Last updated on April 25th, 2022
You may have heard of the Osmosis platform, which is a DeFi platform to trade inter-blockchain tokens.
If you’re looking to use this platform with your LUNA and UST, the only way you can interact with it is through the Keplr Wallet.
Here’s a guide on how you can do so:
How to send LUNA and UST to Keplr
Here are 4 steps to send LUNA and UST to your Keplr Wallet:
- Add the Terra network to your Keplr Wallet
- Obtain the Terra deposit address on your Keplr Wallet
- Send LUNA or UST to your Keplr Wallet using the Terra network
- Receive LUNA or UST in your Keplr Wallet
You can view this video guide for the steps:
Otherwise, here is each step explained further:
Add the Terra network to your Keplr Wallet
Before you can send LUNA and UST to your Keplr Wallet, you will need to add the Terra network to your Keplr Wallet.
This will allow you to have a ‘terra‘ address that you can send your LUNA and UST to.
You can view my guide on how to add the Terra network to your Keplr Wallet to find out more.
Obtain the Terra deposit address on your Keplr Wallet
Once you have added the Terra network to your Keplr Wallet, the next step will be to obtain your Terra deposit address.
To access the Terra network, you will have to scroll all the way down to the ‘Beta support‘ section of the wallet.
You will be able to view the Terra network deposit address on your Keplr Wallet.
You can click on the ‘terra‘ address to copy the entire address to your clipboard.
Send LUNA or UST to your Keplr Wallet using the Terra network
The next step will be to send LUNA or UST from a platform of your choice to your Keplr Wallet.
Here are 5 platforms for your consideration:
|Binance||0.02 LUNA||1 UST|
|Huobi||0.02 LUNA||0 UST|
|KuCoin||0.1 LUNA||4 UST|
|Gate.io||0.076 LUNA||5 UST|
|Bitfinex||0 LUNA||0 UST|
In terms of both LUNA and UST withdrawals, it seems that Bitfinex has the lowest fees when you want to make a withdrawal.
One thing you may want to note is that you should only send LUNA or UST via the Terra network. There are some platforms like Gemini and Coinbase that only allow you to buy the ERC20 version of LUNA and UST.
On Gemini and Coinbase, you are buying wrapped LUNA, and not native LUNA. You can find out the differences between these 2 tokens in my comparison here.
Receive LUNA or UST in your Keplr Wallet
After confirming the withdrawal, you should receive your LUNA or UST in your Keplr Wallet.
You can go to the Terra network under your Keplr Wallet,
and you should be able to see the balances of both LUNA and UST in your wallet.
This process is similar to how you would send ATOM or CRO to your Keplr Wallet.
How to send LUNA and UST to Osmosis
Here are 3 steps you’ll need to send LUNA and UST from your Keplr Wallet to Osmosis:
- Send LUNA and UST to your Keplr Wallet
- Go to ‘Assets’ on Osmosis and select ‘Deposit’
- Withdraw LUNA or UST from your Keplr Wallet to Osmosis
Send LUNA and UST to your Keplr Wallet
The first step you’ll need to do is to have LUNA and UST on your Keplr Wallet.
This is because the Keplr Wallet is the only wallet that allows you to interact with the Osmosis platform.
Go to ‘Assets’ on Osmosis and select ‘Deposit’
For the next step, you will need to connect your Keplr Wallet to the Osmosis platform.
You are only able to connect a Keplr Wallet to Osmosis, and you can’t use other wallets such as Metamask, or even your Terra Station wallet.
After that, you can go to the ‘Assets‘ tab on Osmosis,
and select ‘Deposit‘ on either LUNA or UST.
Withdraw LUNA or UST from your Keplr Wallet to Osmosis
After selecting ‘Deposit‘, you will be withdrawing either LUNA or UST from your Keplr Wallet to Osmosis
This is an inter-blockchain (IBC) transfer, from the ‘terra‘ network address on your Keplr Wallet to the ‘osmo‘ address on Osmosis.
After you have verified this transfer,
LUNA or UST will be deposited into the Osmosis platform.
You are now able to deposit your LUNA or UST into one of the liquidity pools in Osmosis!
Osmosis is a platform where you can earn really high yields on LUNA and UST.
This may be even better compared to staking your LUNA on Terra Station, or depositing UST into the Anchor Protocol!
This process is similar to how you would send ATOM to Osmosis as well.
If you’re looking to generate tax reports for your crypto trades, you can consider using Koinly, which allows you to track your transactions from 350+ exchanges and 50+ crypto wallets.
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