Setup Terra Station Wallet
You need to create a Terra Station wallet. Easiest is to install Terra Station Chrome Extension wallet. I will provide links to it. You need to setup seed phrase and never share that will anyone. You can also install Terra Station android and IOS app as well for extra safety to confirm your seed phrase is correct before you send funds to it.
Buying Luna from Centralized Exchange
You need to buy Terra (Luna) token from a centralized exchange. I use coinex.com because withdrawal fees are 0.02 Luna and trading fees are very low as well. I will provide a link below to Coinex exchange as well. Withdraw this Luna to the terra station wallet address. Terra Staion wallet address is the top wallet address just like Metamask. Click the copy button and copy the wallet address. Go back to Coinex withdrawal tab and past the address. Since you are withdrawing to private self custordy wallet, you do not need a memo. Click null. Click Submit and enter the 2FA code provided by Authenticator app. Confirm your withdrawal and your funds will arrive in few minutes. If you do not see your funds in a few minutes reflesh the Terra Station app.
Swaping Terra (Luna) Tokens for Xrune and UST
I used the official Terra Swap to swaping Terra (Luna) Tokens to Xrune. Remember you need 2500 Xrune for tier 1 to stake on Thorstarter.org/IDO website. You also follow similar way to swap out Luna tokens for UST. At the shooting of this video, 1 Luna token is around 93 UST or 93 dollars.
Staking Xrune on Thorstarter
Go to Thorstarter.org/IDO website. Click on Tiers. Click Deposite and deposit based on your tiers. I want only to stake at Tier 1 so I need 2500 Xrune tokens. As of shooting this video Xrune is at $0.24. So Tier 1 needs 2500 tokens at current price it is little over $600. In order to deposite Xrune for staking you need to connect your Terra Station app and select terra blockchain. Thorstarter is multi chain IDO platform they support multiple block chains in including Ethereum and Fantom right now. Solona in the future. I hate IDO on Ethereum because I have to pay $150 in fees to deposite funds for staking another $100 to deposite ETH or XRUNE depending on each project requirements. They pay another $100 to claim my tokens after the Token Generation Event (TGE). With this Terra's Luart IDO, you have to deposite UST stable coin. I expect around $100 in UST for Tier1 allocations. As of this shooting this video there is no Terra staking pools opens. I have to come back close to the IDO date of Jan 3, 2022.
After you have staked Tier1 tokens on Thorstarter.org, You have to come closer to the launch date and experess interest on the IDO by signing the transaction. No gas fees are required. Luart team want to know how much interest IDO they have from the staker they have to calculate how much UST you need for each tier. If there are so much interest on this IDO sometimes tier1 users are lottery like they did for Mine Network IDO. On the day of Launch Jan 3rd 2022 you have only 1 hour usually 10 am Easter standard Time to deposit your $100 of UST to be on the IDO. TOkens are released usually 3 days after Jan 3rd. Some project take longer.
IDOs are very risky. Private investors will be dumbing as soon as they get the tokens because public IDO sales. Given IDO is in terra blockchain, gas cost are very low under $1 per trascation compare to hundred dollars per transcation. You can lose your principle as well when Xrune staking tokens drop in price. I bough Xrune right before thorswap at $0.55 and look it dropped to $0.24 right now.
I am not a investement advisers. What i provided here is not investment advice. Do Your own research!
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