Anchor Protocol’s native digital assets ANC, a decentralized finance (defi) platform, increased by more than 180% last month, while Anchor’s locked totals (TVL) also increased significantly. The Anchor Protocol is currently the second largest lending platform in terms of TVL, with Anchor’s TVL increasing by 40.13% last month.
Anchor TVL surges over 40% in 30 days, protocol TVL is comparable to Aave’s lead
The Terra-based Token Anchor Protocol (ANC) rose significantly against the US dollar last month. As of this writing, the 14-day metric shows an 82.7% increase in ANC, and the 30-day statistic shows an 182.4% increase in ANC.
Anchor is a lending protocol built on the Terra blockchain network that collects liquidity from lenders and borrowers. In addition, lenders depositing stablecoin terrausd (UST) collect stable yields close to 20% APY.
To collect the yield, the anchor uses a liquid staking mechanism. Anchor and Orion Money also offer Ethanchor. This allows depositors to collect yields with Ethereum-based stablecoin, as opposed to Anchor’s UST feature.
Currently, Anchor is today the 6th largest decentralized application of all existing decentralized applications, according to defillama.com metrics. Anchor TVL increased 5.55% from last week, but protocol TVL increased 40.13% from last month, according to monthly statistics. Much of Anchor’s TVL increase to $ 11.5 billion has occurred in the last 30 days.
For 124 lending applications, Anchor is currently the second largest decentralized lending protocol under Aave. Aave’s TVL is currently around $ 11.6 billion, so the lending protocol Aave is slightly ahead of Anchor.
Regarding TVL lending of defi apps, under the anchors are Compound ($ 6.48 billion), Justlend ($ 1.86 billion), Venus ($ 1.62 billion), and Banqi ($ 1.11 billion, respectively). ), Iron Bank ($ 1.06 billion) and other protocols.
Anchor Metrics also shows that borrowers are borrowing $ 2.46 billion today and debtors must utilize secured LUNA or secured ETH as collateral. According to the anchor documentation, the defy lending protocol has three audits.
One audit published by Cryptonics examines Anchor’s smart contracts, and another audit by Cryptonics reviews Anchor’s ANC and smart contract distribution. In addition, an anchor audit report was published by the Solidified team last July.
What do you think about Anchor moving the ladder up to the second largest defy lending application today? Please let us know what you think about this subject in the comments section below.
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