Recently, Terra’s UST has witnessed many complications. Our most recent communications feature information related to the Terra 2.0 — LUNA Airdrop article, explaining that all owners of UST on the Terra Network until 26th May 19:59:51 hrs (UTC) will be eligible for a drop of LUNA tokens.
As SwissBorg’s UST asset is not listed on the Terra Network, our app users have to find an alternative way to bridge the tokens from one chain to the other.
This article explains how to bridge UST (ERC-20) listed in the SwissBorg app to the Terra Network.
Please note that, at the time of writing, it is also possible to send the funds directly to Binance, and to transfer them out on the Terra Blockchain, but that the method showcased in this article can be executed in a more timely manner if you do not have or want to open a Binance account for the process.
Thank you for your patience as we navigate through the new information regarding this airdrop.
To follow this tutorial you will need:
- SwissBorg app and UST in the UST Account (Current Balance)
- A MetaMask Wallet connected to Ethereum Network and a small amount of Ethereum for the gas fees needed for Bridging. In tutorial case 0.00087 ETH, but we would advise to have more.
- A Terra Station Wallet
- Access your UST Account from the portfolio screen and click Send
2. Select Wallet Address
3. You have to click I understand to show that you can only send your UST tokens using Ethereum network.
4. Input the Ethereum Address from your Metamask wallet and select the amount you want to transfer. When you are certain that you have entered the right address, click Next.
- Click Confirm and input your Password or use Biometrics.
6. After confirming, you will see that your Withdrawal is being processed. You can then click Close.
BRIDGING FROM ETHEREUM NETWORK TO TERRA NETWORK
For this final step, we will use Terra Bridge.
We will need Metamask with UST (ERC-20) and Terra Wallet Address.
- Open the Terra Bridge and select SHUTTLE.
2. Make sure that UST is visible in your Metamask wallet.
- Open the Metamask wallet
- Scroll down and click Import
- Input UST and click on it
3. Make sure that your Metamask is connected to the Ethereum Network and click Connect Wallet, then select Metamask.
4. Now you have to approve the connection with Metamask in two steps.
5. Your wallet should be now connected and this should be visible.
6. Open the Terra Station and copy the Terra Wallet address.
7. Input the amount or click Max, input the Terra Wallet Address and click Next at the bottom.
8. After clicking Next a confirmation screen will appear, click Confirm.
9. After clicking Confirm, a Metamask notification will appear where you have to click Confirm.
10. After this confirmation, a new screen will appear with transaction details and the status of Complete.
Your funds will be visible in your Terra Station Wallet after a few minutes.
Warning: Please remember that if you decide to use Binance for this operation, you have to select the Luna (Terra) network as the output blockchain and enter your Terra Station Wallet.