Terraport FAQ

What is Terraport?

Terraport is not a simple DEX but it is also an autonomous DeFi platform that uses smart contracts on Terra Classic blockchain. It is based on a circular economy model and it is capable of infinite self-sustaining. The entire ecosystem is powered by a native deflationary token called $TERRA, which will be used to access various features of the platform.

What is $TERRA?

$TERRA is the Terraport native and deflationary token. Its owners will have access to many feautures on the platform and can participate in its governance.

How can I connect my wallet to Terraport?

You will be able to access directly from your DeFi Wallet (Terra Station or Keplr) without registration or KYC verification. You just have to connect your wallet to the Dapp.

How can I purchase $TERRA?

You can buy $TERRA on a centralized exchange MexC or on Terraport by using a wallet that supports the Terra Classic network such as TerraStation or Kepler.

What is the On/Off Ramp feature on Terraport?

With this function you will be able to purchase $LUNC with your card, ApplePay and GooglePay thanks to an external company with licenses to exchange Crypto/Fiat. As soon as they receive and confirm your payment, you will receive the $LUNCs on the receiving Wallet you entered.

Is it possible to use TrustWallet?

No, but you can import your wallet on Terra Station or Keplr by using your seed phrase (12 secret words). On TrustWallet you can only view your $TERRA balance without interacting with Terraport.

Can I stake multiple times with the same APR?

Yes, it is possible. By doing this you will lock your tokens with the same APR but with a different expiring date. Every time you lock your tokens you subscribe to a new staking for that amount of tokens. E.g. if you do daily compound for a month, at the end of the month you will have 30 stakings running.

What can I stake on Terraport?

At the moment, on Terraport you can only stake $TERRA.

Are transaction fees paid with $TERRA or $LUNC?

Terraport and $TERRA work on the Terra Classic blockchain, so transaction fees must be paid with $LUNC (native network coin).

Why do I pay the fees even if the transaction fails?

As per blockchain mechanism, even if the transaction fails the user will pay the fees to process said transaction. You are paying for the computation, regardless of whether your transaction succeeds or fails. Even if it fails, validators must verify and execute your transaction, which takes computational power. You must pay for that computation, just like you would pay for a successful transaction. Fees are not received by Terraport, so Terraport can not refund them. Fees are paid to validators for finalizing transactions, validating them into blocks, and securing the blockchain.

What is the slippage?

Slippage is the difference between the expected price of an order and the price when the order actually executes. The slippage percentage shows how much the price for a specific asset has moved. Due to the volatility of cryptocurrency, the price of an asset can fluctuate often depending on trade volume and activity.