In my previous post on Terra Luna, I mentioned about the upcoming new release of Anchor protocol. It was launched last week and I managed to grab some ANC tokens at the opening. This article will be diving deep down into what is Anchor protocol, what is ANC token and why you should look at it.
On a high level, there are 3 participants within the Anchor protocol. One is the savers or depositors. The second is the borrower who wants to take out a loan and the last is ANC shareholders. Those who own ANC tokens own a share of the Anchor protocol and can participate in governance and earn dividends from it.
1. Anchor Savings Account – 20% Interest Rate
Let’s start with the savers. Anchor is paying a fixed interest rate of 20%, principal-guaranteed. You deposit 1,000 USD into Anchor, you earn $200 interest annually....