Crypto

How To Send LUNA And UST To Keplr And Osmosis

How To Send LUNA And UST To Keplr And Osmosis

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:

  1. Add the Terra network to your Keplr Wallet
  2. Obtain the Terra deposit address on your Keplr Wallet
  3. Send LUNA or UST to your Keplr Wallet using the Terra network
  4. 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.

Keplr Wallet Terra Select Network

You will be able to view the Terra network deposit address on your Keplr Wallet.

Keplr Wallet Terra Network Added

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:

PlatformLUNA
Withdrawal Fee
UST
Withdrawal Fee
Binance0.02 LUNA1 UST
Huobi0.02 LUNA0 UST
KuCoin0.1 LUNA4 UST
Gate.io0.076 LUNA5 UST
Bitfinex0 LUNA0 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.

If you send these tokens directly to your Keplr Wallet, there is a chance that your tokens may be lost forever! This is because Keplr only supports the Terra network, and not the ERC20 network.

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,

Keplr Wallet Terra Select Network

and you should be able to see the balances of both LUNA and UST in your wallet.

Keplr Wallet Terra Network Balance

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:

  1. Send LUNA and UST to your Keplr Wallet
  2. Go to ‘Assets’ on Osmosis and select ‘Deposit’
  3. 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.

Osmosis Conecct Wallet

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,

Osmosis Assets Tab

and select ‘Deposit‘ on either LUNA or UST.

Osmosis Deposit LUNA 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

Deposit LUNA Into 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,

Osmosis Verify LUNA Transaction

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 LUNA UST Liquidity Pools

Creating a histogram of stock retur...
Creating a histogram of stock returns | Analyzing stock returns #3
Conclusion

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.

90
20210707060206

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.


undraw pcsocial 16rw

Do you like the content on this blog?

To receive the latest updates from my blog and personal finance in general, you can follow me on my Telegram channels (Personal Finance or Crypto) and Facebook.

Are you passionate about personal finance and want to earn some flexible income?

You Might Also Like

    Total
    0
    Share