Instant Pot Beef Bourguignon

Name: Instant Pot Beef Bourguignon
Ingredients: 3/4 cup onions (or shallots , chopped); 4 strips bacon (diced); 1 tablespoon vegetable oil; 2 pounds beef chuck (cut into 1-inch pieces); 1/2 teaspoon kosher salt (plus more, to taste); 1/4 teaspoon black pepper; 3 cloves garlic ( minced ); 2 carrots (peeled, cut into 2-inch slices); 1 1/2 cups red wine (such as pinot noir, cabernet sauvignon, or merlot); 1 1/2 cups beef stock (preferably unsalted); 1/2 teaspoon beef base (or beef bouillon granules); 2 bay leaves; 3 sprigs fresh parsley (plus extra for garnish); 2 sprigs fresh thyme; 2 tablespoons tomato paste; 2 tablespoons flour; 2 tablespoons butter (softened); 6 ounces mushrooms (quartered); Optional: 1 cup pearl onions