TERRA Luna on THORSwap: Earn Yield & Trade Cross-Chain Assets

All the exciting details + Walkthrough Tutorials to LP and Swap

THORSwap Finance
5 min readMar 25, 2022

We’re excited to celebrate an once-in-a-Blue-Moon DeFi event: The launch of TERRA Luna on THORChain!

A wise man once said…

On THORSwap #LUNAtics can:

  1. Swap native UST/ LUNA on a Cross-Chain Decentralised Exchange between native assets (BTC, ETH, BNB, DOGE, LTC, BCH) in one step. In fact, 25+ crypto assets across 7+ major blockchains will have a direct entry point to TERRA and vice versa. True Decentralized Access never before possible until now.
  2. Acquire UST and LUNA without needing CEXs, KYC, wrapped assets or bridge hopping. Truly permissionless, decentralised, and open to anyone around the world. You are your own custodian.
  3. Earn DeFi yields on UST/LUNA — enjoying great APY as well as features such as Impermanent Loss Protection.

THORChain & TERRA form the missing pieces of a Crypto Holy Trinity:

Decentralized Liquidity Protocol (THORChain) + Decentralized Stablecoin (UST) + Decentralized Store of Wealth (BTC)

Learn more about THORFi

For all LUNAtics, it’s an exciting time to explore the DeFi investment strategies and utility available on THORChain. Exciting new features are in the works, including:

  1. THORSynths (live)— THORChain Native Synthetic assets with instant settlement, low gas and no risk of Impermanent Loss provides great utility for traders and arbitrageurs.
  2. Lending — borrow USD from blue-chip LP positions with 0% interest, no liquidations, with as low as 100% collateralization ratio.
  3. THORSavings — an yield-bearing account with single asset exposure.

Read all the details 👉 THORFi Economic Design.

Advanced TERRA X THORChain DeFi Strategies:

  • At the moment our BUSD pool has the most lucrative yields, with the introduction of TERRA, the attraction of a low gas fee chain and pairing RUNE with the most decentralised stablecoin is a no brainer for #RUNAtics to burn Luna to provide UST.RUNE LP.
  • RUNE pools are balanced by arbitrage. If the UST and LUNA pool become significantly deep then it will not only help maintain the UST peg especially with cross-chain stablecoin swap.
  • This will also add a 3rd dynamic arbitrage to bLUNA-LUNA and LUNA in general.
THOR Kwon deems thy worthy ⚒️

Cross-Chain Swaps with UST/ LUNA on THORSwap

On THORSwap, you can swap UST/ LUNA directly to native BTC, native ETH, native BNB, native DOGE native BCH, native LTC, stablecoins (USDC, USDT, BUSD) and many other ERC-20 and Binance Chain assets.

Swaps between native assets can be completed in one step, and does NOT require any bridging, wrapping or pegging.

Swap UST/ LUNA for BTC, ETH, BNB, DOGE, stables.

How to trade UST/ LUNA on THORSwap:

Step 1. Firstly, you will need to connect TERRA Station, and set a non-custodial “Keystore wallet” Follow the video tutorial below to complete this step. Alternatively, you can use multi-chain supported wallet options such as XDEFI:

Once you have your wallets set up securely, you are ready to start swapping!

Step 2. Visit https://app.thorswap.finance/swap/UST.UST_BTC.BTC or https://app.thorswap.finance/swap/LUNA.LUNA_BTC.BTC
Step 3. Select the asset you want to exchange for UST/ LUNA
Step 4. Select the quantity you want to swap
Step 5. Check the swap rate, slip and fees. Then click “Swap” to confirm!

NOTE: the transaction will be initiated immediately upon clicking “Swap.” Confirm your details before clicking.

Congratulations LUNAtic, welcome to DeFi Valhalla!

Earning Yield on $UST/ $LUNA

You can earn healthy yields on UST/ LUNA by depositing liquidity on THORChain. Yields are generated from the trading fees paid by traders and reward emissions.

How to earn UST/ LUNA yield on THORSwap

Step 1. Make sure you have already connected to THORSwap using TERRA Station, Key Store wallet or multi-chain supported wallets
(See Step 1 in “How to trade UST/ LUNA on THORSwap”).

Step 2. Visit https://app.thorswap.finance/add/TERRA.UST or https://app.thorswap.finance/add/TERRA.LUNA

Step 3. Select how you would like to deposit UST/ LUNA. You have 3 options to choose from:

  • Deposit only UST/ LUNA (aka “asymmetrical UST/ LUNA deposit”)
  • Deposit both UST/ LUNA and RUNE (aka “symmetrical UST/ LUNA & RUNE deposit”)
  • Deposit only RUNE (aka “asymmetrical RUNE deposit”)

NOTE: deposit transaction fees for “symmetrical deposits” are typically lower than “asymmetrical deposits”.

Symmetrical deposits also requires $RUNE in your wallet to pay for the deposit transaction fee. Asymmetrical deposits will automatically take the deposit transaction fee from your $UST/ LUNA.

Step 4. Select the quantity you wish to deposit. If you are performing a “symmetrical deposit,” then you will need to select quantities for both UST/ LUNA and RUNE. Or you can simply drag the slider which will automatically calculate equal amounts of UST/ LUNA and RUNE:

Step 5. Add Liquidity!

You are now earning UST/ LUNA Yields on your deposits!

Tracking LP Positions and Transactions

THORSwap provides links to each chain’s native blockchain explorer to assess the progress of each transaction. You can also use our dedicated tool THORYield.com to monitor your Transactions, LP positions and Rewards, watch this dedicated video to learn more:

Permissionless Trading and DeFi Yields are just the beginning.

THORFi and many other DeFi services will bring more utility and value to TERRA. We envision a near future where UST will become the top stablecoin on THORChain, leading to huge depth and demand.

Through THORChain, TERRA shall become “The leading stablecoin of all chains”.

To celebrate this landmark moment in DeFi history we’ve created an exclusive Limited Edition (100 only) TERRA Luna X THORChain merch. Collectors will also be airdropped an NFT of the artwork, please see this announcement for more info.

For all questions, please visit the THORSwap Docs or ask for support on our Discord.

To learn more about THORChain’s technology, please visit the official docs.

About THORSwap

THORSwap is the leading decentralized exchange (DEX) powered by multi-chain THORChain. Perform cross-chain swaps in a permissionless, trustless, and non-custodial manner.

Twitter: https://twitter.com/thorswap
Discord: https://discord.gg/thorswap
Website: https://thorswap.finance
THORSwap App
: https://app.thorswap.finance
THORYield LP Tracking App: https://thoryield.com
THORSwap Docs: https://docs.thorswap.finance
Telegram Announcement:
Community YouTube: https://www.youtube.com/THORSwapCommunity


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