What is anchor protocol (ANC)?

CoinMarketCap takes a deep dive into Anchor Protocol (ANC), a platform on Terra blockchain that offers low-volatile yields to users who deposit UST — Terra stablecoins. How Does Anchor Protocol (ANC) Work? Anchor Protocol (ANC) is a lending and borrowing protocol on the Terra blockchain and the 29th project on Binance Launchpool.

Is anchor protocol sustainable?

Anchor Protocol pays 19.5% on TerraUSD deposits, but it isn't sustainable. Decentralized finance products don't offer the same consumer protections as traditional banks. Investors need to weigh the risks against the rewards. Anchor Protocol is a decentralized finance (DeFi) protocol that's built on the Terra platform.

What is anchor protocol's governance token?

Anchor Protocol’s governance token is the Anchor Token (ANC). The deposited tokens create governance polls. Those who have staked ANC vote on these. You can buy or sell ANC tokens to become involved in the governance process. The tokens improve reward conditions as well. Finally, ANC–UST pool includes the staked tokens.

How much does anchor Protocol Cost?

Naturally, the thought process of the coin’s success should also include the success of the project. The current price for Anchor Protocol is around $2.83. ANC’s current circulation supply is 264.6 million, and its market cap is $747.8 million. The Anchor Protocol’s price rose by almost 5% over recent days.