Terra’s anchor protocol reaches a locked-in value (TVL) of $ 4 billion 6 months after its inception
Just six months after its inception, Terra’s Anchor Protocol topped a total of $ 4 billion (TVL). This Terra blockchain savings protocol has brought users an 18-20% return on stablecoins and has quickly positioned itself at the forefront of the DeFi sector.
Anchor becomes the third most popular DeFi protocol
According to a recent report, the protocol should continue to grow, albeit at a slower and more sustainable rate. The Anchor Protocol was officially launched on the ambitious Terra blockchain on March 18, and has quickly positioned itself as the leading protocol for high yield farming in the DeFi market. Just six months after going live, the protocol already has a Total Value Locked (TVL) of over 4 billion US dollars.
And while the number of coins locked in Anchor has fallen slightly below $ 4 billion in the past week, the log continues to grow in almost every metric.
Anchor deposits have grown along with UST’s market cap, according to a recent report. The Terra stablecoin has proven extremely popular as the number of users grows, many of whom choose to deposit funds into Anchor. The report finds that there is a near perfect correlation between the amount of UST purchased and the amount of UST deposited on Anchor.
The data shows that Anchor’s deposits represented only 10% of UST’s market cap in March. As the protocol gained traction, its deposits grew to 56% of the UST market cap.
Going deeper, the Anchor deposits have historically grown at an Average Weekly Growth Rate (CWGR) of 13.6%. However, the report suggests that it is highly unlikely that Anchor will continue to grow at this rate until the end of the year. UST’s market cap target for late 2021 is $ 10 billion, and it is very unlikely that all of its UST supply will be locked in Anker.
As Terra grows, users will be looking for more and more ways to use UST, LUNA, and other Terra tokens. This does not mean that Anchor will lose value in the Terra ecosystem as other highly liquid staking derivatives are likely to be added to its proposal.
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Terra’s anchor protocol reaches a locked-in value (TVL) of $ 4 billion 6 months after its inception
Just six months after its inception, Terra’s Anchor Protocol topped a total of $ 4 billion (TVL). This Terra blockchain savings protocol has brought users an 18-20% return on stablecoins and has quickly positioned itself at the forefront of the DeFi sector.
Anchor becomes the third most popular DeFi protocol
According to a recent report, the protocol should continue to grow, albeit at a slower and more sustainable rate. The Anchor Protocol was officially launched on the ambitious Terra blockchain on March 18, and has quickly positioned itself as the leading protocol for high yield farming in the DeFi market. Just six months after going live, the protocol already has a Total Value Locked (TVL) of over 4 billion US dollars.
And while the number of coins locked in Anchor has fallen slightly below $ 4 billion in the past week, the log continues to grow in almost every metric.
Anchor deposits have grown along with UST’s market cap, according to a recent report. The Terra stablecoin has proven extremely popular as the number of users grows, many of whom choose to deposit funds into Anchor. The report finds that there is a near perfect correlation between the amount of UST purchased and the amount of UST deposited on Anchor.
The data shows that Anchor’s deposits represented only 10% of UST’s market cap in March. As the protocol gained traction, its deposits grew to 56% of the UST market cap.
Going deeper, the Anchor deposits have historically grown at an Average Weekly Growth Rate (CWGR) of 13.6%. However, the report suggests that it is highly unlikely that Anchor will continue to grow at this rate until the end of the year. UST’s market cap target for late 2021 is $ 10 billion, and it is very unlikely that all of its UST supply will be locked in Anker.
As Terra grows, users will be looking for more and more ways to use UST, LUNA, and other Terra tokens. This does not mean that Anchor will lose value in the Terra ecosystem as other highly liquid staking derivatives are likely to be added to its proposal.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
mango
According to Cryptoslate
Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page
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