# Welcome to Strudel: The Guide <iframe width="840" height="472.5" src="https://www.youtube.com/embed/nocKfxKn--c" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe> --- ## **OVERVIEW** Strudel Finance is the first and only one-way, trustless bridging protocol linking Bitcoin (BTC), Bitcoin Cash (BCH), and other centralized assets to the expanding DeFi landscape. Powered by the governance token, Strudel Token (TRDL), Strudel allows BTC, BCH, and other assets to be utilized in the Ethereum and Polygon ecosystems to reap the benefits of liquidity mining, arbitrage, lending, collateralization, and more. By eliminating the need for custodial control of assets with typical wrappers, Strudel’s trustless protocol trades off counterparty risk for market risk while using market dynamics, crypto-economic incentives and cross-chain capabilities to maintain a pegged, scalable, and capital-efficient ecosystem. This one-of-a-kind economic approach offers average users and big money investors alike numerous options for monetary growth and grants more diversity and security to DeFi. ## **RECENT UPDATES** This section will be updated regularly to provide a resource for users to learn about recent Strudel developments. Keep this page bookmarked, follow our [Medium page](https://strudel-finance.medium.com/), and follow the [official Strudel Telegram group](https://t.me/StrudelFinanceOfficial) to stay on top of the news. More to come soon! **Note: Medium articles linked in titles.** * [Strudel Liquidity Incentive Revision (SLIR)](https://strudel-finance.medium.com/strudel-liquidity-incentive-revision-slir-701bf366ec98) * With the addition of vBCH and Uniswap v3, we will soon be updating our ecosystem by adding new pools and revised liquidity mining incentives. Stay tuned. * [Strudel Funding Proposal](https://strudel-finance.medium.com/strudel-funding-proposal-1db3526f7dec) * To kick off our new governance system, we have made a proposal to mint TRDL for marketing, exchange listing fees, and liquidity incentives. * [Strudel x Cometh Partnership and Polygon (Matic) Integration](https://strudel-finance.medium.com/strudel-x-cometh-partnership-space-strudels-9fc8a82458a7) * To further Strudel's cross-chain expansion, TRDL and vBTC have been mapped to the Matic blockchain and has partnered with Cometh.io, a fun and original game allowing players to collect, trade, and earn tokens from ERC-20 protocols. TRDL and vBTC are now available to trade and pool on Matic and an [ETH-Matic bridge](https://wallet.matic.network/bridge/) is available. More links are provided below. --- ## **Current Strudel Assets** **Strudel Bitcoin (vBTC):** The first engine to Strudel, Strudel Bitcoin (vBTC), is [minted at 1:1 ](https://app.strudel.finance/BTC)(plus Strudel Token incentives) when Bitcoin (BTC) is bridged in a 100% trustless manner through the Strudel protocol to Ethereum. vBTC can also be swapped just like any other token on Ethereum and now can be [traded and pooled on Polygon (Matic)](https://charts.cometh.io/token/0x1489f4f7e3a80a0ad9fa23c39d2e8af818204ce9) as well. Currently multiple incentivized pools and funds exist for vBTC on both Ethereum and Polygon (see below). Plans for the ability to lend and collateralize vBTC will also be implemented in the near future, making it an even more valuable and relevant asset to own in this dawning age of decentralized finance. The archaic strategy of holding Bitcoin without a way to make capital work for the holder is a thing of the past. vBTC allows holders