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Bond or Delegation is the process of delegating to a whitelisted validator. When delegating an asset, such as Luna, you’ll get a bAsset in return, for example bLuna. bAssets are used as a deposit when commencing a loan.
To delegate Luna and release bLuna with 1:1 accuracy complete the following steps:
- In the Mint tab, choose a validator and click Mint. Also pay attention to the fee, make sure to always account for it
- Enter your Terra Station password and press Submit
- Done. You’ve successfully delegated Luna and received bLuna tokens for it. Now you can receive UST rewards if you’re not using bLuna as a deposit, in which case you can take loans in the UST stablecoin
To burn bLuna and receive Luna you have 2 options: a 21 day unbond period (on a regular validator unbond) and instantly. Let’s go over both of them.
For a regular burn you can withdraw Luna tokens in 21 days on the Claim tab (more info below, in the Claim section).
- Specify the amount of bLuna you want to burn to receive Luna, then press Burn. Always account for the fee.
- Enter your wallet password and press Submit
- Done. In 21 days you can withdraw your Luna in the Claim tab (more info below in the Claim section)
On an instant burn you’ll receive your Luna tokens without waiting the 21 day unbond period. But in this case you’ll get a lot less Luna. That’s the price for the speed.
- Go to the Instant burn tab and enter the amount of bLuna to burn and press Burn
- Enter the wallet password and press Submit
- Done. Your Luna is now on your wallet
Claim is the tab where the user gets profits for minted, but not deposited bLuna tokens, and withdrawing Luna which will appear here in 21 days.
Here you’ll see the current extractable amount of Luna. Below there are two dates: request date - when the bLuna was burned (with the amount next to it) in exchange for Luna, and the claim date - when the Luna (with the amount next to it) will be available to be claimed.
Here you can see the amount of UST which has been received as a reward for minted, but not deposited bLuna tokens. You can only claim the rewards when their volume is higher than the transaction fee.
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