The future is here
Imagine earning a 20% yearly return on your savings
You can stop imagining, but first:
What if you google "best savings accounts"?
You will find interest rates of 1.10 to 1.55%
Anchor is now changing the game with 20% interest, that's 1300% more!
100,000$ is worth 120,000$ in a year (you are not dreaming)
But how you ask?
Let's dive into Anchor
anchor savings protocol runs on the terra blockchain
It was created to give incredibly high fixed yields (+20%) on stablecoin deposits
Three simple steps to start earning 20% interests
Need help understanding the concept of stablecoins? click here
1. Convert your fiat money into TerraUsd (UST)
To use Anchor, you will need UST. You can buy UST with your bank account or debit/credit card on the supported exchange: Kucoin (USA), ZenGo, Bittrex, or through Moonpay
3. Deposit your UST in Anchor Protocol
Once you created your Terra wallet you will need to send the UST you bought from the exchange to your wallet. Then go to the Anchor web app and deposit your UST in the Earn tab. You will now earn 20% APY, you can preview the expected interest on the same tab.
How to deposit UST in anchor and earn 20% APY video
2. Create a Terra Station wallet
You will need to make a Terra wallet to be able to transact on the Terra blockchain and connect to Anchor Protocol. Download the chrome extension and the desktop app.
How to make a terra wallet video
4. Learn how you can borrow UST and provide in the ANC-UST liquidity pool
(advanced)
1.Click here to learn about how you can borrow UST on Anchor to earn 75% APR using your LUNA as collateral.
2.Click here to learn about how you can provide liquidity in the ANC-UST pool to earn 80% APR
credits: What is anchor by @shaiktime
Imagine taking a loan to buy a house and have it repay itself over time.
Stop imagining, anchor can do that
four simple steps to borrow Ust on anchor
1. Buy LUNA
You will need LUNA tokens that will serve as collateral to be able to borrow on Anchor. You can buy LUNA on Binance or Kucoin (USA).
3. Mint bLUNA with your LUNA
In order to be able to take a loan on Anchor you will need to mint bLUNA in the "bond" tab using your LUNA supply.
Keep in mind the unbonding period is 21 days if you want to transfer back you bLUNA tokens into LUNA tokens
2. Deposit your LUNA in your Terra wallet
Send your LUNA that you just bought from an exchange on your Terra wallet. If you didn't create a wallet yet, click here.
4. Provide bLUNA as collateral and take a loan
Navigate to the Borrow page and click on provide bLUNA. Provide the number of bLUNA you want to deposit as collateral.
You can now borrow UST up to 50% of the value of your deposited collateral.
Keep in mind 35% LTV is considered "safe" if you keep an eye on it. Do not exceed 50% or you will get liquidated.
Start earning daily interest, much higher than what typical dividends stocks would give you
Provide liquidity in the ANC-UST pool and earn daily anc tokens
