Anchor Protocol is a savings protocol on the Terra blockchain that enables fast withdrawals and pays depositors a low-volatility interest rate, which is amongst the highest among stablecoins. The Anchor Token (ANC) is Anchor Protocol’s governance token and is designed to capture a portion of Anchor’s yield .
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- What is Anchor Protocol?
- Who is the team behind Anchor Protocol?
- How was Anchor Protocol launched?
- How to stake ANC?
- How much can I earn staking ANC?
Anchor is a savings protocol offering low-volatile yields on Terra stablecoin deposits. The Anchor rate is powered by a diversified stream of staking rewards from major proof-of-stake blockchains, and therefore can be expected to be much more stable than money market interest rates. The team believe that a stable, reliable source of yield in Anchor has the opportunity to become the reference interest rate in crypto.
The team launching Anchor Protocol is the team behind Terraform Labs, lead by Do Kwon.
Anchor Protocol raised 20 Million USD from notable VCs including arringtonXRPcap, Accomplices, hashed_official, GalaxyDigital, PanteraCapital, Delphi_Digital, naval, defialliance, dragonfly_cap, jumptrading, AlamedaResearch, IDEOVC and RockawayBlock.
Presale investors bought ANC tokens at $0.10 per token, 6 mth cliff + 12 mth vesting thereafter.
They also listed ANC on Terraswap, Station, and the Anchor web app against UST at $0.05 per token.
ANC can be staked in the governance module of the Anchor Web App. This is a single click transaction that can be facilitated via the Terra Station Browser Extension.
ANC Stakers receive a portion of the protocol generated fees. E.g. when the protocol earns 25% yield on their supplied capital, and it pays 20% yield to UST depositors, then the remaining yield is being split between a reserve pool ANC Stakers.
The protocol is designed to be in the surplus, and thus ANC Stakers are expected to earn an attractive return that scales linearly with the TVL in the network.
Please consider, that ANC Staking Rewards might go down if more people participate.