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
-
OEC (OKEXChain)’s first NFT asset aggregation platform Dematrix will be launched on the mainnet soon
The official opening of the third phase of OKEXChain has opened a new era of DeFi ecology, which is good news for everyone in the blockchain world. OKExChain is the world’s first transaction chain-a blockchain technology infrastructure built for transactions. Through the development of “blockchain middleware” and operational support for transaction scenarios, it reduces the development costs of application developers and improves users’ Trading experience. As an open public chain ecology, anyone can campaign to become an OKExChain super node, or they can issue their own digital assets, create their…
-
LibraSwap cross-chain transaction to lead the Swap 2.0 wave
LibraSwap is the first NFT, cross-chain exchange platform where you can mint (create) NFTS through a crypto chain and easily exchange tokens between crypto chains. LibraSwap’s mission is to provide consumers with cryptocurrency-based financial services that enable them to exchange or “exchange” various digital assets. LibraSwap is committed to providing consumers with cryptocurrency-based financial services that enable them to exchange or “exchange” various digital assets. To facilitate cross-chain Dex and cross-chain exchange between ETH and BNB for exchange settlement that exceeds the limits of a typical isolated blockchain network. …
-
Blockchain+ energy, IEA is born strong
The rapid growth of the earth’s population and the industrialization of developing countries are pushing global energy demand to unprecedented levels. The world’s energy dependence on fossil fuels such as coal, oil, and natural gas poses a major risk to the environment and is one of the main factors causing adverse climate change. With these challenges, new approaches to energy production and distribution are needed. The solution must support dynamic and sustainable global growth, for which the IEA came into being. The IEA Foundation was established by the Japanese IEA…
-
Gswap is about to start, supporting cross-chain transactions and multi-scenario applications
The Gswap decentralized application will be officially launched in early March 2022, and the Chinese language entrance will also be opened at the same time. In 2019, PIaytika announced its entry into the blockchain industry and began to conduct research work in the blockchain industry. In May 2020, PIaytika began to deploy the metaverse industry and digitally upgrade the existing industry. Gswap is a decentralized application based on the PK digital ecological wallet on the GS smart ecological chain developed by PIaytika & MET FX. It is planned to run…
-
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….
-
Recapping the First Few Weeks of CME Ether Futures
On February 8, CME Group officially launched Ether futures. ETH futures went live just a little more than three years after CME Group began offering Bitcoin futures. In this interview, CME Group Global Head of Equity Index and Alternative Investment Products Tim McCourt discusses the origins of ETH futures, what convinced them that the time was right for the product to go live, how institutional investors’ attitudes towards Ethereum (and crypto as a whole) have changed, and how the response from the market has been. When did you start thinking…
-
SoulSwap off the central chain on the trading platform shocked the attack, grand online press conference
Recently, SoulSwap, a decentralized financial data aggregation platform initiated by the Soul Blockchain Lab in the United States and developed by the world’s top Silicon Valley technical team, is about to be launched shockingly. As a platform based on decentralization and with core underlying technology, SoulSwap is achieving rapid fission with the exclusive “coin mining + computing power mining + promotion mining” model. The SoulSwap team held a grand press conference today, announcing that SoulSwap, a digital asset trading platform with a decentralized operation model, will be launched soon,…
-
Recap of Heroland Community Conference
Heroland Community Conference has successfully ended! Now let’s have a review about the whole conference! Introduction Metaease aims to gather the builders, designers, producers and users of the Metaverse through decentralized autonomous communities and further innovate on the basis of blockchain technology and game production technology, thus build a virtual world that blends with the real world, making it a Metaverse with complete economic cycle and social application value – Metaease will help individuals and organizations stand at the forefront of the future, establish the ultimate expression of the…
-
Staking as an Asset Class? This Swiss Institutional Fund Is Jumping In
While institutional investors around the world are just getting their heads around bitcoin (BTC, -1.43%), asset managers in crypto-friendly Switzerland are heading into staking on next-generation blockchain networks. Announced Friday, Zurich-based investment firm Tavis Digital has partnered with Singapore-based Persistence, a bridge for traditional firms into undiscovered realms such as token staking and decentralized finance (DeFi). Tavis Digital is a spin-off of Tavis Capital, an asset manager regulated by the Swiss Financial Market Supervisory Authority (FINMA) with about $1.07 billion in assets under management. Nimble and financially sophisticated countries like Switzerland and…
-
Social Tokens Crash After a Reported Hack at Roll Wallet
A number of social tokens, or cryptocurrencies supporting online communities, tanked early Sunday after a reported security breach at Roll. Tokens like WHALE, RARE and PICA tanked more than 50% during the early European hours, according to data provider CoinGecko. Meanwhile, the RLY token of competing social money platform Rally spiked to all-time highs. The founder of WHALE, a social coin underpinned by a basket of non-fungible tokens (NFTs), confirmed the hack on Twitter, stating that 2.17% of the coin’s supply has been compromised and the rest is secure in the cold storage. Whale price dumpSource: @NiftyReport Roll…
