Staking MIR ERC20 tokens

I am not very tech savvy. I have MIR in my Metamask. Trying to follow the instructions on staking doesn’t seem to work. I may need some UST to do the transactions, but I need to know how much I need. When I try to send, I have no idea what address is needed to send. In my mind, I need to receive the tokens that I am trying to send from Metamask. It says invalid address. What is the valid address? Where am I to send them.
Help Please

you need to

  • create a new terra station wallet (using terra station web browser - Terra Station - Chrome Web Store)
    • when you create a new wallet, you will get a new terra wallet address (starts with terra*)
  • go to Meth or to https://bridge.terra.money/, connect your metamask wallet and send it from there to your terra address
    • you will need to confirm the transaction using metamask - so you need a bit of ETH in your metamask wallet
  • once you send it to your terra wallet - go to terra.mirror.finance/gov and connect with your terra station web wallet there
  • to stake or perform any transaction on terra you will need to have a bit of UST in your terra wallet
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Can I trade MIR or ETH for UST in Metamask & then send it. Again, how much UST will I need $50, $100. Very limited funds here.

you can swap ETH or MIR to some UST on ethereum network using metamask and uniswap, and then send this UST over to terra using https://bridge.terra.money/
it does not require much UST to stake, around 0.1 UST per transaction currently

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Also, when I have tried to send from Metamask on mETH, what address do I send to. When I put in my Terra address, it says invalid. I noticed your name also on discord & I don’t know how to reply to you or request you to be a friend.

thank you so much. you are really being a friend, helping others. I will try the bridge.

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Sorry to be a bother, but can you explain step by step what I am doing on bridge.terra.money. I see the terra to ethereum. What does that mean.

Is there reading material that explains procedure on how to navigate the system, and definitions?

When I hit connect wallet in bridge, it connected to my terra wallet.

i don’t use discord much, but feel free to ask questions here or in telegram mirror group, or personally @alagiz in telegram, I am happy to help

so, there are 2 blockchains - ethereum and terra. (and BSC blockchain, but ignore it for now)
terra blockchain is native to MIR, LUNA and UST.
there are wrapped versions of MIR, LUNA and UST on ethereum blockchain (and some on BSC).
https://bridge.terra.money/ allows you to transfer MIR, LUNA, UST and mAssets between those blockchains.
what seems to be your goal is:

  1. transfer MIR and UST from ethereum blockchain to terra blockchain
  2. stake MIR on terra blockchain

to achieve 1. https://bridge.terra.money/ could help
when you go there, choose from ethereum blockchain to terra blockchain
when you do that - bridge will ask you to connect your wallet - that’s where you connect you metamask
then you can specify your terra address as destination
and then send it over
i added a screenshot below (but specify your own terra address of course)

that allows you to send MIR and UST to terra blockchain.

to achieve 2.
after you receive your MIR and UST on terra blockchain - you can stake MIR here => terra.mirror.finance/gov
for that you will need to connect with your terra station web wallet, specify how much you want to stake and pay a small fee of ~0.1 UST

fees you will have to pay when performing step 1 are to ethereum blockchain, which are quite high recently.
there are other (potentially cheaper) ways to do that, for example withdraw from kucoin directly to terra blockchain or transfer only UST from ethereum to terra, and then use terraswap.io to swap it to MIR partially.
let me know if you want to learn more about those.

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I was following your advise. I did the transaction. It said transaction couldn’t be processed because I don’t hold any native tokens. You didn’t tell me that I needed LUNA. What happened? Did I loose my MIR?
Troubled

hm, which transaction did you make?
you don’t need LUNA to perform any of those steps, although you can use LUNA to pay fees on terra blockchain also, along with UST.
could you share what you did exactly, step by step?

On bridge.terra.money I changed to ethereum, connected metamask & put in terra address. Sent max MIR. Confirmed with metamask. When I looked at wallet, it said it couldn’t receive transaction because there was no native token in my wallet.
What can I do to retrieve it? When i look up the address on etherscan there is no received address, it says 0x00000…
I can’t afford to loose these MIR tokens. Where are they now?

ah, alright, thanks for detailing it out.
when you send MIR from eth to terra - they are burned on eth network and created on terra network.
so, theoretically, those MIR tokens should be in the terra address you specified.
you can check it by typing in your terra address here Terra Finder
in the tokens section you should see your MIR.
if they are there - time for step 2 - staking.

Alagiz,
Ok, in Available: this acct doesn’t hold any coins yet
In Tokens: my MIR are there.

Now, I tried to buy about 20 UST on UNISWAP & it wanted to charge me about $86 to buy $20 worth of UST.
Where else can I buy UST. I have a Kucoin acct. Please step by step what to do next.
Thank you sooooo much for all your help.
LoveLight

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Great!

No worries, I think we are almost there.
Uniswap fees are insane right now, that’s true, the reason is that uniswap is on ethereum.
You can buy UST on Kucoin and withdraw it to your terra address using terra blockchain.
Last time I did that it charged me 4 UST for that, though.

So, to get UST in your terra wallet:

  • buy UST on Kucoin
    • if you already have funds on Kucoin
      • exchange them to UST (with current fees on terra blockchain ~10UST should be enough for quite some time, if you just want to stake MIR/vote for proposals)
    • if you don’t have funds on Kucoin
      • you can buy USDT with credit card (minimum $30, which should be enough) and then exchange it to UST on Kucoin
    • here are instructions on how to trade on Kucoin: How to Make a Trade on KuCoin – KuCoin Help Center
  • withdraw UST from Kucoin to your terra address. important thing to check here is that you are withdrawing using terra blockchain
    • I added a screenshot:
      • make sure to choose Terra and not ERC20
      • also, of course, make sure to use correct Wallet Address (the terra one you have)
      • memo is not needed when you withdraw to your personal account
      • remark is not needed also

Let me know if it is clear.

to make it simple, I can also just send you a couple of UST, which would be enough to stake MIR and make some simple transactions for a while.
If you prefer that - send me a private message with your terra public wallet address.

ok, thanks for the information. I can’t do it today, too busy, but I have been using Kucoin for a while. I will have to send someUSDT or USDC to Kucoin from my Coinbase account. Thanks for the tip on choosing terra on the withdrawal.
My question is, when I buy the UST, is there any difference in terra & erc20?

My mother died 1/03/21 and my sister-in-law 3/21/21, so I’m dealing with alot of other stuff.
Happy Easter, LoveLight

sorry for your loss, @LoveLight

there is no difference value-wise between UST terra and UST ERC20.
when someone moves 1 UST from ethereum to terra using https://bridge.terra.money/, 1 UST is burned on ethereum blockchain and 1 UST is created on terra blockchain, so that the total supply remains the same.
same happened to your MIR - it was burned on ethereum blockchain (sent to 0x00000…) and same amount was created on terra blockchain.

let me know if you need help with your MIR staking and heppy easter to you too!