Terra USD (UST) is a decentralized stablecoin released in the Terra network, it’s supplied by the native Luna token and is used by creditors and debtors in decentralized finances, such as Anchor Protocol.
UST also exists on Ethereum as a wrapped ERC20 token, which expands it and allows it to be used in Ethereum smart contracts.
UST on Terra and UST on Ethereum are 100% accurate to each other and can perform cross-chain transfers using Terra Bridge.
Where and how you can get UST
- The crypto exchange KuCoin
- On the decentralized exchange Uniswap
- You can buy Luna on the popular Huobi and Binance exchanges, withdraw them to a Terra Station wallet, within the wallet perform a Luna to UST exchange, and then, using Terra Bridge, transfer them to Ethereum.
UST to Minter
UST on Minter is a wrapped UST of the ERC20 format that has more advantages thanks to the nature of Minter.
On the Minter blockchain the UST stablecoin has the ticker USTE and is fully supplied by ERC20 UST.
USTE tokens on Minter
USTE hot wallet —
USTE cold wallet —
UST tokens on Ethereum (supplying USTE on Minter)
UST hot wallet —
UST cold wallet —
To minimize fee expenses, on Minter wrapped tokens are released in packets (they won’t exactly be 1:1 accurate with the supplying coins on Ethereum). But only the 100% supplied amount will be allowed to roam on Minter, the rest will be on the hot wallet and the cold wallet, which are controlled with multisigs.
It doesn’t affect security and reliability, since minting and burning wrapped tokens on Ethereum is also managed by multisigs and they can be minted or burned at any moment upon reaching a required amount of votes. In this case Minter has an advantage over Ethereum as it doesn’t spend any money at all on fees.
The first packed of USTE on Minter consists of 10 000 000 000 USTE.
At the moment of writing the cold wallet has 9 999 000 000 USTE.
Meanwhile the hot wallet has 1 000 000 USTE.
When users are performing UST transfers from Ethereum to Minter, these tokens will be roaming and their amount will be calculated like so:
10 000 000 000 - *hot wallet total* - *cold wallet total* = *amount of roaming USTE*
Liquidity pools with USTE
By clicking on a pair you can see all the basic liquidity information, token price correlation, daily trade volume, daily fee amount received by liquidity providers and the current APY — yearly profitability.
And on the page of the pair at Chainik you can also track the price change graph.
UST cross-chain transfer
You can learn about transferring UST and other tokens from Ethereum to Minter and back at our page about cross-chain transfers.
Advantages of UST on Minter
The advantages of having a wrapped UST, like other tokens on Minter, lie in the blockchain’s possibilities — first off, the transaction speed (less than 5 seconds) and the low fees ($0.01 for a transfer and $0.03 + 0.2% for a conversion). You can learn about other advantages Minter has at a corresponding page on our database.
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