Anchor Protocol is a lending and borrowing protocol on the Terra blockchain. ANC is the native utility and governance token of the protocol, allowing users to participate in governance, lend, borrow, and earn interest on their digital assets using an over-collateralized model.
What is Anchor Protocol (ANC)?
Anchor is an algorithmic stablecoin pegged to global economic growth, utilizing a dual-token system.
Offering an alternative to fiat-pegged stablecoins, Anchor aims to remain stable regardless of the strength of any fiat currency, market fluctuations, or economic downturns. By leveraging the sustainable growth trend of the global economy, Anchor provides stable financial solutions for individuals, businesses, organizations, and governments.
The project states, “Our vision is to create a stable platform where any cryptocurrency or traditional currency can anchor their values and become a cornerstone of price stability as a global currency and financial standard. Anchor’s primary mission is to drive global economic stability.”
Anchor is a decentralized savings protocol offering low-volatility yields on Terra stablecoin deposits. Supported by a diversified stream of staking rewards from major Proof-of-Stake blockchains, Anchor is expected to be much more stable than traditional money market interest rates. The Anchor community believes that stable and reliable yield sources on Anchor have the potential to become the benchmark interest rate in crypto.
According to the project, deposited stablecoins are represented by Anchor Terra (aTerra). aTerra tokens accrue interest and can be used for the initial deposit along with the accruing interest, allowing for interest collection by simply holding them. Anchor is structured to provide depositors with:
- High, stable deposit yields backed by rewards from collateral assets
- Instant withdrawals through the pooled credit of stablecoin deposits
- Principal protection via liquidation of loans at risk of under-collateralization
Moreover, Anchor is an open, permissionless savings protocol, meaning any third-party application can connect and earn interest without restrictions. Developers can interact with Anchor using just a few lines of code via Anchor Earn, Anchor.js, or EthAnchor.
How to Buy ANC Coin?
ANC Coin can be quickly and securely purchased through Binance, the world’s largest cryptocurrency trading platform by trading volume.
To buy ANC Coin, you first need to register with Binance and then transfer fiat currency. After sending fiat currency like dollars, you can buy ANC in the BUSD, Bitcoin (BTC), Binance Coin (BNB), or Tether (USDT) trading pairs.
Additionally, on Binance, users can place orders at a lower value than the market price, allowing them to buy at their desired price. To do this, you can use the Limit tab and enter the amount and price you want to purchase.
