Introduction to the Anchor Protocol (ANC): Is the 19.5% Apy Yield Legit?
At the start of the year, Galaxy Digital, Coinbase (NASDAQ: COIN) Ventures, Pantera Capital and other companies participated in a US$25M (S$33.7 million funding round) for Terraform Labs the company behind the Terra blockchain. The Terra blockchain is best known for its fiat-pegged stablecoins like TerraUSD (UST) which is currently the fifth-largest stablecoin in the world by market cap. In addition, Terraform Labs is behind Chai, a South Korean payment platform with a little over two million active users as well as the Mirror Protocol, a decentralised exchange that allows you to trade synthetic shares in certain publicly traded companies. On 17 March 2021, Terraform Labs launched their newest project, the Anchor decentralised finance (DeFi) protocol; an accessible savings and lending platform built on the Terra blockchain.
The protocol was also well received by investors as Anchor managed to raise a total of US$20 million (S$26.9 million) from an initial coin offering
Read more: https://mcc.exchange/2021/08/29/introduction-to-the-anchor-protocol-anc-is-the-19-5-apy-yield-legit/
Text source: MCC.EXCHANGE
