What dEURO staking is and why use BIM Exchange
dEURO staking has become an essential method for generating passive income while maintaining euro-denominated exposure in cryptocurrency. dEURO is a crypto-asset that maintains stability by referencing the value of the euro rather than the US dollar. BIM Exchange makes it possible to stake dEURO easily through a decentralised and secure interface on the Ethereum network. Unlike traditional savings accounts, you can access and withdraw your staked dEURO whenever you choose without restrictions or penalties. The interface provides clear and fast options to manage your deposits through a simple dashboard accessible from any browser.
Step 1: Accessing the staking vault
To begin staking, visit the staking page at the dEURO vault address on the Ethereum network. This vault is where you deposit your dEURO to start generating interest through the underlying lending protocols operating on-chain. The vault operates on the Ethereum mainnet.
Make sure you have dEURO available in your wallet on the Ethereum network before starting the staking process entirely. If your dEURO is on a different network, you will need to bridge it to Ethereum first using a bridge service. You will also need a small amount of ETH in your wallet to pay for gas fees on the Ethereum network.
Once you have dEURO and ETH ready in your Ethereum wallet, you can proceed to connect your wallet.
Step 2: Connecting your wallet to the platform
Click « Connect Wallet » in the top right corner of the BIM Exchange staking page screen to begin. BIM Exchange supports Web3 wallets including MetaMask, WalletConnect, Coinbase Wallet and Ledger hardware wallets for secure connections. This connection allows the platform to read your wallet balance but cannot move funds without your explicit approval. Never share your seed phrase or private keys with anyone, including websites claiming to need them for connections.
Steps to connect your wallet:
- Select your wallet type from the list of available options that appears when you click the button.
- Your wallet extension or application will open automatically and ask you to authorise the connection.
- Follow the on-screen instructions to approve the connection between your wallet and the BIM Exchange platform.
Once connected successfully, you will see your available dEURO balance displayed on the staking interface dashboard clearly. Your wallet address will also appear in the top corner, confirming that the connection is active and secure.
Step 3: Depositing dEURO into the lending vault
Enter the amount of dEURO you wish to deposit into the vault for staking purposes in the deposit field. You can type a specific amount or click « Max » to deposit your entire available dEURO balance at once. Review the current APY displayed on the interface to understand what interest rate you will earn on your deposit. Remember that APY fluctuates based on borrowing demand, so the rate may change over time after you deposit.
Steps to complete your deposit:
- Click « Deposit » to validate the transaction, opening a confirmation window in your connected wallet.
- Review the transaction details including the amount being deposited and the gas fee cost shown in your wallet.
- Click « Confirm » in your wallet to execute the transaction on the blockchain after checking all details carefully.
- Wait for the Ethereum network to process and validate your deposit transaction, which may take minutes.
- Click the transaction hash to view its progress on Etherscan, the blockchain explorer for Ethereum network.
Once validated, your staked dEURO will appear in your vault balance on the BIM Exchange dashboard immediately. The platform will automatically start calculating interest on your deposit from the moment the transaction confirms on-chain.
Step 4: Monitoring earnings and withdrawing your funds
Once your staking is validated, your dashboard will display important information about your position and accumulated rewards. Interest accrues continuously, so you can watch your balance grow throughout the days and weeks progressively. The dashboard updates automatically without requiring you to refresh the page or reconnect your wallet repeatedly during sessions. You can withdraw your funds at any time without lockup periods or penalties for early withdrawal from the vault.
Your dashboard shows:
- Total deposited amount of dEURO currently staked in the lending vault on Ethereum network.
- Current interest rate displaying the APY you earn, which fluctuates based on protocol borrowing demand.
- Real-time earnings showing additional dEURO accumulated since depositing your initial stake into the protocol.
- Last harvest timestamp indicating when rewards were last compounded into your position automatically.
To withdraw your staked dEURO:
- Click « Withdraw » on the staking interface and enter the amount or click « Max » for everything.
- Confirm the transaction in your wallet and pay the required gas fee in ETH tokens.
- Your dEURO returns to your wallet once the transaction confirms along with all accumulated interest earned.
