Farm PNT rewards on Steroids

Deposit BTC and earn with pNetwork’s newest yield farming strategy

pNetwork Team
Sep 30 · 4 min read
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In the world of DeFi, there are plenty of yield farming opportunities, but rarely does one invite users from more than one blockchain. Now, thanks to pNetwork and its Ethereum-compatible pTokenized Bitcoin (pBTC), users from both the Ethereum and Bitcoin communities can deposit and grow their yields on Steroids — starting with a strategy that leverages the pBTC / wBTC pool on Uniswap.

pBTC

pBTC is a Bitcoin-pegged asset available through pTokens, a cross-chain composability project and the foundation of the pNetwork ecosystem. With the custom-made pTokens DApp, anyone can securely mint their own pBTC — pegged 1 to 1 with BTC — or they can acquire it through a myriad of decentralized exchanges, DEX aggregators, and wallets, like 1inchExchange, Argent, Bancor, Dex.ag, dMEX, Eidoo, Loopring, MyEtherWallet, Kyber Network, Paraswap, and Trust Wallet.

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

steroids.finance

Here’s how it works

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

Here you’ll find the available strategies to provide liquidity for rewards, including two ways .

This dashboard will continue to update as new Steroids strategies are launched — each with unique configurations and protocols. In this case, the pBTC / WBTC strategy will be active for the next 8 weeks.

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steroids.finance

Deposit pBTC into the incentivized WBTC / pBTC Uniswap pool

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

Farm your PNT rewards

While your WBTC / pBTC 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; for example, at the time of this writing, the estimated APY is 122.50%.

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

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.”

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https://uniswap.info/pair/0x9f8d8df26d5ab71b492ddce9799f432e36c289df

More ways to stake!

Join Steroids with UNIV2

Uniswap liquidity providers who want to independently join the WBTC/pBTC Uniswap pool are able to do so and still be eligible for incentives. Once you have provided liquidity via the Uniswap interface (either in WBTC, pBTC or both), you can use the “stake UNIV2” section to move your BTC on Steroids.

Join Steroids with WBTC

WBTC holders who want to join our flock and move their BTC on Steroids can also participate in the liquidity mining initiative by independently providing WBTC liquidity in the WBTC/pBTC Uniswap pool. Once you have provided liquidity via the Uniswap interface and received the relevant UNIV2 tokens representing the pool, you can use the “stake UNIV2” section to move your BTC on Steroids.

Join Steroids with BTC

BTC holders who want to put their money at work and move their BTC on Steroids can join in the liquidity mining initiative by tokenizing their BTC to be moved on Ethereum. With the pTokens custom-made DApp, anyone can securely mint their own pBTC — pegged 1 to 1 with BTC — and transfer their BTC on Ethereum. Once you have pBTC, you need only connect your wallet to the steroids.finance DApp to effectively stake your bitcoin and earn PNT rewards (see the “how it works” section above).

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Anyone can mint pBTC with the pTokens DApp

Whether you enter Steroids with pBTC, WBTC, or UNIV2, you’ll be able to indulge in DeFi yield farming and earn PNT. And once you have it, you won’t want to miss out on other opportunities to grow your yield. For example, PNT holders can earn 42% APR when they stake and vote in the pNetwork DAO.

🦜 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.

💌 Excited about pBTC? Sign up for our newsletter and be the first to know which blockchain pTokens will make their home in next.

pNetwork

Enabling cross-chain DeFi composability

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