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Top 3 Reasons for Yield Farming With Eidoo

Updated: Sep 15, 2021

Top 3 Reasons for Yield Farming With Eidoo

If there is a “passive income” opportunity that “pays well,” it’s yield farming on the blockchain. All you need to do is tap various decentralized finance protocols, employ different strategies to interact with multiple DeFi apps, and multiply your crypto asset holdings.

Since its introduction, blockchain yield farming has captured the attention of a vast majority of DeFi traders and investors who are on the lookout to reap insane profits.

Which makes us shift our focus again back to you.

You may be a pro-yield farmer who has exploited every single trick in the book. You could also be a beginner looking for a good start. And even if you are an average yield farming Joe, Eidoo wallet could help you better manage your strategies plus provide assistance in bumping up your profits.

Read on.

The Eidoo — pNetwork Partnership Advantage: Handsome Yield Farming ROI, APR, and Incentives

Imagine if you could use bitcoin (BTC), litecoin (LTC), EOS, and other non-DeFi cryptocurrencies, for yield farming on Ethereum or any other DeFi ecosystem supporting smart contracts.

Sounds exciting right? It does, and it is possible! But how?

Through our partnership with the cross-chain composability platform pNetwork. pNetwork facilitates the availability of crypto tokens on multiple blockchains through cross-chain bridges.

pTokens plays an instrumental role in this. It helps mint synthetic versions of crypto assets native to their blockchain networks, viz BTC to pBTC, LTC to pLTC, EOS to pEOS, etc. You can then leverage these pegged token copies to plug liquidity in different pools and earn hefty ROI on your crypto yield farming investment and APRs that can give liquidity pools on other platforms a run for their money.

Farming in the pLTC/ETH Liquidity Pool

Consider, for example, LTC. Around six months ago, the pNetwork team launched the cryptocurrency market’s first Litecoin bridge to Ethereum.

As an Eidoo wallet user, you can now peg in LTC through pTokens to create pLTC tokens and provide liquidity to the pLTC/ETH pool on Uniswap. The Litecoin-Ethereum bridge gained a bumper right after launch.

pLTC ETH Eidoo wallet
Source: Eidoo Wallet App, 03/02/2021

In early March, the pLTC/ETH total pool size was 3,158.0283 pLTC which is 356,3818 ETH with estimated returns of 91,06% yearly — an industry-leading yield farming opportunity right there!

The rewards from this litecoin/ethereum yield farming opportunity can be redeemed in PNT tokens (the native cryptocurrency token of pNetwork). Every week liquidity providers stand to earn 15,000 PNT coins.

And the best part about this? Due to the direct integration of pTokens, you as an Eidoo wallet user can provide liquidity and earn rewards without leaving the Eidoo wallet app. How cool is that!

Liquidity Pools Other Than pLTC/ETH

If the pLTC/Ethereum yield farming pool got you drooling, there are more amazing pools to whet that yield farming appetite of yours. Some of them that are accessible from the Eidoo app are as follows:

  • PNT/ETH (Incentivized PNT/ETH UniSwap pool)

PNT ETH Eidoo wallet
Source: Eidoo Wallet App, 03/02/2021
  • pBTC/ETH (Incentivized pBTC/ETH Uniswap pool)

pBTC ETH Eidoo wallet
Source: Eidoo Wallet App, 03/02/2021
  • pBTC on Curve (Incentivized pBTC/sBTC Curve pool)

Source: Eidoo Wallet App, 03/02/2021

Also, just so you know, currently, there are 44 pTokens bridges to leverage crypto yield farming, which cover the following blockchains:

  • Bitcoin

  • Ethereum

  • Litecoin

  • EOS

  • Telos

And the following pTokens bridges:

  • pBTC on ETH, EOS, Telos

  • pLTC on ETH, EOS

  • pETH on EOS

  • PNT on EOS

  • pMKR, pYFI, pLINK, pUNI, pOMG, pBAL, pCOMP, pBAND on EOS

  • pDOGE on ETH

If You Thought Eidoo Is Just a Wallet, You Were Wrong!

Eidoo is much more than a non-custodial DeFi wallet. It offers a whole arsenal of features to both amateur and professional DeFi investors and crypto yield farming enthusiasts. While the wallet is the flagship product, Eidoo represents an entire ecosystem of crypto solutions designed to help individuals and entities store and manage digital assets.

Some of these solutions include:

  • Support for more than 1000 cryptocurrency tokens, including all major ERC-20 tokens

  • An ERC-20 decentralized exchange (DEX)

  • Access to eidooCARD, a VISA backed debit card

  • EidooID

  • Instant SEPA on and off-ramp for fiat currency

If these aren’t enough reasons to convince you to download the Eidoo Wallet for your crypto yield farming strategies, then feel free to hop into our Telegram community and ask the members if they enjoy the opportunities the wallet offers.

Alternatively, you can also follow us on Twitter for more updates.

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