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How to Stake UST at Coinmetro

06.04.2022

UST has finally joined Coinmetro’s Staking Program and offers another long-term, secure, easy-to-use, passive income opportunity. This makes Coinmetro one of the world’s only CEXs to offer rewards to UST stakers.

Coinmetro is also rewarding XCM holders with the addition of UST to the XCM Multi-Asset Rewards (MARs) program. Read more about the unique MARs program here.

This guide will tell you how to stake UST at Coinmetro.

 

What is UST?

Founded by Terraform Labs, Terra is a unique open-source public blockchain protocol that is able to deploy a suite of algorithmic stablecoins on its network.

TerraUSD (UST) is a decentralized stablecoin created by Terraform Labs that runs natively on Terra. Coinmetro hosts both the native and ERC20 versions of UST.

Unlike USDT and USDC, UST uses an algorithm to maintain a 1:1 peg to the US Dollar. It has become one of the fastest-growing stablecoins due to Terra’s low transaction fees and its truly decentralized nature.

UST works hand-in-hand with the ecosystem’s other main token, LUNA (also available on our main exchange), in order to maintain its 1:1 peg with USD.

LUNA is a volatile asset that absorbs the demand fluctuations of UST and other algorithmic stablecoins on Terra. When the demand for UST increases and more people want to buy it, LUNA is burned in order to mint new UST. This in turn reduces the LUNA supply, making it a more scarce and valuable asset.

Additionally, Terraform Labs plans to accumulate $10B worth of Bitcoin to add to the project’s stablecoin reserves. The reserves are intended to support and further stabilize UST.

 

How to Stake UST at Coinmetro

Firstly, with at least 50 UST available in your Coinmetro account, you can open a staking plan. If you don’t have any UST, it may be conveniently purchased and sold on our exchange. 

Select Earn, and then UST Staking from the top menu of your Coinmetro Dashboard. This will bring you to the UST Staking platform.

From there, you can open a staking plan by simply selecting Get Started. If you do not have 50 UST available in your account, you will be prompted with a pop-up to buy UST.

You will then need to choose how much UST you would like to stake and pick between the Flexible or 1 Year Plan. Here’s what it means:

  • Staking in the Flexible Plan means you can come and go as you please with no penalty.
  • Staking in the 1 Year Plan means you commit to a year of staking. If you need to remove it for whatever reason, there is a 50% penalty on your total accrued rewards. The penalty will be taken from your principal UST when you close the staking plan and will not impact any accrued rewards.

Once you are ready, simply press Confirm to start staking your UST.

 

How Much Will I Earn?

Staking in the Flexible Plan means you will earn 8% APR.

Staking in the 1 Year Plan means you commit to a year of staking, and you will earn 10% APR.

 

Claiming Your Rewards

The rewards for staking are accumulated live, and you can see them in real-time. By clicking Cash Out Now, the pending rewards are moved to your available wallet balances, with a matching entry in your transaction history.

 

Ending a Staking Plan

You can end your staking plan by simply pressing the Close button.

Staking in the Flexible Plan means you can end your plan as you please with no penalty. Staking in the 1 Year Plan means you commit to a year of staking. As a result, if you need to remove it for whatever reason, there is a 50% penalty on your total accrued rewards. The penalty will be taken from your principal UST when you close the staking plan and will not impact any accrued rewards.

 

UST Added to XCM Multi-Asset Rewards

UST is the second bonus asset added to our unique MARs Program. MARs means extra passive income on top of your existing APR. KDA was the first addition to the program, and we plan to consistently add new assets on a monthly basis. 

 

Ready to Get Started?

Now that you know how to stake UST at Coinmetro, you can log in to your Coinmetro account or sign up and complete your KYC if you’re a new user!