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Anchor Protocol

ANC

Price
$0.0911
9/25/2022, 7:11:25 AM
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Market

Market stats

Market cap

$32.0M

Volume (24h)

$11.3M

Circulating supply

350.4M ANC

All time high

$8.31

Price change (1h)

-0.27%

Price change (24h)

-2.48%

Price change (7d)

-14.79%

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Anchor Protocol is on the decline this week.

The price of Anchor Protocol has fallen by 14.79% in the past 7 days. The price declined by 2.48% in the last 24 hours. In just the past hour, the price shrunk by 0.27%. The current price is $0.091063 per ANC. Anchor Protocol is 98.90% below the all time high of $8.31.

The current circulating supply is 350,381,852.323 ANC.

About

What Is Anchor-Protocol (ANC)?

Anchor is a savings protocol developed on the Terrablockchain that accepts Terra deposits, allows instant withdrawals, and pays depositors a low-volatility yield.

The introduction of the Anchor protocol was made when it was observed that a wide range of financial applications covered a broad range of use cases, including collateralized lending (Compound), decentralized exchanges, and prediction markets (Augur) that were launched. But DeFi had yet to produce a simple and convenient savings product with broad appeal outside the world of crypto natives.

Anchor-protocol believed that the path to mass adoption for decentralization is the saving products. Anchor lends out deposits to borrowers who put down liquid-stakedPoS assets from major blockchains as collateral (bAssets) to generate yield. The deposit interest rate is stabilized by passing on a variable fraction of the bAsset yield to the depositor. Bonded asset (bAsset) is a token that shows ownership of a staked PoS asset. bAsset pays the holder block rewards and is both transferable and fungible.

Stabilizing the yield to depositors is an essential feature. Therefore, Anchor overcomes one of the key limitations of Compound and Maker as savings products: the highly cyclical nature of deposit yields.

Anchor also offers the main street trader a single, reliable rate of return across all blockchains. Anchor aggregates block rewards from all major PoS blockchains to set the blockchain economy's benchmark yield. The return that depositors can expect with Anchor is a function of borrowers’ on-chain income. Along with the saving products, Anchor supports more financial applications than the authors can envision:-

  • Saving products- Anchor offers a solution with Terra stablecoin markets. Users who deposit Terra stable coins get stablecoins to avoid the high volatility of crypto-assets. Also, Anchor’s deposit yields’ stabilization offers protection from volatility by providing stable returns.

  • Price and staking yield leverage- Users can put their assets as collateral to borrow stablecoins and buy more of the same asset, thus can leverage their positions. Also, users can take advantage of low-rate periods by purchasing bAssets whose yield exceeds their borrowing cost.

  • Liquidation contracts- Anchor liquidation pool is a higher-risk, higher-return product that provides liquidation financing for Anchor debt positions.

History of Anchor-protocol (ANC)

The whitepaper of the Anchor protocol was released on June 2020.

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FAQ

What is the current price of Anchor Protocol?

The price of 1 Anchor Protocol currently costs $0.0911.

What is the market cap of Anchor Protocol?

The current market cap of Anchor Protocol is $31.95M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Anchor Protocol?

The all-time high of Anchor Protocol is $8.31. This all-time high is highest price paid for Anchor Protocol since it was launched.

What is the 24 hour trading volume of Anchor Protocol?

Over the last 24 hours, the trading volume of Anchor Protocol is $11.28M.

What other assets are similar to Anchor Protocol?

Assets that have a similar market cap to Anchor Protocol include Celo Euro, TROY, CoinEx Token, and many others. To see a full list, see our comparable market cap assets.

How many Anchor Protocol are there?

The current circulating supply of Anchor Protocol is 350 million.

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