anchorBusinesslaunchTerra

DeFi Protocol Anchor Launches on Terra, Token Moons 66X 

Anchor is a DeFi protocol on the Terra blockchain that allows users to borrow or save their stablecoins and Proof-of-Stake assets.
Terra Ecosystem Grows
Terra is a blockchain that focuses on different stablecoins pegged to fiat currencies. The most well-known are its U.S. dollar token (UST) and the Korean won token (KST).
The blockchain allows users to pay for goods and services through its app easily. Terra’s main stablecoin, the UST, has seen rapid growth in usage, bringing it to the fifth spot in terms of market cap, according to data from CoinGecko.
Today, the same team, Terra Labs, has finally launched Anchor, the much-awaited fix interest DeFi savings protocol.
The new Anchor protocol operates as a savings protocol on the Terra network, providing a fixed 20% APY interest rate to UST depositors.
On one side, UST will be accepted on the supply side; the Anchor app will also accept liquid staking derivatives from PoS chains as collateral for loans on the borrower side.
Liquid staking derivatives enable staked tokens in PoS blockchains to be unlocked and deployed on Anchor as collateral. The first collateral on Anchor is bLUNA, a staking derivative of Terra’s native token LUNA. This will be followed by other blockchains like Polkadot (DOT), Solana (SOL), and Cosmos (ATOM), and Ethereum 2.0 (ETH) as collateral on the supply-side. 
According to the team, Anchor is the first inter-chain DeFi application that combines the rewards from PoS blockchains and pays a stable high-yield interest rate to depositors.
The …
Story continues on Crypto Briefing

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