NOTICE: UST Withdrawals on Native Terra Network Activated

Cryptocurrency
First published
May 18, 2022
Last updated
May 26, 2022

With the ongoing volatile market conditions regarding TerraUSD (UST), Hodlnaut has implemented certain changes to allow users to withdraw their UST tokens. We would like to apologize for any inconvenience caused. The firm understands the frustrations of its users for not being able to swap UST on the platform and also having limited platforms that receive wormhole UST via the ERC-20 network.

As such, Hodlnaut will now be supporting the native Terra network for withdrawals of UST, enabling users to withdraw their funds to other platforms that support UST. 

Note: The native Terra network for UST will be allowed for withdrawals on the web app ONLY.

How to Withdraw UST via the Terra Network:

  1. Head over to the Deposit/Withdrawal tab, scroll down to the Withdrawal section and select UST.
  2. Next, input the Recipient’s Name, Recipient’s Terrachain Address and Amount.
  3. Do note that the Terra network will automatically be selected. You will then notice a Memo field.
  4. The Memo field is not compulsory. However, there are some exchanges that do require you to include the Memo when depositing to that specific exchange.
  5. If your exchange requires you to include a Memo, ensure that you do so. Otherwise, you may lose your assets.
  6. Once done, click on “Submit”.

Hodlnaut would like to thank its users for the valuable feedback. Do reach out to us if you have further questions at support@hodlnaut.com.

Disclaimer: By using Hodlnaut, users expressly acknowledge and agree to the Terms of Use listed on our website at www.hodlnaut.com. This includes the relevant risk warnings applicable to you as a user of Hodlnaut's services, prior to/when carrying out Digital Payment Token (DPT) transactions. This article is for informational purposes only, and is not an offer nor a solicitation to invest in DPT, securities, funds, partnership interests or other investments or funding or purchasing loans. It is the user's sole responsibility to conduct due diligence and research extensively into each DPT and platform, and understand that the volatility and unpredictability of the price of DPT may result in significant loss over a short period of time. No information on Hodlnaut should be considered to be business, legal, financial or tax advice regarding the use of Hodlnaut. Users should consult their own legal, financial, tax or other professional advisors before using Hodlnaut. Please refer to our website at https://www.hodlnaut.com/tos for the full Terms of Use.

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