Explore the Terra Ecosystem

Steakwallet allows you to dive deep into the world of Terra...

Last updated on March 1, 2022

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Steakwallet allows you to dive deep into the world of Terra. The Terra Explore center is your window into the Terra ecosystem – it's the place where you can come to learn more about staking assets on the Terra network, interact with your favorite dApps, explore new opportunities, and check in on the latest, as we showcase the hottest projects and alternative opportunities across the Terra network.

 

Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. Built on the Cosmos SDK, Terra aims to be "programmable money for the internet" with its native stablecoin UST and the LUNA governance token. As a "Layer 1" blockchain, the team behind Terra has struck up multiple partnerships to integrate blockchain functionality in every-day payment solutions.

 

Terra automatically adjusts stablecoin supply based on its demand to keep the one-to-one peg. By incentivizing LUNA holders to swap LUNA and stablecoins at profitable exchange rates, the protocol can either expand or contract the stablecoin supply to match demand. LUNA holders are also able to submit and vote on governance proposals, giving it the functionality of a governance token.

 

FAQs

How do you send Terra tokens into Steakwallet?

Steakwallet supports the management of Terra tokens. To send assets into your Steakwallet, navigate to the home screen and click on the asset you want to send. Once you select the token and are taken to that token screen, click Receive to access your wallet address. Next, select Copy address, or alternatively use the QR code to scan your wallet address, and send your tokens over from an exchange, another wallet, or wherever they are held. Congratulations, you're now using the best mobile wallet to manage your tokens! 🤝

How do you send Terra tokens out of Steakwallet?

If you need to send assets out of Steakwallet, navigate to that token screen and click on Send. Input the amount you would like to send (you can view the amount either in the native asset or in your preferred fiat currency) and select Next. If the transfer is subject to fees, note the network fee and total balance of the transaction. Next, input the Recipient address.

Please make sure that you are sending the funds to the correct wallet address. If you mistakingly send your funds to the wrong address or to a different network, you may lose all amounts sent.

Input a Memo if need be or you so desire, and then click Next. You'll be taken to a final confirmation screen and presented with an overview of the transaction. If all of the information looks correct, hit Send. That's it!

How do you stake LUNA?

On the particular token screen of the asset which you want to stake, scroll down slightly to the Currently earning section and click on the Native staking card that gives an overview of the staking semantics (current APR, projected 5-day ROI, and any amount currently staked). Once you click on the card, you will be taken to the hub for staking that token. Click on Stake, read through and familiarize yourself with the basics on staking that token, and hit Let's go. Use the slide bar to select how much of your balance you would like to stake (alternatively, you can hit the percentage buttons to automatically select 25%50%, or Max of your funds). Take a look at the estimated annual return on that amount and any network fees associated with the transaction, and click Next. You'll be taken to a final confirmation screen and presented with an overview of the transaction. If all of the information looks correct, hit Confirm Stake and voilà!

 

For more information on staking, check out our step-by-step staking guides below.

How do you claim LUNA staking rewards?

You must manually claim staking rewards on Terra. On a given token staking screen, you will see a pink box that shows you how many rewards you have currently earned. Next to this information, click on Claim, view and approve the network transaction fee, and click Claim again. That's it! In two clicks, you have claimed your staking rewards.

To maximize your rewards, re-stake your rewards once you claim them. You can learn more about manual reward claiming here.

Please remember to keep enough funds inside your wallet to cover the costs of transaction fees for claiming and re-staking rewards. You can learn more about transaction fees here.

How do you unstake LUNA?

If you'd like to unstake your assets, navigate to the given token staking screen and select Unstake and then Let's go. Please note that when you unstake your assets, you will be subject to an unbonding period in which you will not be able to use your tokens. Use the slide bar to select how much of your balance you would like to unstake (alternatively, you can hit the percentage buttons to automatically select 25%50%, or Max of your funds). Take a look at the associated network fee and click Next. You'll be taken to a final confirmation screen and presented with an overview of the transaction. If all of the information looks correct, hit Confirm Unstake and your funds will begin to unbond.

 

Staking Guides

 

Check out what’s new in the world of Cosmos on Steakwallet

 

Support

If you have need support or have questions for us, you can reach out to support@steakwallet.fi or join our Discord (and send a shout in our #support channel) to immediately connect with team members.

 

 
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