Anchor Begins Countdown to Launch of Bank-Beating DeFi Savings Account
Anchor, the much-anticipated cryptocurrency savings account from the team at Terraform Labs, appears to be finally nearing a go-live date, based on a countdown clock on its website.
Under the plan announced last summer, Anchor would allow users to hold Terraform’s UST stablecoin, pegged to the U.S. dollar, and earn returns that consistently outpace the annual percentage yield (APY) of savings accounts at U.S. banks.
Anchor represents a significant new decentralized finance application independent of Ethereum (where most of the DeFi action takes place): a basic savings account that should be more than competitive with traditional banks.
Based on its own implementation of the Tendermint consensus mechanism, UST has a market cap of just under $1 billion, making it the fifth-largest stablecoin, according to CoinGecko. The token has spread from its native blockchain to Ethereum and Solana.
Anchor was originally slated for an October launch, but the team pushed that to late November. With the countdown showing on the site now, this could really be it.
Recommended News
-
Whale Shark’s NFT Collectors Playbook
Thinking about buying some non-fungibles? Maybe you’re even thinking about investing? Maybe you still can’t wrap your brain around the idea of digital art being sold for $69 million, but you’re open-minded, you’ve done your homework and you think the rewards outweigh the risks. And maybe this is money you can afford to lose, so what the hell? [Obligatory disclaimer: Nothing that follows is financial advice. Investing in NFTs – or anything in crypto – is packed with risk and you can lose everything. Proceed with caution.] But if you’re trying to get your…
-
The dark horse of decentralized lending is coming, HecoLend has a full analysis!
According to recent data from Coingecko, the total market value of DeFi is US$65,505,319,366, and the total lock-up volume is US$42,446,215,841. However, in this increasingly large DiFi ecosystem, as the underlying financial structure of DeFi, the lending business is usually ignored by many people, but in fact all financial portfolio products, derivatives, etc. are inseparable from the support of lending business. HecoLend, an open source currency market protocol, realizes asset financing based on the Huobi ecological chain technology and the relationship between capital supply and demand. Participants can conduct financial…
-
Crypto Long & Short: Is ETH Coming to Corporate Balance Sheets?
MicroStrategy, Tesla and Square have done it. So have many others, although more quietly. I’m talking about holding corporate treasury reserves in bitcoin (BTC, +1.92%). This trend is attracting attention even from trade press. Consultancies and crypto companies are scrambling to launch services to help businesses navigate the process. “Mad Money” host Jim Cramer thinks it’s “almost irresponsible” for companies to not do so. This week, sponsored content from Deloitteexplaining the benefits and risks appeared in the Wall Street Journal. You’re reading Crypto Long & Short, a newsletter that looks closely at the forces driving cryptocurrency markets. Authored…
-
A Comprehensive Insurance Platform – Blockchain Insurance Global
Our global economy has grown steadily in recent years, and an increase in income levels has driven the growth of consumer demand. Among them, the demand for health protection has seen a significant increase. However, the traditional insurance model is cumbersome, delivering a poor experience for users. A transformation and upgrade of the industry is imperative. In 2020, an insurance platform that relies on blockchain technology, AI and big data started to receive attention from the mass markets. The aptly-named Blockchain Insurance Global (BIG for short) has created a new insurance platform, and has achieved a growth rate of 53% in 2020, reigning as the growth leader of the industry. By empowering the insurance…
-
CoinW’s co-branded world-class fighting champion limited NFTs, are now available on OpenSea.
The Kunlun fight & Chan FC World Fighting Championship Dubai ended perfectly on June 25, 2022. The championship was sponsored by CoinW, the world’s leading cryptocurrency exchange, and brought together internationally famous fighters to provide fight fans with a blood-curdling feast for the senses. After the competition, CoinW and Kunlun fight’s co-branded limited NFTs were officially launched on Opensea, setting off a rush of purchases by users. Collection of world-class fighting moments: According to the official introduction by CoinW, the content of the NFT on sale is a collection of…
-
Bitcoin on the Balance Sheet? Corporate Buying Might Become a Global Trend
Bitcoin and ether (ETH, -0.73%) purchases by companies in Scandinavia and Hong Kong are fueling speculation a wave of non-U.S. corporate treasurers might follow MicroStrategy, Tesla and Square into buying cryptocurrencies, according to a new report by the Norwegian analysis firm Arcane Research. Hong Kong-listed Meitu, a maker of photo-retouching software, said it bought 15,000 ETH and 379 BTC (+3.58%) in open-market transactions last week. Arcane figures the company paid an average $47,230, well below the current market level of around $57,000. In addition, on Monday Aker, a Norwegian energy engineering company, added 1,170 BTC to its balance sheet, paying approximately…
-
Coinbetter launches global ambassador recruitment program
In order to better build a blockchain industry ecology integrating technology research and development, industrial research, open platform, investment, information, etc., Coinbetter launched a global ambassador recruitment plan in March 2022, which not only gave users super high rebates, but also there are other great benefits. According to Coinbetter’s official announcement, the recruitment of global ambassadors is open to more blockchain enthusiasts such as community owners, social media influencers, industry KOLs, professional institutions and tool aggregators to join hands with Coinbetter to build a trading ecosystem and expand Coinbetter Brand…
-
NEWXX will jointly release NFT with a well-known design DAO.Contribute to the ecologically sound development
According to the official news, NEWXX Foundation will jointly issue NFT with famous design DAO in limited quantity, and users who get NXX-NFT can collect, auction or pledge NFT to get more NXX revenue. NEWXX Foundation and its partners around the world have been adhering to the core values of value investment and long-term and robust development strategy. In the period of crypto asset downturn and turbulence, the platform operates a robust and unique non-loss mining mechanism through its core technology to empower more users to maintain their mainstream crypto…
-
The EAFF E-1 Football Championship 2022 Begins. CoinW writes a new chapter of sports event cooperation.
On July 19 at 15:00 Beijing time, along with the opening of the Korea Women’s Football Team vs. Japan Women’s football match, the EAFF E-1 Football Championship 2022 was officially begun. In the next 9 days, a total of 12 matches, male and female soccer players from China, Korea, Japan, Hong Kong, China, and Taiwan will bring a feast of soccer to fans in Asia and around the world. It is worth mentioning that leading digital asset exchang, CoinW debuted in the EAFF E-1 Football Championship 2022 for the firsttime. According to…
-
The world premiere of FIL II is bound to be a rising star
With the rapid development of 5G, Internet of Things, and artificial intelligence, it is estimated that by 2023, about 40% of storage systems will be distributed storage architectures. Although the realization process of large-scale applications continues, the potential advantages of distributed storage accelerate the transformation of the new data era. FIL II is a distributed file storage network based on blockchain technology, a network transmission protocol for distributed data storage and shared files. FILII is the only incentive layer for FIL II, a decentralized distributed storage network….
