Anchor Protocol anc

Anchor Protocol anchor-protocol|c|anc was founded to increase demand for Terra's native stablecoin, UST, by offering a 20% yield to depositors. It also allows traditional finance participants to integrate with DeFi. Borrowers can take UST loans using yield-bearing assets(assets that can be staked) like bonded LUNA (bLUNA) and bonded ETH as collateral. Anchor has an API to integrate fintech platforms, exchanges, and B2B businesses and offer interest-bearing savings accounts. The protocol earns the yield for depositors by keeping the staking rewards of borrowers' collateral and charging interest to them

Anchor Protocol was started by Terraform Labs, otherwise known as TFL, in March 2021. TFL is a South Korean fintech company founded by Daniel Shin and Do Kwon. Terraform Labs is also behind the Terra layer-one blockchain that has taken the DeFi space by storm, rising by 17,000% in 2021. Do Kwon is a Stanford University graduate and also served as CEO of Anyfi, a startup providing decentralized solutions for wireless mesh networks. Kwon is included in the Forbes 30 Under 30 list of the world's most successful entrepreneurs. Terraform Labs is one of the largest and in-demand companies in the cryptocurrency space and has raised more than $150m from significant crypto investors like Arrington XRP Capital, Pantera Capital, Galaxy Digital, and BlockTower Capital

The main reasons to invest in Anchor include: - Stable and consistent ~20% yield(could reduce in the future) on Terra's UST stablecoin attracts non-crypto native users - The yield obtained on proof of stake(POS) assets can be used to open a loan, which is unique to Anchor - Easy integration with fintech platforms, exchanges, and B2B businesses using Anchor's API - Elegant user interface and simple-to-use functionality -ANC is Anchor's token, offering holders governance rights and a percentage of protocol earnings. -Anchor plans to expand support to other Proof-of-Stake (PoS) layer-1s like Solana's native token, SOL