WARNING: this tutorial was made prior to the Terra collapse so it is now only for entertainment purposes only.
Following on from our quick take yesterday (https://youtu.be/lDGS-n8j2Oo) here’s a walkthrough on putting your UST to work using Anchor protocol which is built on Terra. For this tutorial we’ll look at setting up the Terrastation chrome extension, we’ll demonstrate how to port UST from Ethereum to Terra using a bridge (MIRROR) and finally what happens when you commit your funds to the savings product.
Anchor protocol aims to deliver a fixed rate of 20% APY on your deposits. A huge improvement over traditional savings accounts in trad fi. As always, please exercise caution and common sense. This is NOT financial advice.
Anchor Protocl: https://anchorprotocol.com/
The Anchor web app: https://app.anchorprotocol.com/earn
The ETH side of the Mirror bridge: https://eth.mirror.finance/my
The TERRA side of the Mirror bridge: https://terra.mirror.finance/
The Terrastation chrome extension: https://chrome.google.com/webstore/detail/terra-station/aiifbnbfobpmeekipheeijimdpnlpgpp
Metamask chrome extension: https://chrome.google.com/webstore/detail/metamask/nkbihfbeogaeaoehlefnkodbefgpgknn?hl=en
UST on Uniswap: https://app.uniswap.org/#/swap?inputCurrency=0xdAC17F958D2ee523a2206206994597C13D831ec7&outputCurrency=0xa47c8bf37f92aBed4A126BDA807A7b7498661acD
Subscribe to our newsletter for free and stay up to date on everything happening in DeFi: https://newsletter.thedefiant.io/
Follow The Defiant
#TheDefiant #DeFi #Decentralized #Finance #Blockchain