Native Terra tokens (TerraUSD, Luna) and ANC are interchain tokens -- they are available on the Terra blockchain and the Ethereum blockchain, also being available on the Binance Smart Chain (BSC) in the case for Native Terra tokens.
Interchain transfers between different chains are facilitated by the Shuttle bridge. Tokens transferred to blockchains other than Terra follow the most widely adopted standard on the chain (e.g. ERC20 for Ethereum) and are backed 1:1 with its counterparts on the Terra blockchain.
Token Contract Addresses
Luna
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Terra USD
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Anchor Token (ANC)
User Interfaces / Usage
Terra Bridge and Terra Station are two major interfaces that allow users to easily perform interchain transfers. A guide for transferring tokens from a source chain (where tokens are sent from) to a destination chain (where tokens are sent to) is provided below.
Terra Bridge
Terra Bridge is a web interface created specifically for interchain transfers. When a interchain transfer is requested, Terra Bridge will generate a transaction in the appropriate format that encodes the necessary data required for the transfer.
1. Connect Terra Bridge With A User-Owned Account
In order to sign transactions created through Terra Bridge, users must have the relevant software installed for connecting the Terra Bridge WebApp with the user-owned account on the source chain. This can be achieved via wallet extensions or services that enable wallet-to-application connections.
Supported wallet extensions / services and their installation links are:
2. Specify Transfer Details
Before making the transfer, the details of the transfer should be specified by the user. The transfer details include:
Asset: the asset type to transfer.
From: source chain to make transfer from. Users must have an asset balance on this chain.
To: destination chain to receive transfer.
Amount: asset amount to transfer.
Destination: account address to receive transferred tokens.
3. Confirm Transfer Details
Confirm transfer details displayed on the WebApp and select [Confirm] to proceed.
Shuttle applies a fee of 0.1% (with a minimum 1 UST fee) for Terra to Ethereum transfers. Transfer requests below a transfer value of 1 UST are ignored.
4. Sign and Broadcast the Transaction
Confirm transaction details and click [Confirm] to sign and broadcast a transaction that encodes the interchain transfer request. Note that this request may be made from a different extension / service depending on the selected source blockchain.
5. Transfer Request Complete
A popup will show to display the details of the interchain transfer.
The Shuttle bridge waits for sufficient blockchain confirmations to occur on the source chain before making the transfer. It may take up to a few minutes for transferred token to be reflected on the destination chain.
Terra Station
Interchain transfers from Terra to Ethereum / BSC are also supported on Terra Station. Interchain token transfers through Terra Station can be achieved by following the below steps.
1. Select an Asset to Transfer
Select an asset to transfer and click [Send].
2. Specify Transfer Details
Users should specify the transfer details listed below:
Network: destination chain to receive transfer.
Send to: account address to receive transferred tokens.
Amount: asset amount to transfer.
Click [Next] after all details have been filled.
3. Confirm Transfer Details
Confirm transaction details, fill in the password and click [Send] to sign and broadcast a transaction that encodes the interchain transfer request.
Shuttle applies a fee of 0.1% (with a minimum 1 UST fee) for Terra to Ethereum transfers. Transfer requests below a transfer value of 1 UST are ignored.
4. Transfer Request Complete
A popup will show to display the details of the interchain transfer.
The Shuttle bridge waits for sufficient blockchain confirmations to occur on the source chain before making the transfer. It may take up to a few minutes for transferred token to be reflected on the destination chain.
FAQs
Interchain transfers between different chains are facilitated by the Shuttle bridge. Tokens transferred to blockchains other than Terra follow the most widely adopted standard on the chain (e.g. ERC20 for Ethereum) and are backed 1:1 with its counterparts on the Terra blockchain.
What is the anchor protocol for UST? ›
Anchor Protocol (ANC) is a decentralized finance (DeFi) protocol built on the Terra blockchain. It was launched by Terraform Labs on March 17, 2021, with the goal of providing a low-volatility savings system for users. The protocol allows users to deposit UST (Terra USD) and earn interest rates as high as 20%.
