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Anchor is a savings protocol offering low-volatility yields on stable Terra deposits. The Anchor rate is based on a diversified stream of staking rewards from leading proof-of-stake blockchains. With these features, Anchor aims to provide a more stable savings platform compared to traditional money market interest rates.
What is Anchor Protocol (ANC)?
There are five types of participants within the Anchor ecosystem: depositors (lenders), borrowers, liquidators, ANC liquidity providers, and Oracle feeders.
- Depositor (lender): Lends stable Terra currencies to the Anchor money market, which are pooled and loaned to borrowers. The accrued interest is proportionally distributed to all depositors.
- Borrower: Institutions that create bAsset-collateralized borrowing positions to borrow stable Terra currencies from the Anchor money market. By borrowing, users can access liquidity without exposure to the price of bAsset collateral. Anchor Protocol distributes Anchor Tokens as incentives for borrowers.
- Liquidators: Monitor risky loans and initiate collateral liquidation if necessary. Collateral is closed out by placing bids within the Settlement Contract.
- ANC Liquidity Provider: Organizations providing liquidity to the Terraswap ANC-UST pair. They manage the initial launch of swap liquidity between ANC and UST tokens.
- Oracle Feeder: A Terra account responsible for providing accurate, up-to-date price feeds for bAsset collateral, serving as the foundation for necessary infrastructure.
The Anchor token is the governance token for Anchor Protocol. ANC tokens can be staked to create new governance polls. ANC is designed to capture part of Anchor’s performance and allows its value to scale linearly with Anchor’s assets under management (AUM).
Where to Buy ANC Coin?
ANC Coin can be bought and sold securely on Binance, the world’s largest cryptocurrency exchange by trading volume. ANC Coin is traded on Binance in the ANC/BTC, ANC/USDT, and ANC/BUSD pairs.
To buy ANC, one must first register on the Binance exchange. After completing the registration, users must transfer either cryptocurrency or fiat currency to their Binance account wallet. Once the transfer is complete, ANC Coin can be purchased from any of the three pairs mentioned above. For buying through the ANC/USDT trading pair, navigate to its interface, enter the desired amount in the limit tab, and finalize the purchase by placing an ANC Buy order.