to make their capital work for them. By combining the benefits of Bitcoin with the benefits of decentralization, and while doing so in a uniquely secure and trustless manner, vBTC can be thought of as "Bitcoin with benefits". **Strudel Bitcoin Cash (vBCH):** The second engine to Strudel, Strudel Bitcoin Cash (vBCH), is [minted at 1:1](https://app.strudel.finance/BCH) when Bitcoin Cash (BCH) is bridged through the Strudel protocol to Binance Smart Chain (BSC). This L2 solution provides dramatically improved gas fees for claiming bridged tokens as well as Strudel Token (TRDL) incentives for early adopters. This solution will eventually be incorporated on all prior and future Strudel bridges. Furthermore, [a native BSC-ETH bridge](https://app.strudel.finance/bridge) has recently been implemented to bring minted vBCH and TRDL back to Ethereum where they can be reap the benefits of decentralization. This BSC-ETH bridge is another checkmark for Strudel’s goals to expand cross-chain for interoperability, a fantastic utility in its own right. This application allows for investors to bridge funds on ETH to BSC *through* vBCH and TRDL, and vice versa. Recently developed pools/funds have allowed for investment of vBCH on Ethereum, and its utility will continue to expand on Ethereum and other blockchains. Think of vBCH as "Bitcoin Cash with benefits". **Strudel Token (TRDL):** The gas to vBTC/vBCH’s engines, The Strudel Token (TRDL or $TRDL) serves as the governance token for the Strudel protocol as well as an incentive for using the Strudel bridges and providing liquidity. Furthermore, TRDL can also be pooled on various protocols with economic incentives, including [Strudel's Terra-Farms](https://app.strudel.finance/farms), allowing users to compound earnings. As Strudel continues to expand cross-chain, the TRDL is now available on Ethereum, Polygon, and Binance Smart Chain with plans to further increase utility and liquidity in the near future. Strudel has recently adopted a revolutionized governance system where the TRDL is used to give the community a voice in instituting changes to the protocol. We are open to feedback and eager to have community members have a more active role in Strudel's development. Beyond the utility of governance, TRDL lockups inherent in the governance system will lower circulating supply and add holding incentive, naturally leading to an increased TRDL value. Furthermore, TRDL incentives are provided for those who choose to lock their tokens for use in governance. The Return on Investment (ROI) for governance lockups is a function of the number of weeks users choose to lock up their tokens, ranging from 1-52 weeks. [Strudel Governance Portal](https://app.strudel.finance/governance) **Grumpy Sat (gSAT):** To add a little spice to the Strudel protocol, but not at the expense of utility, Grumpy Sat (gSAT) has just launched as the first "meme coin" backed by **actual value**. Strudel has deployed a [two-way wrapper on Polygon (Matic)](https://grumpy.nerd.finance/) that converts Strudel Bitcoin (vBTC) to gSAT via the “purr function” and back, via the “snarl” function. Each gSAT is **always** backed by 1 satoshi of vBTC (a Strudel Satoshi, if you will). Because gSAT is backed by actual value (vBTC), and because vBTC exists on Ethereum and Matic with price differences and utility of its own, gSAT provides ample opportunity for monetary gains through arbitrage, Bitcoin exposure, and the benefits of decentralization. Because gSAT is backed by actual