Terra (Luna) Learn: A Leo Finance Special

Good morning Lions I trust you are safe and well.

I want to open up today's segment with that this is not financial advice and a disclosure that I have been purchasing Terra (Luna) and building my investment into it. A few people have been asking me about some ideas on how to engage with the Terra Network as it has been gaining some great traction and if you're in South Korea it is being used as a payment option. I think it is a great project and it is something I am investing in. But again, in doing so I am prepared for it to go to 0. So please invest safely if you choose to do so.

Luna Staking

The above image is a screen grab of the official Terra Network Terra Station, the brains of the operation and effectively your wallet. It has a lot more on offer compared to many other chains and ease of use is phenomenal (my opinion)

The data sets provided is a great inclusion with nicely sized interchangeable graphs between periodic and cumulative. You can also check the stats of all the Terra Stable Coins too. if you want to check other projects and there are about 18 in total now you will need to head over to coinhall

The Dashboard also includes its own swap and internal exchange which is pretty cheap, I believe and I could be wrong but to be listed here you need to pass some form of Quality Assurance Check as I have noticed some tokens are not listed.

The top right corner also provides you real time data on annualised and daily (if you switch to it) staking returns. This often fluctuates between the current % with the most I have seen over the past few months around 4.5% annually. Nothing major.

Validator Staking

Heading over to the staking station provides a list of validators that you can stake to in order to receive that annualised percentage rate. I won't recommend any validators as I do not know which ones are best to stake with and I will leave that research up to you.

I believe that as Terra is continuing to grow and expand the best form of action is to stake the main token for the annualised percentage rate noting that staking Luna also gets you air drops of most the other projects. Minimum is typically 100 Luna and I am not sure on how much the air drops are.

Anchor Option

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The other option is Anchor earn where you can deposit UST and receive a near 20% APY. You have another option on Anchor if you wish to choose it and it is upto you.

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You can bond LUNA into bLUNA which loans your Luna to a validator and then once you have done that head over to the borrow section.

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Over here you can borrow against your bLUNA and use it as collateral to mint UST doing so at current will net you .69% interest but at times that exceeds 10%.

Once you have your UST you can either use it to take into the UST stable coin pool or use the UST to purchase more Luna and if you want resupply it as bLUNA to lower your risk rating.

NEXUS Protocol

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Recently launched is the Nexus Protocol who's pools just went live two days ago. Here you can provide bLuna for an 8% APY.

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Also available is the option to pair nLuna with Psi token and farm Psi in one of the pools which also enables nETH. The project is leveraging off the Anchor pools but working some magic with numbers to make sure high risk loans don't get liquidated right away in the event there is another Crypto Winter. Caution advised and this hasn't been trialled and true as yet.

How to get nLUNA and nETH

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To get nLUNA or nETH you will need to visit TerraSwap and not the main wallet swap exchange as it is not available anywhere else. Once you have it you can swap your tokens for nASSETS and head back over to Nexus Protocol for those 200%+ APY which will most likely continue to decline as more people jump in.

How to get to Terra Network?

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For me I am able to buy into the project through KYC it does cost a little bit in fees but just stream lines everything. However there is a bridge available from BSC, Ethereum and Harmony One with further networks to be added such as Solana. This is helpful if you have assets on other networks that you can swap to Luna, UST or a select few other assets. You can get there from here but you will need a Terra Wallet to send things too.

Writers recommendation

Personally for me I am staking Luna onto the main chain with validators as I really see Luna as a token that will increase in value as it continues to mature. That being said I also anticipate a significant decline in value as purchasers who invested early at $US0.40c begin to unstake and sell. As unstaking takes 21 days there is probably a significant delay and staggered approach to dumping.

Terra has some high risk entries for people who like to love dangerously and I don't go near them for a number of reasons one is that I don't like gambling and mainly that I don't want to get liquidated as that is a major draw back for providing collateral and taking loans from crypto markets. One sharp dip or a sustained downward trend and you lost part or all of your asset.

You can read how to purchase Terra (Luna) from @forexbrokr Here

I hope you found this article useful and I look forward to sharing more information with you over the coming days.

Have a wonderful day!

Posted Using LeoFinance ^Beta