Set your Instant Pot to saute. Heat two tablespoons vegetable oil, and then lightly salt both sides of the roast. Brown both sides of the roast, it should take about 6 to 7 minutes per side to brown the roast.
Then add 1 package dry onion soup mix, 2 tablespoons tomato paste, and 2 cups of beef broth or stock. Set your Instant Pot to high pressure (it defaults to high), for 60 minutes.
After the pressure cooker has finished processing, perform a quick release. Add onions, potatoes, and carrots.
Set your Instant Pot to high pressure for 4 minutes. After this cooking cycle you may perform a quick release.
If desired you can add a package of dry onion soup mix to the roast for an extra layer of flavor.
Consider using root vegetables like parsnips and rutabagas for variety.