How to wormhole from Solana to Terra
This is a guide on how you can use a bridge to move tokens from a blockchain to another. Specifically, I will show how I transfer UST from Solana to Terra blockchain, via Wormhole’s Portal Token Bridge.
Step 1. Source blockchain
Connect the source wallet. In this case, I am sending from Solana, and I use Solflare wallet.
Enter the amount to send.
Step 2. Target blockchain
Connect the target blockchain wallet. In this case, I am receiving on Terra, and I use Terrastation.
Note that you need to pay transaction fees when you redeem later (in Step 4). The actual fee for Terra worked out to be 0.035 LUNA (~$2.50 as of Feb 2022).
You will have to pay transaction fees on Terra to redeem your tokens. Est. Fees: 0.05 - 0.09 LUNA
Step 3. Transfer the tokens
This is where you confirm the bridge, and pay on the source blockchain to send over.
I will sign the transaction and confirm on my Ledger. Interestingly, notice there are 29 messages in it. You have to scroll all the 29 messages to confirm.
Step 4. Redeem
Finally, redeem on the other side.
I am using Terrastation wallet. As you can see, there is a 0.035 LUNA transaction fee. If you don’t have any LUNA, then you have to buy from a centralized exchange (Bitfinex supports LUNA) first, then send them to your address.
Bridging with other blockchains is similar, except you use the wallets for the other blockchains, and paying for their gas fees.