However, Anchor’s total value locked (TVL), has also increased a lot over that period. Anchor Protocol is currently second in defi lending platform TVL. Anchor’s TVL has increased 40.13 strong>
In 30 days, Anchor TVL grew more than 40%. Protocol TVL is a close second.
The Terra-based token anchor protocols (ANC) has seen a significant increase in value against the U.S. Dollar over the past month. At the time this article was written, ANC had gained 82.7% in 14 days, while 30-day stats show that ANC has increased 182.4%.
Anchor, a lending protocol that uses the Terra Blockchain network, gathers liquidity from both lenders and borrowers. The stablecoin Terrausd (UST) is a stablecoin that offers a yield of close to 20%.
Anchor employs a liquid-staking method to collect yield. Anchor and Orion Money offer Ethanchor which, in contrast to Anchor’s UST functionality, allows depositors to collect yield on Ethereum-based stablecoins.
According to defillama.com metrics, Anchor is currently the sixth-largest current defi app. The TVL for Anchor has increased by 5.55% in the past week. However, monthly statistics show that the protocol’s TVL rose 40.13% over the same period. The last 30 days saw Anchor’s TVL rise to $11.5 billion.
Anchor now holds the second-largest lending protocol under Aave. As Aave has a TVL currently at $11.6 billion, the lending protocol Aave is only a little higher than Anchor.
Below Anchor refers to lending apps by TVL that include protocols such as Compound ($6.48B), Justlend (1.86B), Venus (1.62B), Banqi (1.11B), and Iron Bank (1.06B).
Anchor metrics show that there are $2.46 billion in borrowers’ debts today. People with debt must use bonded LUNA and bonded to secure their assets. Anchor documentation states that three audits were conducted on the protocol for defi lending.
One audit was published by Cryptonics and reviews Anchor’s smart contract distribution. Another audit is done by Cryptonics and examines Anchor’s smart contract distribution. The Solidified team also published an Anchor audit Report last July.
