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UST Staking on Coinmetro! TerraUSD added to XCM Multi-Asset Rewards

01.04.2022

Hold onto your seats, Coinmetroids! We are thrilled to announce that UST is joining our Staking Program AND our XCM Multi-Asset Rewards solution!

That’s right. This makes Coinmetro one of the only places in the world to offer rewards to users who stake UST. On top of the standalone UST staking interest, you also have the opportunity to earn additional UST when staking XCM, our platform’s native utility token.

Read on to get more insight into UST as well as how you can earn more passive income!

 

What is UST?

TerraUSD (UST) is a decentralized stablecoin created by Terraform Labs that runs natively on the Terra blockchain. 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, unlike its competitors.

UST works hand in hand with LUNA (also available on the Coinmetro platform) 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. See this article for more details.

More on UST can be found here!

How to Get Started with UST Staking?

With at least 50 UST in your Coinmetro account, you can start earning a passive income by staking your UST. UST may be bought and sold on the Coinmetro exchange, or deposited to your account.

You can stake your UST in the Flexible or 1 Year Plans.

Flexible Plan

Staking in the Flexible Plan means you can come and go as you please with no penalty. For example, if you stake your UST on one day, you can remove it the very next day, week, or month and you will earn 8% APR.

1 Year Plan

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.

UST Staking Rewards

 

The staking platform can be accessed from the navigation menu, under Earn > UST Staking. You can also click here.

The UST Dashboard offers a simple overview of the rewards generated from UST Staking on Coinmetro, the amount of UST locked in the network, and the current value of UST.

Staking Plan Interface

Your personal staking program details can be found in the My UST Staking Plans section. Your active staking plans as well as any closed plans will be listed here.

Pending Rewards

These update daily. By clicking “Cash Out Now“, the pending rewards (Total available) are moved from pending to Paid rewards and are deposited to your account balance with a matching entry in your Dashboard transaction history.

Time to Set Up a Staking Plan!

To get staking, click “New Plan“. You can run as many plans as you wish.

There are is no cost in starting a staking plan.

Customize UST Staking plan

The New Plan interface is the setup for your staking plan, and you can configure the amount and duration. The minimum amount of UST to start a plan is 50, and the duration options are either Flexible or 1 Year.

The summary will update as you select your configuration.

Once you’re ready to start your staking plan, just click “Confirm” – and it’s done!

One of the advantages of staking your UST on Coinmetro with the Flexible Plan is you can un-stake at any time without any penalty.

 

UST Added to the XCM Multi-Asset Rewards Program

As you may or may not know, we launched our MARs Program last month.  KDA was the first asset added to the MARs. By staking your XCM on our platform, MARs gives you incremental rewards paid out in KDA.

This was just the beginning!

In addition to UST Staking, we have added UST to the MARs Program! Now in addition to KDA, you will also receive UST rewards.

Tell Your Friends!

The Bonus rewards in UST may appear marginal at first, however, as more UST is staked on Coinmetro, there will be more and more UST rewards available to be distributed.

For example:

If there is 100,000 UST staked on Coinmetro, there will be 1,050 UST (approximate) which would be distributed proportionally to those staking XCM.

As the quantity of rewards available is directly driven by the success and adoption of the UST staking program, it means if there is 100x the amount of UST staked on Coinmetro, there would be 100x more rewards for those staking XCM! 🚀

Earn Passive Income with Coinmetro!

Coinmetro strives to offer an inclusive and accessible exchange designed to make everyone successful. More staking programs to come for other assets, and much more. Stay up to date with Coinmetro by joining our Telegram community, or Twitter or head to the exchange.