pxETH continues it’s multi-chain effort! Users can bridge their pxETH to zkSync through LayerZero.
In this guide I’ll show you how to bridge to zkSync and provide liquidity on Koi to take advantage of some low-fee yield farming.
Please note: This guide is not a recommendation and interacting with DeFi protocols can be risky. Please do your own research and use your best judgment. Best of luck out there!
Overviews
Before we dive in, let's take a moment to walk through the basics.
What is pxETH?
pxETH is one of two tokens associated Dinero’s liquid staking solution for ETH. Users receive pxETH when they stake ETH with Dinero. It’s liquid, fungible, and pegged 1:1 to ETH. Functionally, you can think of it as wrapped ETH (WETH).
It’s worth noting that the ETH underlying pxETH is staked in Dinero validators, but pxETH does not earn ETH staking yield. Check out this guide for more information on pxETH’s two-token design and how to earn staking yield.
What is Koi?
Koi is a DEX, yield, and bond platform built on zkSync, formerly known as Mute. They offer products like concentrated pools and standard pools, complete with limit orders. In this blog, we will walk through the stable liquidity pool ETH/pxETH for those advantageous users.
Obtaining pxETH
Before getting started, you’ll need to get your hands on pxETH. You can mint some with ETH you already own or you can buy it through DEXes like PancakeSwap, Curve, or Balancer.
If you’re looking to mint pxETH, navigate to the mint page here. The mint screen will provide you with two options:
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Mint pxETH with ETH
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Deposit to apxETH vault with ETH
If you want to earn ETH staking yields, stop reading this guide and deposit to the apxETH staking vault. But for this partnership we will be using pxETH.
Remember: pxETH does not earn staking yields. Instead, you’ll earn yield on pxETH from opportunities like the ones outlined in this guide
Bridging to zkSync
To bridge your pxETH to zkSync, head to the Dinero site and click on the “More” tab on top of the page. There you’ll find the “Bridge” page.
Since we already own pxETH, the next steps are simple:
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Connect your wallet
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Enter the amount of pxETH to bridge
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Select Ethereum → zkSync
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Click Approve pxETH to allow Dinero to use your pxETH. Confirm your limit amount. Wait for confirmations.
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Then click Bridge and confirm the transaction(s)
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And you’re done!
Earning on Koi Finance
Using the pxETH / ETH pool
Using the pxETH / ETH pool is easy: simply add pxETH / ETH liquidity to receive WETH and pxETH rewards. I’ll show you how below.
Proving Liquidity on Koi Finance
After Bridging pxETH, go here to the Koi’s LP.
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Connect your wallet if you haven’t already
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Enter the amount of ETH/pxETH you’d like to deposit within the liquidity pool.
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Click “Submit Liquidity” sign any transactions required.
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You’re set!
Rewards on Koi Finance
Koi rewards earned will be showcased within the same LP deposit page “pxETH/ETH LP”. User will earn the trading fee’s accumulated from the LP position.