Lido is a revolutionary technology that has come to change the crypto ecosystem with its liquid staked Ethereum token stETH. stETH defies the limits of traditional Eth2 staking by being liquid, movable and exchangeable.

stETH has found utility in diverse ways but one way in which stETH has become so useful is in Anchor as bETH, against which users can take a loan. This dashboard shows briefly, how to get stETH into Terra's Anchor as bETH.

1. Getting stETH

Let's acquire some stETH to begin with. This can be achieved by staking native ETH on lido.fi which mints stETH.

2. Getting bETH

With stETH on our hands, we can mint bETH directly to Terra by burning on anchor.lido.fi. However, for the sake of crazy gas costs, we can choose to rather swap some UST on Terra for bETH.

3. Depositing bETH

Now that we have some bETH on our hands, we can deposit to anchor as collateral, against which we can borrow UST.

4. Conclusion

These sample transactions show how to get access to stETH, which can be converted to bETH, and provided as collateral in Anchor for a UST loan.