Which wallet supports the anchor protocol? ›
Crypto Wallets
If security and complete control over your crypto assets are your top priorities, you may wish to buy and store Anchor Protocol (ANC) using a non-custodial wallet, such as KuCoin Wallet or MetaMask.
What is interchain blockchain? ›
The interchain is a network of interoperable blockchains, each implemented with different properties suitable for their individual use cases. The interchain lets developers create blockchains that maintain sovereignty free from any "main chain" governance, have fast transaction processing, and are interoperable.
How does the anchor protocol work? ›
How does Anchor Protocol work? Anchor Protocol is a DeFi protocol that allows users to enjoy a financial system of loans based on stablecoins. The idea is simple: a lender deposits their UST in Anchor and that UST is used to make collateralized loans for which they receive interest.
What happened to the anchor protocol? ›
ANC, the cryptocurrency of Terra's flagship decentralised finance (DeFi) platform, Anchor Protocol, crashed in early May after the depegging of the algorithmic stablecoin TerraUSD (UST). There has also been uncertainty over the future of ANC since Terra forked into a new chain without its fallen stablecoin.
What is the difference between tether and UST? ›
1 USDT equals 58.31 UST. The current value of 1 Tether is -0.66% against the exchange rate to UST in the last 24 hours. Create a free Kraken account to instantly convert USDT to UST or trade USDT/UST markets today.
Who is the founder of Anchor Protocol? ›
Who Are the Founders of Anchor Protocol? Anchor Protocol was founded in March 2021 by Terraform Labs, a South Korean fintech company founded by Daniel Shin and Do Kwon.
Is anchor a stablecoin? ›
Anchor is a stablecoin offering users long-term price stability and protection from inflation, while hedging against daily market volatility.
Where to swap Anchor Protocol? ›
ANC tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade Anchor Protocol is MEXC, where the most active trading pair ANC/USDT has a trading volume of $6,057.29 in the last 24 hours.
The interchain stack is an architecture for scalable, secure, and interconnected blockchain-based apps and services. It utilizes IBC, the best-in-class bridging technology, and libraries for chain interoperability. Learn the stack. -> Cosmos SDK.
What is interchain foundation? ›
The Interchain Foundation develops and maintains foundational, decentralized protocols and supports organizations building an internet of shared resources, security, and value creation.
How does interchain security work? ›
# How it works
Using the Inter-Blockchain Communication (IBC) protocol, packets are relayed to make sure the consumer chain knows which validators are securing the Cosmos Hub and how much voting power they have.
What is the yield of the anchor protocol? ›
Anchor Protocol was founded to increase demand for Terra's native stablecoin, UST, by offering a 20% yield to lenders. It also allows traditional finance participants to integrate with DeFi.
What is an anchor and how is it used? ›
Generally an anchor is used to stop a ship moving. An anchor changes the forces that are acting upon the ship. An anchor acts like a hook; it hooks the ship to the seafloor. The anchor is lowered onto the seafloor, falls over and is then dragged along the seafloor.
What is the anchor protocol for borrowing? ›
Anchor Protocol is a lending and borrowing protocol offering up to 19.5% yield on stablecoin deposits. Lenders can deposit their UST and earn attractive rates on their investments while simultaneously benefiting from low volatility.
What is the OSHA standard for anchor points? ›
29 CFR § 1926.502(d)(15) requires the anchorages to support 5,000 pounds per employee or as an alternative (d)(15)(i) requires maintaining a factor of safety of at least two to the maximum fall arresting force of the personal fall arrest system.
What is the safe anchoring depth? ›
(d) The depth at which the vessel can safely anchor is about 110m or less, beyond which the windlass may have extreme difficulty in recovering the anchor. Anchors should be ready for letting go on arrival and departure port, when in anchoring depths.
What is the anchor rule? ›
The club is anchored “directly” when the player intentionally holds the club or a gripping hand in contact with any part of his body, except that the player may hold the club or a gripping hand against a hand or forearm.
What are the anchor standards for concrete? ›
Such anchors shall extend not less than 5 inches into the concrete and shall have a cross-sectional area of not less than one-fourth of a square inch and shall be provided with a fluke at the end of the anchor not less than 1 inch in length.
