Funding Terra and Harmony from Coinbase: HOWTO

HOWTO get liquidity onto @terra_money and then @harmonyprotocol for USA crypto-investors.

Okay, I have a Coinbase account. How do I get my money to Terra, and then to Harmony?

Funding Terra

The simplest way is to buy $MIR, $LUNA, or $UST on @coinbase, then bridge that over to Terra.

There's a problem with that: Ethereum gas fees. One transaction costs $7.77 in $ETH gas fees.

On a good day... actually, that's a really bad day for any other blockchain.

Some people can just throw away money like that to pay for transactions. I'm not 'some people.'

@coinbase does have native tokens (but not for Terra, though, d-mnit), including $ALGO, $SOL, and $ATOM. I'll choose $SOL to transport my money.

So, let's buy some $SOL!

Okay, two things:

1. Reeee! Buying coin during a downturn! What a great way to bleed money during these transactions! 🤢🤮
2. @coinbase is not shy about taking their cut: $7.34 for a $500 purchase. At least they're up-front about it. Other CEX hide their fees.

Okay, $SOL purchased. Let's get it off this CEX as fast as we can, which is good advice for any token on any CEX, folks.

A token on a CEX? They own.

A token in your own wallet? You own.

#PSA #Evergreen 

I send my $SOL to @phantom for basically nothing: 0.00005 $SOL. 

Check the @phantom wallet. 

Yup, my $SOL is there, lightning fast. 

Now we go to a Solana DEX. I choose @MercurialFi. Swap to $UST from your $SOL (leave a bit to pay for transaction fees). Mercurial computes the best swap, mercurially. 😎 

Solana $UST: what does this mean?

Let's transport the $UST to Terra via the Wormhole: https://portalbridge.com/#/transfer ... which, again, this being Solana, costs next to nothing.

Just a tip for you Terrans. When it asks if you want to pay the transaction fee with $LUNA? Of course, choose the alternate: $UST.

Never, ever, never-never-never pay for anything with $LUNA. HODL $LUNA, don't PAY with $LUNA.

#PSA 

Checking our Terra wallet, we have the funds on the Terra blockchain. That was fast! So, for Terrans, we can stop here. YAY! You win! You have $UST on Terra!

Funding Harmony

For those Harmonauts out there, we take this one step further: infuse the Harmony blockchain with liquidity from Terra.

Ready?

Go to @anchor_protocol on the Terra blockchain, 

1. OPEN the dropdown menu, and 
2. SELECT the Terra Bridge.

On the Terra bridge, select:

1. (from) Terra
2. (to) Harmony
3. (currency) UST

Leave some $UST for gas.

Enter your wallet address (or mine, if you want to throw monay at me. D-mn, it feels good to be a gangsta!),

and BOOM! after a few moments, you have $UST in Harmony

You can use $UST in some places in Harmony (those places that accept $UST, hint, hint: @tranquil_fi: wen $UST???), but if you want to translate that to $ONE, the best DEXen for that SWAP is either @DefiKingdoms or @FuzzFinance, I've found. YMMV.

The. End.