Thread by @dopeboyshanee

Okay, so we have $bLUNA, $stLUNA, $LUNAx, $nLUNA, $cLUNA, $yLUNA and $pLUNA

What are all these LUNA derivatives, and how can I use them? 🌖

👇

1/ All of them except $cLUNA, $nLUNA and $pLUNA are STAKING derivatives.

What does that mean??

It means you get staking rewards if you hold them, and each varies slightly by how you receive the rewards.

2/ If you didn't know, $LUNA is currently the only asset with non-inflationary staking rewards(~10%)

After the community pool burn🔥, massive swap fees were generated. Currently, $1.3bn $UST and 32mm LUNA are being paid out over 2 years.

👇
apeboard.finance/dashboard/APE-…

3/ Since it's not inflationary rewards being paid out to stakers, the yield increases when the price of LUNA drops and vice versa... something unique to LUNA.

Here's a table showing min yield at different $luna prices
👇

https://twitter.com/MrRefractor/status/1467171813650276367?s=20&t=cj4zNTC4WT87wiXuozhI3A

4/ Now let's get back to the derivatives!

$bLUNA- It's a LUNA staking derivative from @LidoFinance.

You can buy it from @astroport_fi or @terraswap_io or mint it on Anchor

I prefer swapping cuz of the price variation. You can check it at @coinhall_org coinhall.org/charts/terra/t…

5/ Once you hold $bLUNA, the staking rewards get paid in $UST and are redeemable on Anchor on the bASSET page

You can also use bLUNA to borrow on Anchor or supply LP in the bluna-luna pairs

Note that you won't get most airdrops and the rewards aren't autocompounded.

6/ Either swap on Astro/terraswap or burn $bluna on Anchor to go back to normal LUNA

Note, bluna-luna swaps may have a premium, so you might not get an equivalent amount of luna. You can burn at a 1:1 ratio, but you have to wait for 21 days to withdraw.

7/ You can LP on @astroport_fi and get 9% Apr and use @SpecProtocol to auto compound the LP!

8/ $stLUNA is again from @LidoFinance with the difference of auto-compounding the staking rewards automatically.

They haven't been clear on airdrops, so I assume no airdrops.

You don't have to redeem UST like in bLUNA.

U can LP stluna-luna and stake it on astro for 16% apr!

9/ $LUNAx is a staking derivative from the good folks at @staderlabs.

Here, staking rewards are autocompounded and you'll receive airdrops!

U can LP lunax-luna on Terraswap or @loop_finance and get $SD tokens.

On loop, you get $loop tokens too!

https://twitter.com/staderlabs/status/1496013050893447168?s=20&t=j1weq1opf6JDJ1JCBg3iKw

10/ $nLUNA

On @NexusProtocol, u can provide $bLUNA into the bluna vault and, in return, get $nLUNA which represents your share in the vault.

The vault takes a loan against ur bluna on Anchor and deposits the borrowed UST into Anchor for ~20% APY.

11/ Nexus acts as a liquidation protector, automatically managing your LTV(loan).

Currently provides ~12% apr paid in its native $PSI token. You can swap psi for luna/ust or LP psi into its pools.

12/ $cLUNA, $yLUNA, $pLUNA

On @ProtocolPrism, u can refract/split ur $LUNA or $cLUNA into $pLUNA and $yLUNA 🤯

Lemme break it down 👇

Prism enables you to split LUNA into its principle part ($pLUNA) and yield part ($yLUNA).

10LUNA= 10pluna + 10yluna

13/ The prices of $pluna and $yluna vary based on market demand, and currently, $yluna is more sought out(evident from the price).

Stake yluna to get staking rewards and airdrops.

There's nothing much you can do with $pluna currently, which is why most swap it for more yluna.

14/ Merge pluna and yluna to get $cluna, which basically represents your original LUNA in Prism.

You can also provide LP to its $PRISM pools

15/ The main advantage with staking derivatives is that you get instant liquidity to sell, rather than waiting for the 21 days unstaking period in the normal TeraStation staking.

If ur a beginner, $LunaX wud be the right choice IMO, cuz ur getting all the benefits

16/ Resources
yields- app.alphadefi.fund/farmers-market and terra.smartstake.io/airdrops
price- coinhall.org