value, the risk is decreased substantially. The *downside* risk is the price of Strudel Bitcoin because holders can always redeem gSAT for the same rate it was minted. The *upside* is gSAT holders will also get the benefit of being part of contests, drawings, and presales organized by the Nerd DAO, providing utility and opportunity for price appreciation for gSAT on its own. Grumpy Sat is a meme coin on steroids. [Grumpy Sat Medium article.](https://strudel-finance.medium.com/grumpy-sat-gsat-60e3e16a4cc2) --- ## **Bridges** ### Native Strudel One-way Bridges Bridge centralized assets to DeFi here. * [Bitcoin (BTC) to Strudel Bitcoin (vBTC)](https://app.strudel.finance/BTC) (with TRDL incentives) * [Guide](https://strudelfinance.medium.com/how-to-bridge-the-bridge-679891dd0ae8) * [Bitcoin Cash (BCH) to Strudel Bitcoin Cash (vBCH)](https://app.strudel.finance/BCH) (with TRDL incentives for early adopters. These incentives will fade quickly.) * [Guide](https://hackmd.io/dz1Ue8bXRYSM6APYrt7g2w) * More to come ### Two-way Bridges Move your Strudel assets between networks using these bridges: * [Native Strudel Ethereum-BSC bridge](https://app.strudel.finance/bridge) * Currently used for bridging minted vBCH and TRDL from BSC to Ethereum. * Once we have active liqudity pools on BSC, this bridge will be used heavily. * [Ethereum-Polygon (Matic)](https://wallet.matic.network/bridge/) ### Grumpy Sat Wrapper * [vBTC-gSAT](https://grumpy.nerd.finance/) --- ## **Governance** A recently implemented single-stake option, users can now lock TRDL for 1-52 weeks (you choose) and receive a proportional number of gTRDL for use in governance. All gTRDL holders can submit and vote on Strudel proposals which serve to improve and market the protocol. This includes market policies (supported assets, pool allocations, halving, etc) as well as protocol policies (general rules, allocation of marketing funds, what bridges to implement next, etc). At the end of the lock period, the original deposit of TRDL can be unlocked and the yielded gTRDL will automatically convert to TRDL. The number of extra TRDL earned is dependent on the lock period. Currently a 4-week lock will yield approximately 15% (~180% APR), a fantastic yield for a single-stake. Rewards are weighted towards shorter duration lockups (not by much) so play around with the numbers and be sure to incorporate the cost of transactions into your math. * [Strudel Governance Portal](https://app.strudel.finance/governance) --- ## **Strudel Asset Information** Current Strudel assets, their blockchains, and their corresponding exchanges can be found in the following links. Trading and pooling links can also be found within as well. ### Ethereum * [vBTC (Uniswap v2)](https://v2.info.uniswap.org/token/0xe1406825186d63980fd6e2ec61888f7b91c4bae4) * [vBTC (Uniswap v3)](https://info.uniswap.org/#/tokens/0xe1406825186d63980fd6e2ec61888f7b91c4bae4) - NEW * [TRDL (SushiSwap)](https://analytics.sushi.com/tokens/0x297d33e17e61c2ddd812389c2105193f8348188a): The majority of TRDL liquidity is on Sushi for the time being. It is currently recommended to trade TRDL on Sushi. * [TRDL (Uniswap v2)](https://v2.info.uniswap.org/token/0x297d33e17e61c2ddd812389c2105193f8348188a): Uniswap has very little TRDL liquidity for the time being, and hence has a high price impact. You will get less bang for your buck here. It is currently recommended to NOT trade TRDL on Uniswap unless you are an experienced arbitrage trader. * [vBCH (Uniswap