Thread by @archon_ch

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You want to borrow $UST on your $LUNA on @anchor_protocol to utilize it on @mirror_protocol or leverage and earn $ANC rewards on top?

Here is a step-to-step guide for you 👇

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Let's first clarify what you are going to do: you will delegate your unstaked $LUNA (and lock it for at least 21 days as it will get staked) to receive $bLUNA. You then collateralized $bLUNA to borrow $UST for which you pay interest (borrow APY) but get incentivized in $ANC.

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Step 1: You need to have unstaked $LUNA, if you have it staked, you have to unstake it and wait for 21 days. Obviously you can buy it on several CEXs or via terraswap.io e.g. with $UST. (BTW: In the future this will also work with $SOL & $ATOM).

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Step 2: You go to app.anchorprotocol.com/bond/mint and mint $LUNA to receive $bLUNA. It will be exchanged 1:1. During this step process you also need to select your preferred validator.

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Step 3: You go to app.anchorprotocol.com/borrow and provide $bLUNA as collateral. There is a max LTV of 50% and a suggested "SAFE LTV" of 35%. You can freely choose. Please be careful here as the "%" will define how closely you need to watch your collateralized debt position.

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Step 4: Finished. You now have your borrowed $UST available to work with and earn $ANC on top. You have several options now:

- Earn on @anchor_protocol with 20% APY
- Buy $mAssets or act as LP on @mirror_protocol
- Buy more $LUNA and repeat for leverage and more $ANC