How to deposit UST on anchor protocol (20% APY)

How to deposit UST on Anchor Protocol


Depositing UST on anchor protocol is as easy as connecting your Terra Station Wallet to the web app of anchor protocol and click a button.

Near instant transactions. Low fees. The UX is years away from any ETH DeFi protocol.

If you don’t have a Station wallet or Terra UST, don’t worry, below you can find the steps to buy UST, send them to your Terra wallet and depositing them on anchor protocol to generate a 20% APY.



  1. Buy UST on Kucoin.
  2. Send those UST to your Terra Station wallet (you can create one on the official Terra money website).
  3. Connect your Terra Station wallet to anchor protocol here.
  4. Deposit UST on anchor protocol.


Anchor protocol UST deposits




  • To send UST from Kucoin to your Terra Station wallet, make sure you use the Terra network (not the Ethereum one).



If you have any questions though, leave them below.


Learner Trip

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  1. Hello I am faced with a bit of an issue with anchor protocol. I deposited UST from my MetaMask wallet through the terra bridge app to anchor and anchor provided me with a terra station address that is different from my terra station wallet qrl code. I can’t withdraw my funds to my terra station account wallet. How can I be able to do the withdrawal?

  2. Hi Javier,
    Early Sept- I unbonded some Luna on Anchor. Said it takes 21days and I didn’t think about the Columbus 5 upgrade at that time as I’m new to the ecosystem. Now it shows my Luna ready to be claimed, but I get an error message when trying to claim it. It says: please verify account number (…), sequence (5), and chain-id (Columbus-5): unauthorized. Can anyone help? I don’t know what to do. Thanks

  3. Has anyone else noticed that the Terra network option is removed / down on KuCoin to send my UST in KuCoin wallet to my Anchor wallet, on the Terra network? So my UST is stuck on KuCoin at the moment and I can’t get it into my Terra Station wallet (and onto to the Anchor Protocol). What other options are there to get my USDC or UST into my Terra Station wallet?

    • Hi Henry.

      Terra updated its whole protocol just a few days ago (Columbus-5). From that day, Kucoin and Binance closed the deposits/withdrawals of $LUNA presumably to not put at risk their user’s funds (we users were advice not to move $LUNA or $UST during the update).

      I’m sure they will resume this very soon.

      Ps. Unfortunately, I don’t know any other exchange that has the LUNA/UST deposits and withdrawals open.

    • The method I’m using right now is to send my Luna from Kucoin to my Terra Station Wallet and use the Swap on the platform to change it to UST.

    • I used to buy USDT on Binance (low Tron withdrawal fees), transferred it to Kucoin then. As I got annoyed by Binance (they blocked my card deposits and they do not enable free SEPA either – only via ADV Cash with their low limits and annoying demands for source of funds documents), I have recently tried the way via Coinbase Pro. (almost zero transaction fees for Euro-stablecoin pairs, then waiting for low ERC-20 transfer fee on Sunday (about 6 USD); I got UST from there to Kucoin and then only paid 4 UST for the transfer to Terra station – complicated but quite cheap). I am afraid the withdrawal process is much more expensive/complicated. I wonder if there is a wallet which allows you to pay gas fees in-coin and not demand any ETH holdings…

  4. both coinbase and metamask say my terra station wallet address are not correct
    metamask : “recipient address is invalid”
    coinbase: “invalid ust address”

    • What are you trying to do, Rob?

      Sending $LUNA from Coinbase/Metamask to your Terra Station Wallet?

      I’m 99.99% sure the problem is that you’re trying to send ERC-20 LUNA (The LUNA token on the Ethereum protocol) to the LUNA protocol. And you can’t do that.

      Buy LUNA on Binance or Kucoin and send them through the LUNA protocol to your Terra Station Wallet.

      I hope all of this make sense.

      If not, just ask again. I know this world can be sometimes confusing.

  5. Thank you very much. I tried this as my first way of transferring the money but I was suprised to lose UST on fees/swap. Now I am trying the way via Kucoin.

  6. When I try to deposit my UST in Anchor, at the step 4, it apperas this message:
    Failed to receive responses to post(Tx) for 120000milliseconds
    I the operation gets cancelled. I dont know how to do to deposit them, could you help me? Thanks in advance

  7. Thanks for the instructions but it does not seem so easy to me: which address do I have to use for sending my UST to Terra Station? Just the general wallet address, not a specific one for UST, which I cannot find anywhere? Thanks. It should be clearly explained in the Terra Station wllet in the first place. But I afraid as in the whole crypto sector, the designers think everybody knows or they have to spend hours searching on Google. Why is nothing easy and straightforward in the realm of crypto?

    • Hi Alonzo.

      1) You need to send the UST to your Terra Station wallet. The one that starts with terra…. For example, mine is this one: terra14l46jrdgdhaw4cejukx50ndp0hss95ekt2kfmw

      2) Send just a few UST to make sure it works. Then do the rest.

      Ps. I agree with you about crypto not being ready for the average user, but unfortunately for now, terra/anchor UX are one of the best in the whole space. The daily rewards will make it up for it. You’ll see.

      • Thank you very much for your answer. So I take it the address for sending UST is the same like the one I used for sending Luna. I have asked this question because I am used from other wallets that the address is different for every coin. I am glad that I am not the only one missing user-friendliness in the crypto sector.
        I have stumbled upon another question. You do not have to answer as you are not employed by any crypto company. But due to the lack of customer support, I must try posting it on social media to get an answer somewhere.
        The claimable ANC reward balance for my UST loan has remained the same for days in the little pop-up window. But the value in the table on the Govern page is much higher probably being correct. Very confusing.
        It is also unclear to me whether the ANC rewards for the loan are provided based on the nominal value (e.g., 100 UST loan, 150 pcs. of ANC annually) or if that number is based on the real ANC value (its fluctuations).
        And finally, I have been trying to find out a cheap way of getting UST on Anchor. Binance sadly does not offer them. I have set up a Polonex account with lots of effort only to find out that their USDT-UST market is dead and I would have to wait days for my order to be filled. And the few UST I partially got could not be transferred to Terra. I transferred my Luna from Binance to Terra (for very low fees) only to be subject to some swap spread there. everybody speaks about Pancake but I would have to use a bridge. (unbelievable – why have people designed cryptos in the 21st century in such a way that they cannot be easily transferred without such tools – it is as if you have USD, EUR in one country but it was not the same as USD, EUR in another country because it is wrapped.) But that Terra bridge does not seem to work with Trust Wallet (recommended by Binance) but I have to set up another wallet. This is what I mean by complicated. Now I am going to try Kucoin, let me see. Sorry for airing this complaint here. I only wish I could speak to the managers of crypto platforms and crypto designers to complain to them directly. Thanks for your attention.

        • Another thing you can do is sending LUNA to your Terra Station Wallet and swap them for UST (“Swap” tab). 😉

          • Thanks, Javier. But I am reluctant to use a volatile asset for transfers in case it changes its value during the transfers. That is why I prefer stablecoins even for the transfer. But it is not so easy considering the not so wide adoption of UST or their complicated versions on other blockchains.

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