v2)](https://v2.info.uniswap.org/token/0xb5badfa6e69728adba44d67c98b05f1d1d40182e) - NEW * [vBCH (Uniswap v3)](https://info.uniswap.org/#/tokens/0xb5badfa6e69728adba44d67c98b05f1d1d40182e) - Low liquidity currently * [OneVBTC (SushiSwap)](https://analytics.sushi.com/tokens/0x7bd198b9107496fd5cc3d7655af52f43a8edbc4c) - An [ICHI Organization](https://www.ichi.org/) stablecoin, oneVBTC is utilized in the Mare Imbrium Fund. OneVBTC can be acquired through swapping and/or minting (see Minting section). ### Matic * [vBTC (Comethswap)](https://charts.cometh.io/token/0x1489f4f7e3a80a0ad9fa23c39d2e8af818204ce9) * [TRDL (Comethswap)](https://charts.cometh.io/token/0xf89887862538ce8efbdbadd5d483ae4a09dd9688) * [gSAT (Quickswap)](https://info.quickswap.exchange/token/0x6a174b728d8b7c0c1f239910bb90b3540e1cc0dd) * [Mint gSat here](https://grumpy.nerd.finance/) ### Binance Smart Chain (BSC) * Coming soon --- ## **Charts** ### Ethereum * [TRDL](https://www.dextools.io/app/sushiswap/pair-explorer/0x05cc2e064e0b48e46015ead9961f1391d74e5f83) (Sushiswap) * [vBTC](https://www.dextools.io/app/uniswap/pair-explorer/0xcfdcd696dde5df39f569807c6934e6ba97cebb8a) (Uniswap v2) * [oneVBTC](https://www.dextools.io/app/sushiswap/pair-explorer/0x1803a3386d44f65746403060ab0137682f554484) (Sushiswap) * [vBCH](https://www.dextools.io/app/uniswap/pair-explorer/0x58645aa09d39fcfba8c5708a09258fc8a5d823f2) (Uniswap v2) ### Matic * [TRDL (Comethswap)](https://charts.cometh.io/token/0xf89887862538ce8efbdbadd5d483ae4a09dd9688) * [vBTC (Comethswap)](https://charts.cometh.io/token/0x1489f4f7e3a80a0ad9fa23c39d2e8af818204ce9) * [gSAT (Quickswap)](https://info.quickswap.exchange/token/0x6a174b728d8b7c0c1f239910bb90b3540e1cc0dd) ### Binance Smart Chain (BSC) * Coming soon --- ## **Liquidity Pools** Numerous pools exist for Strudel users, several of which are brand new and have low liquidity. This will change. Currently incentivized pools (yield farms) are listed in bold and their corresponding yield farms are listed in the yield farms section below. Acquire LP tokens at the following links: ### Ethereum * **[vBTC/ETH UNI-V2 LP (Uniswap)](https://v2.info.uniswap.org/pair/0x58645aa09d39fcfba8c5708a09258fc8a5d823f2)** * **[vBTC/ETH UNI-V2 LP - Zerion](https://app.zerion.io/invest/asset/UNI-V2-0xcfdcd696dde5df39f569807c6934e6ba97cebb8a)** (Zerion allows for trading single assets into LP tokens and combining assets into LP tokens in one transaction. This improves ease of use, adds efficiency, and lessens gas fees. Highly recommended!) * [vBTC/wBTC UNI-V3 LP (Uniswap)](https://info.uniswap.org/#/pools/0x2a5415c7c286209165362a269508057f3577a031) * **[TRDL/ETH SLP (Sushiswap)](https://app.sushi.com/add/ETH/0x297D33e17e61C2Ddd812389C2105193f8348188a)** * **[TRDL/ETH SLP - Zerion](https://app.zerion.io/invest/asset/SLP-0x05cc2e064e0b48e46015ead9961f1391d74e5f83)** * [oneVBTC/TRDL SLP (Sushiswap)](https://app.sushi.com/add/0x7BD198b9107496fD5cC3d7655AF52f43a8eDBc4C/0x297D33e17e61C2Ddd812389C2105193f8348188a) * **[vBCH/ETH UNI-V2 LP (Uniswap)](https://v2.info.uniswap.org/pair/0x58645aa09d39fcfba8c5708a09258fc8a5d823f2)** * [vBCH/renBCH UNI-V3 LP (Uniswap)](https://info.uniswap.org/#/pools/0x5d938b62a0847588ef6b35ee61efc8325351ff16) * **[ICHI oneVBTC Balancer Pool](https://pools.balancer.exchange/#/pool/0x5f78B2b5FC84A9a4F4111E0881D483CA92693F92)** * **[The Mare Imbrium Fund (Mare or MI Fund)](https://pools.balancer.exchange/#/pool/0xde5921f03ba2ec1a9efbeb6957273b5414193a3b)** - The Mare Imbrium Fund is a Balancer Smart Pool which holds WETH and various