Bridging to Blast L2 has been live for a while now. Redacted is offering another opportunity to earn yield on your pxETH, this time via BladeSwap.
In this guide I’ll show you how to bridge to Blast and provide liquidity on BladeSwap 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 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 BladeSwap?
BladeSwap is a DEX on Blast. Similar to DEXes such as Solidly and Velodrome, it controls its emissions through voting. It also provides a simple UX that allows users to bundle various actions into a single transaction, eliminating the need for multiple approvals, staking, and repeated reward claims.
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 decentralized exchanges 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, if you’re looking to earn gauge rewards like a real farmer, then move forward with minting 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 Blast
To bridge your pxETH to Blast, 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 → Blast
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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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Wait for your pxETH to land on Blast
Earning on BladeSwap
Proving Liquidity on BladeSwap
After Bridging pxETH, go here to the pxETH/ETH pool on BladeSwap.
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Connect your wallet if you haven’t already
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Click Create Position, enter the amount of pxETH/ETH you’d like to deposit within the liquidity pool, and select your price range. If you don’t have any WETH, you can either bridge some over or swap half of your pxETH for WETH.
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I selected “Aggressive +-1 Tick” for my assets range, but you can do your own research and choose a different range.
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Approve both your pxETH & ETH, sign any transactions required
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Click “Add” sign any transactions required
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You’re set!
Rewards on BladeSwap
You can keep track of your $BLADE rewards and trading fees through the LP interface. To track your Blast Gold, Blast Points check the Gold Icon next to your wallet address.
Be sure to keep up with BladeSwap on X/Twitter so you can keep an eye on any points/token updates. Find them here: BladeSwap Happy farming!