Step by step guide how to stake ORION-UST and ORION to earn more $ORIONs
As ORION now is available on Terra blockchain — of course, we’re bringing ORION-UST and ORION token staking to Terra too.
Also to be safe — this is the only ORION token Terra contract address: terra1mddcdx0ujx89f38gu7zspk2r2ffdl5enyz2u03
Our friends at Yield Labs created a very detailed and easy-to-follow video tutorial about how to stake ORION-UST on Terra.
You can watch the video tutorial here or check the step-by-step guide below:
Step by step guide how to stake ORION-UST
If you purchased Orion tokens on Ethereum or BSC — you can bridge ORION to Terra — please see this guide about how to do it: https://orion-money.medium.com/how-to-bridge-orion-tokens-to-terra-from-ethereum-and-bsc-b98a835b92dd
How to Stake ORION-UST and ORION on Terra
- Go to Terra Staking screen directly via https://app.orion.money/staking/ or go to Orion.money website and click Launch dApp
2. Choose Terra as Network and choose your Terra wallet depending if you are on a laptop or mobile
You will see 2 types of staking:
- $ORION/UST LP staking
- $ORION single token staking (coming soon)
Please mind that $ORION/UST LP always will have a higher APR as in addition to ORION staking rewards you will be getting trading fees from Terraswap, and soon Astroport!
The rewards and trading fees should cover any downsides but please make sure you understand the impermanent loss on Terraswap too.
3. How to Stake ORION/UST
- Click the Stake button, choose the amount of ORION and corresponding UST to bind, and click Add button. Confirm transaction in your Terra station extension.
Once your LP is added, you move to the Stake step where LP will be auto-populated and you will just need to press Stake and confirm in Terra Station.
You’re done and start earning both $ORION staking rewards and Terraswap trading fees! You can claim your rewards in $ORION anytime and you can unstake and withdraw your $ORION/UST LP anytime too. 🎉🎉🎉
4. How to Stake ORION single asset token
The process of staking $ORION is very similar but even simpler as there will be only one step — Stake — and then you start earning staking rewards in ORION tokens.
Please mind that while ORION-UST Staking can be done any time, ORION Unstaking takes 7 days to complete.
We hope now you’re staking your $ORIONs and earning great rewards! 🎉🎉🎉
About Orion Money
Orion Money’s vision is to become a cross-chain stablecoin bank providing seamless and frictionless stablecoin saving, lending, and spending. Within the Orion Money stablecoin bank, we have three main products planned — Orion Saver, Orion Yield and Insurance, and Orion Pay. Orion Money uniquely brings high yields from Terra to users on Ethereum protocol in easy-to-use dApps.