How to enter the Strudel
In order to make your exploration through the Strudel as secure as possible — read these instructions on how to enter first.
Mint vBTC
- To start of, simply connect the Dapp with your wallet. We support Meta Mask and WalletConnect.
- Put the desired amount of vBTC, that you want to mint, in the interface. Check your vBTC and the estimated $TRDL rewards you gain. The Strudel contract strictly mints BTC to vBTC at a ratio of 1:1. Tor early explorers, the $TRDL rewards are distributed at a quadratic rate — so be quick.
- Once you continue you can see an individual QR code, based on your inputs and the connected wallet. You can either scan the code or copy & paste the payment link in your Bitcoin wallet’s recipient input field.
Compatible Wallets
Only BIP70 compatible wallets can cross the bridge. The following wallets have been tested and work properly:
- Bitcoin.com (iOS or Android)
- Mycelium (iOS only)
To allow all wallets to enter the Strudel a P2FSH implementation is in the making. Read more here.
Please report more compatible wallets in our Discord: https://discord.gg/FH95euC
Claim vBTC and $TRDL rewards
Once you have entered the Strudel — the contract will wait until 6 block confirmations on the Bitcoin Blockchain. The interface provides an update during this process. Once confirmed, you can claim your vBTC and $TRDL rewards.
❗️The longer you wait to claim your tokens, the more it will cost. This is due to the relayer function of the bridge. It relays every Bitcoin block header on Ethereum — the longer it has to go back in history to check the inclusion proof the more it will cost.❗️
Immediate claim: 200.000 gas
2 week claim: 2.000.000 gas
Maximum claim time: 3 weeks!
Start Farming the Flippening
You can put your vBTC and $TRDL into DeFi immediately and support the project by providing liquidity. Strudel makes use of crypto-economic incentives to strengthen the trustless bridge and the protocol. When you put liquidity pool tokens into the Strudel — 🛰 Terra-Farms — you stabilize the peg of BTC to vBTC and earn rewards by taking a short position on BTC dominance and go long on Ethereum. You can read more about that here.
- Deposit Liquidity into the major pools of vBTC-WETH or $TRDL-ETH. You will need both of the assets to stake liquidity. For vBTC-WETH you will need vBTC and wrapped Ether. For $TRDL-ETH you need $TRDL and ETH.
- Once you staked the desired amount of vBTC and WETH or $TRDL and ETH you will get LP tokens (Liquidity Provider Tokens). The LP token of vBTC-WETH is called vBTC++.
- Now that you have the respective LP token you can stake the respective LP tokens in the reward pools vBTC-WETH LP or $TRDL-ETH and farm $TRDL.
- Earn $TRDL rewards — harvest your rewards, enter more liquidity and repeat.
You have now successfully crossed the first one-way, trustless bridge and earn rewards.
🙌 Join the Discord community: https://discord.gg/fBuHJCs
📫 Support and follow us on Twitter: https://twitter.com/strudelfinance
Read More
📜 Have a look at the Strudel Manifesto.
🧐 Read about Strudel’s trustless bridge here: Bridging without Intermediaries
