the ust protocol holds are not much actually..

only 4m ust, but the collaboration between olympus and anchor is becoming interesting

  • json replied to this.

    HackerLaddy need more detail about the whitelist…
    what is aTerra, how does this work on Ethereum

    • json replied to this.

      Ran That's just how the protocol sees the deposit but it's redeemable for UST at a later date.

        Coud No, keep it on mainnet for now

        Holding UST without staking it on anchor, is like holding OHM and not staking it.. 19+% APY lets go

        json In other words, you're saying it's low risk, correct?

        • json replied to this.

          json Do you mean that we don't need to bridge the UST to Terra and deposit it Anchor? If not, how is that possible? Can you explain?

          • json replied to this.

            No, my question is, if the proposal passes, those UST will be bridged into Terra then deposit it to Anchor Protocol? If so, what is the aTerra for? Thanks!

            Coud I assume they'll be bridging it or using some form of bridged aUST that they'll swap to on ETH mainnet.

            10 days later

            I support the concept, but the proposal has some basic errors that should be clarified:

            aTerra does not exist. I assume you mean aUST.

            aUST does not exist on Ethereum. The easiest way to access the Anchor rate at the current time is likely via Orion Protocol. The suggested TAP-5 covered this approach for FRAX, and the same principles apply to wUST;

            https://forum.olympusdao.finance/d/163-poll-comment-request-former-tap-5-pilot-deposit-into-orion-saver

            I suggest we have the policy team review and whitelist Orion itself— not just Anchor. Orion injects an additional later of smart contract and liquidity risk, but is the only practical way (that I know of) to access the Anchor rate for wUST (ERC20) tokens which is what we have in the Olympus Treasury.

            Happy to be corrected if there is an alternative approach the OP intends to use to access Anchor from Ethereum.

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