Quick Tutorial On Kash Dex — wUST to UST //USDC to UST // Earn 16% On USDC
Hey everyone! It’s KashRon here showing you how to use the newly launched Kash Dex.
Easiest Scenario: Send UST
Step 1: Look for your Terra wallet address on Kash. You can see it in the screenshot here.
From here, a pop up should open up which shows your Kash wallet address. It’s sorta crazy looking, we know. Welcome to the future!
Step 2: Go to your local crypto exchange website and paste this as a “receiving address” in the address book. (Note: Make sure your local crypto exchange can withdraw native UST. Ask them! For example, this does NOT work with Binance.)
Scenario 1: wrapped UST -> UST
Step 1: Send wrapped UST ***AND*** Eth to your Kash Ethereum Wallet Address
Video above. You can find your eth wallet under “investments” and find the Eth wallet address there to copy/use QR code.
Important note : Eth is needed because it’s the “gas” fee to facilitate a transaction on the Ethereum network. Annoying, we know.
Step 2: Convert wrapped UST to Eth!
In this scenario, 0.003 eth is used as the “gas fee” for this transaction. According to Google (https://www.google.com/search?q=0.003+eth+to+usd&rlz=1C1CHBF_enUS980US980&oq=0.003+eth+to+us&aqs=chrome.0.0i512j69i57j0i512.3494j1j7&sourceid=chrome&ie=UTF-8) that’s around $13.
Important note: this price will fluxuate based on how congested the Ethereum ecosystem is! If the price looks too high, come back later (weeknights are typically a good bet).
Important note 2: Congrats, you just learned how to use decentralized finance! Woot :)
Scenario 2: USDC to UST
Step 1: Send USDC ***AND*** Eth to your Kash Ethereum Wallet Address (same as gif from step 1 above)
Step 2: Convert USDC to UST. See gif below.
In this scenario, 0.05 eth is used as the “gas fee” for this transaction. According to Google (https://www.google.com/search?q=.05+eth+to+usd&rlz=1C1CHBF_enUS980US980&oq=.05+eth+t&aqs=chrome.0.0i20i263i512j69i57j0i512l8.1879j1j4&sourceid=chrome&ie=UTF-8) that’s $218. Ouch!
We only recommend this if you’re moving quantities larger than $10,000.
Scenario 3: Did you know…You Can Earn >16% Interest On USDC?
See tutorial gif below!
Pros: That’s a lot!
Cons: You have to pay that big gas fee both when you deposit and withdraw. That’s why we have a minimum $1000 requirement to do this, otherwise gas fees are just way too high.
Alternatively, you can convert USDC to UST. It’s a slightly bigger gas fee initially, but you won’t have to pay it twice and you’ll earn 19% interest.
