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Cryptoknowmics 2022-03-17 21:00:50

Anchor Protocol: DeFi’s Leading Saving Product

In the past few years, DeFi applications have seen tremendous growth. At the start of the year 2021, the Total value locked (TVL) in DeFi applications was used to be around 18 billion dollars. Currently, TVL in DeFi applications is around 200 billion dollars, which is more than 10x of the TVL of January 2021. Total unique DeFi wallets are 4.3 million right now, more than 4x the unique DeFi wallets of January 2021. Various DeFi applications provide financial services like lending & borrowing, trading, prediction markets, yield farming, etc. Still, there are only a few million DeFi users, and the Anchor protocol of Terra Ecosystem wants to change it. Team of Anchor Protocol believes that a saving product is required for the mass adoption of DeFi applications. Anchor is a saving protocol that offers low-volatile yields on deposits of Terra Stablecoins. The Anchor interest rate is powered by staking rewards from Proof of Stake blockchains, and therefore more stable rates can be expected. Anchor Protocol makes a money market between a lender and a borrower. Lenders can earn stable yields by depositing their Stablecoins while borrowers can borrow stablecoins on their stakeable assets. According to the protocol-defined borrowing ratio, borrowers can lock their bonded assets (bAssets) as collateral and borrow stablecoins. Currently, Bonded Luna (bluna) and Bonded ETH(bETH) are the only two bonded assets that can be put as collateral f...

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Anchor Protocol: DeFi’s Leading Saving Product

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