How to deposit PUSDT into your Telos account
The upcoming Zeptagram token sale will be done using pUSDT. While this is a good option for both the project and the investor in times of high crypto price volatility, getting pUSDT into your Telos wallet can prove quite challenging. In this post we cover the step by step process of getting pUSDT into a Telos wallet.
Small quantities on pUSDT
The best option for small quantities on pUSDT is to head over to T-Swaps (https://www.tswaps.com) and perform the trade there. The conversion will require first swapping your token to TLOSD then swapping TLOSD to pUSDT. While this process involves two steps it is still significantly simpler than moving USDT from an exchange to your Telos wallet.
Larger quantities of pUSDT
T-Swaps does not hold the liquidity to handle large USDT transactions. In these circumstances the user will have to move USDT from an exchange (or Ethereum account) to Telos.
Before you start, you will need the following;
- An Ethereum wallet to handle the withdrawal from the Exchange and then the peg in to Telos. There are numerous Ethereum wallets available. One of the most common is Metamask (https://metamask.io). This post describes the process using Metamask.
- A Telos account to receive your pUSDT. Learn how to create a Telos account here if you have not previously created one — Telos Network onboarding process — https://telos.net/create-account
Step 1 — Withdraw USDT to your Ethereum wallet
From your exchange account head over to “withdraw USDT” and select to withdraw USDT to Ethereum ERC-20.
- Copy your wallet address from your Ethereum wallet and specify that as your withdrawal address.
- Enter the amount of USDT you would like to withdraw and process the withdrawal.
- Wait for the exchange to process your withdrawal and the USDT to appear in your Ethereum wallet. This process may take several minutes depending on how frequently your exchange processes withdrawal requests.
Note : The internet contains numerous tutorials on how to use Ethereum wallets. These details are beyond the scope of this post and are not covered here.
Step 2 — Move the USDT from Ethereum to Telos
USDT is available as (pUSDT) a wrapped token on Telos. Tokens are moved from Ethereum to Telos using the pNetwork Ethereum / Telos token bridge as follows;
- Navigate to the USDT (Ethereum) <> pUSDT (Telos) bridge using the following link — https://dapp.ptokens.io/swap?asset=usdt&from=eth&to=telos
- Connect your Ethereum wallet.
- Enter the amount of USDT you want to transfer and your Telos account name.
- Press the “Swap” button and accept the transaction signing requests presented to you. There will be two signing requests, (1) an approve request (2) followed by the peg in contract action request. It is now simply a matter of waiting for your pUSDT to appear in your Telos account.
If you have any difficulties with the above process please ask in the following public Telegram channels;
T-Starter Telegram channel : https://t.me/tstarterio
pTokens Telegram channel : https://t.me/pNetworkDefi
NB Do not accept help from anybody claiming to represent T-Starter or pTokens who direct messages you. Scammers frequent support channels and often approach people looking for help through direct messages claiming to represent a project. Projects should be able to provide the support you require in their public channel.