
Anchor Protocol ANCPrice $ 0.00663
Rank: 1465
ANC Price
Anchor Protocol (ANC) Chart
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What is Anchor Protocol (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. We believe that a stable, reliable source of yield in Anchor has the opportunity to become the reference interest rate in crypto.
The Anchor protocol defines a money market between a lender, looking to earn stable yields on their stablecoins, and a borrower, looking to borrow stablecoins on stakeable assets. To borrow stablecoins, the borrower locks up Bonded Assets (bAssets) as collateral, and borrows stablecoins below the protocol-defined LTV ratio. The diversified stream of staking rewards accruing to the global pool of collateral then gets converted to stablecoin, and then conferred to the lender in the form of a stable yield.
Deposited stablecoins are represented by Anchor Terra (aTerra). aTerra tokens are redeemable for the initial deposit along with accrued interest, allowing interest collection to be done just by holding on to them. Anchor is structured to provide depositors with:
- High, stable deposit yields powered by rewards of bAsset collaterals
- Instant withdrawals through pooled lending of stablecoin deposits
- Principal protection via liquidation of loans in risk of undercollateralization
Anchor Protocol Price Today
Anchor Protocol's current price is $ 0.00663, it has increased +8.91% over the past 24 hours.
Anchor Protocol's All Time High (ATH) of $ 8.08 was reached on 19 Mar 2021, and is currently -99.9% down.
The current circulating supply of Anchor Protocol is 350.39 Million coins, and the maximum supply of Anchor Protocol is 1.00 Billion.
Anchor Protocol’s 24 hour trading volume is $ 59.04 Thousands.
Anchor Protocol (ANC) operates on its own blockchain.
Anchor Protocol's current share of the entire cryptocurrency market is 0.00%, with a market capitalization of $ 2.32 Million.
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