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
-
Gain instant insights into unique mechanisms and purchase mode of 4JNET
Blockchain technology creates reliable cooperation mechanism and wins lots of trust due to its widespread prospects. The advancement of this technology further brings about a massive monetary revolution of financial inclusion. Yet, it’s now too late for investors to hold Shib, Safemoon and other tokens as they have appreciated a lot. Never mind! Here’s a new chance! 4JNET, a new encrypted token, will debut on 1 December 2021. Moreover, the limited-edition NFTs will be presold on 20 October 2021. Lots of experts and senior players in the token industry show vigorous support…
-
Tesla’s Elon Musk Wants Coinbase to Become DOGE-Friendly
Tesla CEO and unabashed dogecoin fan Elon Musk wants the Coinbase exchange to end its “No DOGE Allowed” policy and list the meme-based cryptocurrency. Musk tweeted an exclamatory “Yes” on Saturday after a Twitter user asked the billionaire investor whether Coinbase should enable the Shiba Inu-represented cryptocurrency on its platform. Musk’s Twitter reply.Source: https://twitter.com/elonmusk/status/1370557948494233604 A listing on Coinbase would expose dogecoin to a whole new breed of investor and thus unleash its potential. That’s because the U.S.-regulated exchange is considered synonymous with institutional investors and high net worth individuals. Tesla bought bitcoin worth $1.5 billion…
-
Tether on Tron Blockchain Hits $24B, Surpassing Ethereum Amid Explosive Stablecoin Demand
There’s now more of the dollar-linked stablecoin tether (USDT, +0.02%) on the Tron blockchain than on Ethereum, data from Coin Metrics shows, possibly a sign that crypto traders are favoring the network’s lower transaction fees. Source: Coin Metrics As of April 14, the total market capitalization of tether (USDT) on Tron was $24 billion, versus $23.4 billion on Ethereum. “As the popularity and adoption of cryptocurrency and blockchain continue to grow, we expect USDT to continue to explode in popularity” Justin Sun, founder of Tron and CEO of BitTorrent, said in a press release….
-
DeFi Major Aave Working With Polygon to Bypass Ethereum Congestion
Decentralized finance (DeFi) firm Aave is working with Ethereum layer 2 Polygon to address the congestion currently experienced on the second-largest public blockchain. Announced Wednesday, Aave will be exploring scalable sidechains with Polygon (formerly known as Matic) to escape the high transaction fees that currently exist on Ethereum. Aave says it will use a soon-to-be available smart-contract bridge that will seamlessly port assets from one network to the other. The “DeFi Summer” of 2020 has not really slowed down, with close to $43 billion currently locked within DeFi lending platforms. Built…
-
Digital Currency Group to Buy Up to $250M of Grayscale Bitcoin Trust Shares
Digital Currency Group, the parent of Grayscale, said it’s authorized the purchase of up to $250 million worth of the lagging shares of the Grayscale Bitcoin Trust (OTCQX: GBTC), its subsidiary’s flagship product. In an announcement Wednesday, DCG – which is also the parent company of CoinDesk – said it will be buying GBTC shares on the open market. The purchase comes as the price of GBTC shares has fallen from an all-time high of $58.22 set last month to $41.40 last week before rebounding somewhat. In addition, the shares, which had…
-
Oracle —— Helps blockchain interact with reality
The Blockchain world, the one trapped in the mid-air The biggest core innovation of blockchain is to solve the trust problem in a decentralized way, without the need to trust and rely on third-party institutions for value transfer. Among them, smart contracts play an important role. It is a set of contracts defined in digital form to help contract participants execute the agreement to complete tasks, saving time and tedious steps. However, it is precisely because of the consensus mechanism of the blockchain that the internal blockchain is a…
-
BitKeep V7.0 comes with a new NFT Market
We are happy to introduce BitKeep V 7.0 on March 15th, 2022. As the top decentralized multi-chain crypto wallet in Asia, BitKeep brings a new UI and improved sections in the 7.0 version to present our users with enhanced services and add an extra layer of security to the encrypted crypto trading environment. Aside from the improvement in terms of UI, transaction convenience, user experience, security and more, BitKeep V 7.0 has launched new features including NFT Market and Discover. https://www.youtube.com/watch?v=FskRmYjXqbY BitKeep V7.0 1. New UI The UI is re-designed to be aesthetically consistent…
-
Youkey Public Link Global No de Campaign poll officially opened on May 8 , 2 0 2 1
The Youkey Public Link No de campaign poll officially opened on 8 May 2 0 2 1 , with the No de poll participating in the youkeyDAPP decentralized Wal let .The node voting will run for 10 public chain nodes , with a voting cycle of 30 days .The whole voting process is conducted by a smart contract system to ensure a fair notarization of the voting . Youkey public chain , as the public chain of a new generation of comprehensive functions , is a meaningful proof of work…
-
Fintoch: Alleviating DeFi Onboarding Barriers for TradFi
We are no doubt weathering the harshest “winter” in crypto, with CoinGecko reporting a 74.6% DeFi market crash to $36 billion in Q2, 2022. What’s worse is that DeFi related hack is exacerbating this downfall. As REKT Database shown, DeFi related exploits surged significantly in May. Despite the low morale in the crypto market, true believers continue to build in the bear market and TradFi investors are still eager to get a taste of the “hearsay” high yielding DeFi protocols. Fintoch Investment platform, the key product of Morgan DF Fintoch LLC, enters the…
-
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…
