How to get UST on Binance Smart Chain for 20% staking on Anchor Terra (2024)

1. Swap BNB to BUSD. BUSD is Binance US Dollar. This can be done easily on PancakeSwap. If you already have BUSD then you can skip this.

2. Swap BUSD to UST on ACryptos Stable Swap. I like this swap because of low fees and low slippage (I would recommend using 0.1% slippage). Please note that USDC, USDT, DAI, BUSD are all supported for swapping.

Congratulations you now have UST!!!

If you already have a Terra Wallet setup you can skip this section.

1. Download the Terra Station Chrome Extension: https://chrome.google.com/webstore/detail/terra-station-wallet/aiifbnbfobpmeekipheeijimdpnlpgpp
2. Create a new wallet. Make sure that you save the mnemonic phrase, account name and password. If you want to recover an old wallet just having the mnemonic phrase isn’t enough, you must enter the exact same account name as well.
3. Copy your terra wallet address for later use.

Now we’re ready to bridge our UST from Binance Smart Chain to Terra!

1. Navigate to the Terra Bridge: https://bridge.terra.money/

2. Make sure that you’re going from BSC to Terra. Then change the Asset to UST. Enter the amount you want to bridge (I always try with a small amount first). Then enter your Terra Wallet address into the Destination Address field.

3. Click next and confirm the transaction.

4. It will take around 5 minutes for your UST to arrive in your wallet.

1. Navigate to https://app.anchorprotocol.com/earn
2. Connect your Terra Station Wallet to the Anchor Application.
3. Click on Deposit and enter the amount you want to deposit. Click Proceed and confirm the transaction in your wallet.

4. Enjoy your auto compounding gains!!!