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$12 Billion: Terra's Anchor Protocol Smashes Through Another Milestone

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Thu, 31/03/2022 - 16:30
$12 Billion: Terra's Anchor Protocol Smashes Through Another Milestone
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Anchor Protocol is a multi-chain DeFi ecosystem on Terra (LUNA) and Avalanche (AVAX). Amid all high-profile mainstream DeFis, it offers the highest yields on stablecoin deposits.

$12,000,000,000 in UST deposited to Anchor

Renowned blockchain entrepreneur Do Kwon, the founder and CEO of Terraform Labs—the development studio behind Terra (LUNA) blockchain and its UST stablecoin—reports another splendid milestone for his ecosystem.

Terra's flagship DeFi product, Anchor Protocol (responsible for 51.8% of total volume locked on Terra-based DeFis) surpasses $12 billion in Terra USD (UST) deposits.

This massive amount was deposited by 226,000 Terra (LUNA) users.

To provide context, this sum eclipses the entire TVL of the Avalanche (AVAX) DeFi scene or that of Polygon and Fantom DeFi ecosystems combined.

Terra's purchasing spree catalyzes Bitcoin (BTC) price

Anchor accepts UST deposits, offering an unmatched 19.5% in APY. So far, this rate has no competitors among credible smart contracts platforms.

Terra (LUNA) platform made headlines due to an aggressive Bitcoin (BTC) purchasing strategy. Its ultimate target is the status of largest corporate Bitcoin (BTC) holder.

Related
Terra (LUNA) Reaches New All-Time High Amid Bitcoin Buying Spree

Its buying spree may be among the most powerful catalysts behind the ongoing Bitcoin (BTC) rally to new 2022 highs.

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