity mining program for the pNetwork ecosystem, which offers unique Yield Farming strategies and exciting APYs.

Given the success of the initial program — which rewards liquidity providers to the pBTC / WBTC pool on Uniswap — today, the team is thrilled to announce a new strategy for farming PNT.

Now through the Steroids program, users can become Liquidity Providers in Uniswap’s ETH/PNT pool while earning rewards in unlocked PNT.

Each week a reward of 15,000 PNT will be distributed and divided between liquidity providers. Read on for step-by-step instructions on different ways to provide liquidity and become eligible for rewards.

steroids.finance

Join Steroids with ETH

Become a liquidity provider and participate in the ETH/PNT liquidity pool by depositing ETH on Steroids.

Connect your wallet to Steroids.finance and navigate to “Earn.”

Here you’ll find the available strategies to provide liquidity for rewards. This dashboard will continue to update as new Steroids strategies are launched — each with unique configurations and protocols. In this case, the PNT / ETH strategy will be active for the next 8 weeks.

steroids.finance

Deposit ETH into the incentivized PNT/ETH Uniswap pool

Select the incentivized PNT/ETH Uniswap pool that indicates ETH as the asset to enter. Steroids simplifies the process of providing liquidity to the PNT/ETH Uniswap pool by automatically splitting your deposit equally among the two assets in the pool. This means you only need one token to enter the strategy: ETH. Insert the amount of ETH you want to provide to the Uniswap pool and click “Stake ETH.”

steroids.finance

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

While your ETH/PNT tokens are in the Uniswap pool, you’ll receive weekly rewards in PNT (pNetwork token). The percentage varies based on the number of participants in the pool.

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.”

Join Steroids with UNI-V2

Uniswap liquidity providers who want to independently join the PNT/ETH Uniswap pool are still able to benefit from the incentives program by joining Steroids with their UNI-V2 (representing the relevant PNT/ETH Uniswap pool). This option is ideal for more experienced DeFi users who already hold both PNT and ETH or who wish to enter the Uniswap pool with large amounts.

Here’s how to join Steroids with UNI-V2:

Navigate to the PNT/ETH liquidity pool on Uniswap.

PNT/ETH liquidity on Uniswap

Select “Add Liquidity” and deposit 50% PNT and 50% ETH.

Two assets in equal shares are required to provide liquidity directly on Uniswap. Once you provide liquidity, you will receive a UNI-V2 token, which represents your share of the pool.

PNT/ETH liquidity pool on https://app.uniswap.org/

Connect your wallet to Steroids.finance and navigate to “Earn.”

Select the Incentivised PNT/ETH Uniswap pool that indicates UNI-V2 as the asset to enter. “Stake UNI-V2” to ensure your eligibility for the rewards program. Now you can farm PNT and manage your rewards.

steroids.finance

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

While your ETH/PNT tokens are in the Uniswap pool, you’ll receive weekly rewards in PNT (pNetwork token). The percentage varies based on the number of participants in the pool.

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.”

Join Steroids on Eidoo

Thanks to a direct integration of Steroids, Eidoo users can provide liquidity and earn rewards without ever leaving their mobile wallets. For step-by-step directions on participating in Yield Farming strategies via the Eidoo app, please refer to this guide.

Risk Management

Uniswap liquidity pools are always composed of two pairs. When joining the PNT/ETH Uniswap pool via Steroids and depositing ETH, half of the amount is automatically converted into PNT (with PNT tokens bought at market price through the same Uniswap pool). As a result, liquidity is provided to the pool with a balanced 50/50 proportion of PNT and ETH.

Please note that when interacting with Uniswap liquidity pools you may be subject to “price impact” (or slippage) — this is the difference between the market price of a token and the estimated price applied by the pool. When joining the program with ETH, your transaction may be subject to slippage.

As a general rule:

  • The larger the amount involved, the greater the price impact.
  • The larger the pool, the smaller the price impact.

A best practice before joining a Uniswap pool is to assess the price impact of your transaction. When joining the PNT/ETH strategy on steroids.finance via ETH the price impact of your transaction is displayed in the slippage section.

An option to reduce slippage is to join the Uniswap pool by providing liquidity in balanced 50% PNT and 50% ETH amounts, then joining the Steroids program with the relevant UNI-V2 strategy on steroids.finance (see above: “Join Steroids with UNI-V2”).

🦜 Want to join our flock? Connect with us on Twitter and join the conversation in our pNetwork Telegram.

💡 For a more technical deep dive into pTokens infrastructure, read our technical paper or check out the summary on our website.

🔗 For any blockchain project looking to integrate pTokens into their infrastructure, we have also built a pTokens JS library.

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