Anchor Protocol presents a savings platform that delivers consistent yields on stable Terra deposits, capitalizing on staking rewards from prominent proof-of-stake blockchains. This approach aims to create a more reliable savings vehicle compared to traditional money market options.
What Participants Are Involved in Anchor?
The Anchor ecosystem consists of five distinct roles: lenders, borrowers, liquidators, liquidity providers for ANC, and Oracle feeders. Each participant plays a critical role in maintaining the protocol’s efficiency and functionality.
How Do Users Engage with the Anchor Ecosystem?
Users can participate by lending stable Terra currencies, borrowing against collateralized assets, or providing liquidity. Lenders earn interest from pooled resources, while borrowers gain access to liquidity through bAsset-collateralized loans. Liquidators help in managing loan risks, ensuring the system remains robust.
- Lenders earn interest on pooled stable Terra currencies.
- Borrowers access liquidity without risking their bAsset collateral.
- Liquidators oversee loan risks, initiating collateral liquidation as required.
- Liquidity providers facilitate smooth trading between ANC and UST tokens.
- Oracle feeders maintain accurate pricing for bAsset collateral.
For those looking to purchase ANC tokens, they can do so on Binance, one of the leading cryptocurrency exchanges. Potential buyers must first register and fund their accounts before making trades in various pairs such as ANC/BTC, ANC/USDT, and ANC/BUSD. After funding, placing an order is straightforward, enabling immediate participation in the Anchor Protocol.