Strudel/Nerd Finance tokens. We have modified the MI Fund to hold TRDL, vBTC, vBCH, oneVBTC, TWA/ETH LP, and WETH in equal allocations (~16.67%). Currently only single asset liquidity can be provided. It has been proposed that providing liquidity to this pool and depositing Mare LP tokens on [Strudel's Terra-Farms](https://app.strudel.finance/farms) be incentivized with a 40% TRDL allocation in Phase 1.1 and 50% in Phase 2.0. Phase 1.1 has begun as of May 20, 2021. More information regarding the MI Fund can be [found here](https://strudel-finance.medium.com/strudel-liquidity-incentive-revision-slir-701bf366ec98) and a more complete guide will be released soon. ### Polygon (Matic) All these Comethswap pools are currently incentivized through their [liquidity mining program here](https://swap.cometh.io/#/stake). All these yield farms yield both TRDL and MUST (check current rates). These programs change weekly, so I'll try and keep this updated the best I can. * **[TRDL/MUST (Comethswap)](https://charts.cometh.io/pair/0x7f971fcfb6e6c4c631774242bdccd88dc9780f37)** * **[vBTC/MUST (Comethswap)](https://charts.cometh.io/pair/0x73a4cf4ed6a10d37fd6cebec3f4ffa2dea1234c4)** * **[vBTC/WETH (Comethswap)](https://charts.cometh.io/pair/0x946b849a44c0d543af8a3a2f664eb47e033ec691)** * **[vBTC/wBTC (Comethswap)](https://charts.cometh.io/pair/0x65448069fb08cae130a2a8952e9a806c70b050c2)** ### Binance Smart Chain (BSC) * Coming soon --- ## **Liquidity Mining (Yield Farms)** Multiple high APY farms exist for Strudel assets on various protocols. Deposit your LP/SLP tokens to generate passive income in various forms at the following links. ### Ethereum * Native Strudel Terra-Farms (Yield: TRDL) * [TRDL/ETH SLP](https://app.strudel.finance/farms/$TRDL-ETH%20SLP) * [vBTC/ETH UNI-V2 LP](https://app.strudel.finance/farms/vBTC-ETH%20UNI-V2%20LP) * [Mare Imbrium Fund BPT](https://app.strudel.finance/farms/MARE) * [vBCH/ETH UNI-V2 LP](https://app.strudel.finance/farms/vBCH-ETH%20UNI-V2%20LP) Current Strudel Terra-Farms TRDL allocation is conducted in accordance with Phase 1.1 as of May 20th, 2021. ![](https://i.imgur.com/wAoeRkc.png) * Sushi Farms (Yield: Sushi) * [TRDL/ETH SLP](https://app.sushi.com/yield) (search for TRDL-ETH pool) * Ichi Farms (Yield: ICHI) * [oneVBTC Balancer Pool](https://www.ichi.farm/#/farm?one-token-balancer-smart-v2) ### Polygon (Matic) * Comethswap Farms (Yield: TRDL and MUST) * [TRDL/MUST LP](https://swap.cometh.io/#/stake/0xf89887862538cE8eFBdbAdD5d483AE4A09dD9688/0x9C78EE466D6Cb57A4d01Fd887D2b5dFb2D46288f/0x8Cf8C7Db0Ab27985973a0E01A8a5CE2CFfd468ed) * [vBTC/wBTC LP](https://swap.cometh.io/#/stake/0x1BFD67037B42Cf73acF2047067bd4F2C47D9BfD6/0x1489F4F7E3a80A0aD9fA23C39D2E8af818204ce9/0xd65bfB8b20B08724F2772f95296dCd4ebEBACfcb) * [vBTC/ETH LP](https://swap.cometh.io/#/stake/0x7ceB23fD6bC0adD59E62ac25578270cFf1b9f619/0x1489F4F7E3a80A0aD9fA23C39D2E8af818204ce9/0xFD37a2266605830A1589E778E33A9A24394d2E93) * [vBTC/MUST LP](https://swap.cometh.io/#/stake/0x9C78EE466D6Cb57A4d01Fd887D2b5dFb2D46288f/0x1489F4F7E3a80A0aD9fA23C39D2E8af818204ce9/0x6779689d29C407Ab97545Bf2Cb8cbcB93370e5fe) ### Binance Smart Chain (BSC) * Coming soon Strudel liquidity incentives and yield farms often change. Please stay in touch with the happenings in the official [Strudel Telegram group](https://t.me/StrudelFinanceOfficial) and our [Medium page](https://strudel-finance.medium.com/). --- ## **Minting OneVBTC** You can either [swap for oneVBTC](https://analytics.sushi.com/tokens/0x7bd198b9107496fd5cc3d7655af52f43a8edbc4c) or you also have the option to [mint your own oneVBTC on Ichi.farm](https://www.ichi.farm/#/mint?vbtc). To mint one oneVBTC, it requires $1 with a ratio of 98.2% USDC and 1.8% vBTC at the time of writing. This value fluctuates. A few key points: 1. vBTC funds used for minting accrue in a vBTC treasury for later use by the Strudel team. 2. oneVBTC is used for pairings in two high APY farms, one on Ichi.farm, and the other on Strudel.finance. 