Convert

bETH is a token representing your staked ETH (stETH) on Terra. Unlike stETH, your bETH balance remains constant with staking rewards to be claimed in the form of UST tokens – a stablecoin issued by the Terra protocol – on Anchor.

To convert stETH to bETH, choose the amount of stETH to convert, input your Terra address and sign the stETH approval/conversion transaction. The corresponding amount of Terra-side bETH will be minted to the specified address after the conversion transaction is confirmed on-chain.

You can use your bETH to earn rewards on Anchor Protocol. A full guide is available here.

To claim your bETH staking rewards:

1. Visit app.anchorprotocol.com/bond/claim.
2. Select bETH from the drop-down list.
3. Connect your wallet.
4. Claim your rewards.

The rewards are claimable on the Terra side regardless of the chain your bETH are on (Ethereum or Terra). This means that even if you transferred your bETH from Terra to Ethereum, the rewards accrued by these tokens should still be claimed on the Terra side.

To transfer bETH from Terra to Ethereum:

1. Go to bridge.terra.money.
2. Select Terra as the target chain.
3. Select Ethereum as the destination chain.
4. Select bETH as the asset.
5. Specify the amount of bETH you want to convert.
6. Specify an external account you control as the destination Ethereum address.
7. Sign the transaction.

To convert Terra bETH back to stETH:

1. Go to bridge.terra.money, select Terra as the target chain, Ethereum as the destination chain, and bETH as the asset. Specify the amount of bETH you want to convert and an externally-owned account you control as the destination Ethereum address. Sign the transaction.

2. After your transaction reaches on-chain finality, the specified amount of Ethereum bETH will be transferred to the specified Ethereum address.

3. Use this interface to convert the received Ethereum bETH to stETH.

bETH doesn't change daily with staking rewards as stETH does. Instead, bETH lets you claim staking rewards in the form of Terra UST. To do that, visit app.anchorprotocol.com/bond/claim and select bETH from the list.

The rewards are claimable on the Terra side regardless of the chain your bETH tokens currently reside in. This means that even if you transferred your bETH from Terra to Ethereum, the rewards accrued by these tokens should still be claimed on the Terra side.

This depends on the protocol so please consult documentation or contact Lido support. When you send your bETH to an external protocol, that protocol becomes the recipient of the staking rewards generated by the tokens. Some protocols may allow you to claim these rewards whilst others won’t.