In this guide I’ll show you how to bridge your pxETH to Arbitrum, provide liquidity on Camelot, and of course, how to earn some yield on your pxETH.
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 start, let's go over all the details to make sure you're fully prepared.
What is pxETH?
pxETH is one of two tokens associated with Pirex ETH – the liquid staking solution for ETH that powers the Dinero protocol. Users receive pxETH when they deposit ETH into Pirex ETH. 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 Pirex ETH’s two-token design and how to earn staking yield.
What is Camelot?
Camelot is a decentralized exchange and launchpad built on Arbitrum. In this tutorial we’ll be providing liquidity to their decentralized exchange. Learn more about Camelot here.
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:
-
Mint pxETH with ETH
-
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 Arbitrum
To bridge your pxETH to Arbitrum, 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:
-
Connect your wallet
-
Enter the amount of pxETH to bridge
-
Select Ethereum → Arbitrum
-
Click Approve pxETH to allow Dinero to use your pxETH. Confirm your limit amount. Wait for confirmations.
-
Then click Bridge and confirm the transaction(s)
-
Wait for your pxETH to arrive on Arbitrum (shouldn’t take long)
Earning on Camelot
After Bridging pxETH, go here to the Camelot dapp. That link should bring you to the pxETH/WETH vault automatically, if it doesn’t, just do the following:
Underneath the Trade, go to Liquidity. Add the pair of “pxETH” and “WETH”, select the “Auto” mode and the strategy will prompt:
-
Connect your wallet if you haven’t already
-
Make sure GAMMA is selected, enter the amount of pxETH/WETH you’d like to deposit within the liquidity pool, If you don’t have any WETH, you can either bridge some to Arbitrum or swap half of your pxETH for WETH.
-
Approve, sign any transactions required
-
Click “Create Position”, sign any transactions required
-
Select the lock period, the longer the lock period the more extra rewards you’ll earn(do your own research and use your best judgment)
-
You’re set!
Note: You can monitor your positions underneath “Earn”->”Pools->”V3 Vaults”
Rewards on Camelot
As your liquidity sits in the vault, you’ll begin earning GRAIL rewards and trading fees. These rewards can be claimed directly in the UI.