| Fully Diluted Valuation | $3.50M |
|---|---|
| 24H Trading Volume | $1 |
| 24H Low / High | $0.00 / $ 0.00 |
| Circulating Supply | 350.39M |
| Total Supply | 1.00B |
| Max Supply | 1.00B |
| Categories | Decentralized Finance (DeFi) 9 more |
|---|---|
| Founder | Daniel Shin |
| Website | anchorprotocol.com |
| Socials | 2 more |
| Chains | Ethereum Ecosystem 1 more |
| Explorer | Arkhamintelligence 3 more |
| Contracts |
0x0f3....9bc20
1 more
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| Name | Pair | OG Score |
|---|
Anchor Protocol (ANC) is a platform on the Terra blockchain that lets users earn stable returns on their stablecoin deposits. It uses rewards from staking various cryptocurrencies to offer consistent and low-risk yields.
How It Works
Anchor connects two groups: lenders and borrowers. Lenders deposit Terra stablecoins and earn interest, which comes from the rewards of collateralized assets. Borrowers provide Bonded Assets (bAssets) as collateral to borrow stablecoins. The interest paid to lenders comes from the rewards collected on these bAssets.
Key Features
Stable Returns: Anchor offers up to 19.5% yield on stablecoin deposits with minimal volatility.
Instant Access: Depositors can withdraw their funds quickly.
Principal Protection: The protocol has safeguards to prevent losses from undercollateralized loans.
Who Can Use It
Anchor is ideal for investors looking for stable returns and low-risk options. Users can either deposit stablecoins to earn interest or use their assets as collateral to borrow additional funds. There is also a higher-risk option to participate in liquidation pools for potential extra returns.
Founders and Background
Anchor was created by Terraform Labs in March 2021. The company was founded by Daniel Shin and Do Kwon, who have extensive experience in tech and e-commerce. Terraform Labs has received significant investment from major crypto investors.
What Makes It Different
Anchor stands out due to its easy-to-use design and its ability to offer stable, high-yield savings. It provides a stable return on deposits and allows borrowers to access funds without giving up control of their assets.
Token and Security
The ANC token is used for governance within the protocol, allowing holders to vote on decisions. There are 1 billion ANC tokens in total, with 222 million currently available. Anchor operates on the Terra blockchain, which is secured by a proof-of-stake system and has passed multiple security audits.
Conclusion
Anchor Protocol (ANC) offers a stable and reliable way to earn interest on stablecoin deposits and provides flexible borrowing options. Its design and stability make it a valuable tool for users in the cryptocurrency world.
Anchor Protocol offers a unique approach by providing stable, high-yield returns on stablecoin deposits through diversified staking rewards, ensuring low volatility compared to traditional money markets.
Anchor Protocol was founded by Daniel Shin and Do Kwon through Terraform Labs, with both founders bringing extensive experience from tech and e-commerce sectors.
Anchor Protocol has received investment from major crypto investors, including Arrington XRP Capital, Pantera Capital, Galaxy Digital, and BlockTower Capital.
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