What happens to remaining collateral on Anchor?

General
1

I need $22,000 UST to withdraw my bETH collateral but I have no way of obtaining more UST. What are my options if I want to withdraw?

1 Like
2

Its been a problem as CEX withdrawals and Wormhole have been down…However, the following works…

If you have a cosmos chain address and CEX account (Eg Kucoin) you can do following:

-Purchase ATOM on Cex
-Withdraw ATOM to cosmos chain
-Send ATOM on Osmosis using IBC
-Convert ATOM to UST
-Send UST to Terra chain address

IBC has been intermittent today – I had to try several times today to effect transfer, however eventually it worked.

good luck…

3

Were you able to execute this?

4

earlier today, yes. However at present Terra chain is halted.

5

Were you able to successfully repay the loan and get bETH after the above steps?

6

If the DeFi platform you’re using allows borrowing, you might be able to borrow the required amount of UST against your collateralized bETH. This would allow you to access the funds you need without selling your bETH.