How to Join the pBTC/ETH Uniswap Pool via Eidoo Wallet
How does it sound to earn a 2-digit rate annual return on your capital? DeFi ecosystems offer exceptional investment opportunities right in front of us that we tend to miss because they seem to be too good to be true.
In this article, we will help you get rid of your fears and ride all the opportunities that the Eidoo wallet offers every time you open the app on your mobile device.
Stake as You Go
You have most certainly seen the stake pBTC/ETH & Earn option in the carousel of your Eidoo DeFi wallet app. It refers to the most popular of the available pools — the pBTC/ETH liquidity pool. In a liquidity pool, you provide funds to a pair of currencies and it enables faster exchanges between these two currencies. Naturally, in DeFi, you get handsomely rewarded for it.
You should note that although this option appears both on the web and mobile versions of the app, it is only possible to participate in the pool from your phone.
The staking option eases the use of the Uniswap protocol within our DeFi wallet app. When you tap on the banner, synchronization takes place with the current data of the exchanging pool and shows its profitability.
Here it’s important to understand what these figures mean, more specifically, the size of the pool, in order to assess the relevance of the investment.
Since the return is proportional to the share you have in the pool, when you invest a significant amount in relation to the total size of the pool, the investment will have an upward effect when entering the pool and then a downward effect when leaving it. Keep this in mind before investing via the Eidoo DeFi wallet app.
Once you know what this is about, you can tap on the button Use ETH to stake pBTC/ETH and be directed to the page where you can stake your funds.
When the funds are transferred, half of them will be automatically converted into pBTC and immediately start providing liquidity to the market.
Investments are possible only in ETH.
The funds invested in the pool will be reflected in Your staked allocation. In this section, you will also see how the amount Earned so far in PNT grows over time.
The earnings made from the Uniswap pool are in tokens that you can withdraw with the Claim rewards button and have them transferred from the Uniswap pool to your Eidoo wallet.
You can withdraw from the pool whenever you want by tapping on the Unstake & claim button. This will reintegrate in the Eidoo wallet the funds used to participate in the pool and claim your profits made in PNT tokens.
Checking on Uniswap
To link your crypto wallet app to the platform, just click on Connect Wallet. This will pop up a window to choose from a linking method, in our case, choose WalletConnect.
And then, all you need to do is to scan the QR code with your Eidoo wallet.
The Eidoo DeFi wallet app is designed to make things simple and straightforward.
Was there ever a time you could easily get 18% per year on your savings? Don't think twice and download your Eidoo wallet now.