3. A single oneVBTC is ALWAYS and ONLY **redeemable** for $1 USDC on the Ichi protocol, but can be **swapped** on Sushiswap for whatever the current price is. This fluctuates above and below $1. 4. Because of #3, it's worth your time to evaluate whether minting or swapping oneVBTC is the most cost-efficient option. In general, if oneVBTC is below $1, swap for oneVBTC. If oneVBTC is above $1, mint it. This is because it always **only costs $1** to mint a single oneVBTC. 5. Take price impact and gas prices into account when making your decision to mint or swap. 6. This can be confusing, so please ask in the chat or DM a team member if you have any questions. --- ## **Current Partners** * [Nerd Finance](https://nerd.finance/) (our organizational layer) * [Sushi](https://sushi.com/) * [Ichi](https://www.ichi.org/) * [Ferrum Network](https://ferrum.network/) * [AGA Bitcoin mining protocol](https://agatoken.com/) * [TWA: The Adventure Token](https://www.adventuretoken.com/) * [Kitten Finance](https://www.kitten.finance/) * Venture capitalist firms (and seeking more) * If you want your name on this list, please contact us. Let's talk shop. --- ## **Links** Please have a look at the following helpful links to see why Strudel is a unique, significant, and profitable protocol within the DeFi ecosystem and learn how to get involved. Please ask any questions you may have in our [Telegram](https://t.me/StrudelFinanceOfficial) group or DM @HisDudeness47. We love to help and we love feedback. * [Strudel Finance website](https://strudel.finance/) * [Strudel GitHub](https://github.com/strudel-finance/) * [Strudel Manifesto](https://strudelfinance.medium.com/strudel-manifesto-580759f9634b) * [Strudel Wiki](https://hackmd.io/Ixx6ls_LTEe5ChZVpFip3A) * [Strudel Tutorials](https://hackmd.io/@HD-Strudel/rJwjnI8Vu) (updates soon) * [Strudel Mediums](https://strudel-finance.medium.com/) * [How to Enter the Strudel - The Bitcoin Edition ](https://strudelfinance.medium.com/how-to-bridge-the-bridge-679891dd0ae8) * [How to Enter the Strudel - The Bitcoin Cash Edition](https://hackmd.io/dz1Ue8bXRYSM6APYrt7g2w) * [AGA Partnership Medium](https://hackmd.io/kMuNYh3-QXuvbzMrxM4u3Q/) * [Excellent Satoshi Stacker Strudel Finance video](https://youtu.be/nocKfxKn--c) * [A Bitcoin Investment Thesis](https://hackmd.io/TGUAXew8QZigK5aRqvIFxg), courtesy of our Chief Technical Officer, Carlos (@Ataxia1) * [TRDL Coingecko](https://www.coingecko.com/en/coins/strudel-finance) * vBTC Coingecko (hopefully soon!) * vBCH Coingecko (same!) * [TRDL Etherscan](https://etherscan.io/token/0x297d33e17e61c2ddd812389c2105193f8348188a) * [vBTC Etherscan](https://etherscan.io/address/0xe1406825186d63980fd6e2ec61888f7b91c4bae4) * [vBCH Etherscan](https://etherscan.io/token/0xb5badfa6E69728aDBA44D67c98b05F1d1d40182e) * [oneVBTC Etherscan](https://etherscan.io/token/0x7bd198b9107496fd5cc3d7655af52f43a8edbc4c) * [Strudel Official Twitter](https://twitter.com/EnterTheStrudel) * [Strudel Unofficial Twitter](https://twitter.com/StrudelComm) --- ![](https://i.imgur.com/rig8Fkg.jpg)