Redacted keeps extending its reach to other chains. With the success of Blast L2, Redacted has partnered with Thruster and Hyperlock to incentivize a pxETH / WETH liquidity pool. LPs can now earn Blast Points, Thruster Credits, and Hyperlock Points. Let me show you how, my fellow degens.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 go over all the details to make sure you're ready to go.
What is pxETH?
pxETH is one of two tokens associated with Pirex ETH – the liquid staking solution for ETH that will power 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 Thruster?
Thruster, a DEX and AMM on Blast, enables token trading and liquidity provision. We'll focus on their pxETH/WETH pool in this tutorial.
What is Hyperlock?
Hyperlock is a yield and metagovernance protocol built on Thruster. Hyperlock provides boosted rewards to Thruster LPs and THRUST stakers via the aggregation of veTHRUST and Hyperlock’s native token – both tokens are not live yet.
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 L2
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 Thruster
Proving Liquidity on Thruster
After Bridging pxETH, go here to Thruster’s homepage.
Head over to the “Analytics” page under the “Top Pools”. Type “pxETH” in the search bar and you’ll see the list populate with the pools available to you:
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Connect your wallet if you haven’t already
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Click Create Position, enter the amount of pxETH/WETH you’d like to deposit within the liquidity pool, select your price range. If you don’t have any WETH, you can either bridge some to Blast or swap half of your pxETH for WETH.
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I selected 0.1% for my assets range, and a fee tier of 0.05%, but you can do your own research and choose a different range.
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Note: The 0.05% fee tier is required to stake on Hyperlock.
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Approve both your pxETH & WETH, sign any transactions required
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Click “Add” sign any transactions required
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You’re set!
Note: You can check your positions underneath “Portfolio”
Earning Points on Hyperlock
After creating a position on Thruster, head over to Hyperlock.
Open App, Type “pxETH” in the search bar and you’ll see the pxETH pool:
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Connect your wallet if you haven’t already
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Click on the WETH/pxETH pool, deposit your freshly created LP position on Thruster
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Click “Stake”, sign any transactions required
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Let the points flow
Rewards on Thruster & Hyperlock
You can keep track of your Blast Gold, Blast Points, and Hyperlock points using the Hyperlock UI. While Thruster Credit tracking isn’t live, rest assured that you’ll be receiving some after they launch.
Pro tip: After you earn Hyperlock points, you can use them to vote to allocate more points to the pxETH / WETH pool, which means more points for you and the other LPs. So make sure to do this every distribution.Be sure to keep up with Thruster and Hyperlock on X/Twitter so you can keep an eye on any points/token updates. Find them here: Thruster/Hyperlock. Happy farming!