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

How to deposit UST on Anchor Protocol

1. INTRODUCTION

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.

 

2. HOW TO DEPOSIT UST ON ANCHOR PROTOCOL (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

 

 

3. NOTES AND CLARIFICATIONS

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

 

4. ANY FURTHER DOUBTS?

If you have any questions though, leave them below.

 

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One Comment

  1. 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?

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