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Terra's Largest DeFi Protocol Anchor Changes ANC Airdrop Rules: Details

Wed, 04/20/2022 - 14:21
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Vladislav Sopov
Last Anchor Protocol (ANC) airdrop to go live next week. What is the motivation behind such a radical decision?
Terra's Largest DeFi Protocol Anchor Changes ANC Airdrop Rules: Details
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The second largest DeFi protocol by total value of assets locked (TVL) is going to reform the airdrop policy. This decision was approved by a community referendum on Anchor's forum.

Anchor Protocol stops ANC airdrops: Here's why

As per the statement shared by the team of Terra-based DeFi ecosystem Anchor Protocol (ANC), the last airdrop of its native token, ANC, goes to Terra (LUNA) stakers.

On April 12, 2022, it was proposed to stop the airdrop program as its "increased emissions" become more and more dangerous for the stability of ANC token.

A total of 12.83% of Anchor Protocol (ANC) enthusiasts took part in the referendum on this proposition, while a quorum was set at 10%. Ninety-eight point five percent (98.5%) of voters supported the proposal.

As such, the airdrop program is stopped for good. Those who have unclaimed tokens from previous airdrops should claim them before June 1, 2022.

Community expresses mixed feelings

The remaining 74,070,000 ANC in the Anchor Airdrop contract will be transferred to Anchor Protocol's community pool.

Anchor community members on the protocol's forum welcome the new regulation, while Twitter followers of Anchor's main account lack consensus about its role.

Some of them never claimed ANC, while others admitted that the payouts were too small. For instance, a $0.55 per week bonus was allocated to a user with 100 LUNA ($10,000 in equivalent) staked.

As covered by U.Today previously, Anchor Protocol (ANC) is the largest and most popular decentralized finance protocol of the Terra (LUNA) ecosystem.

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

Allowing users to stake UST stablecoin with 19.5% in APY, it amassed more than $15.8 billion in TVL.

ANC token's price is changing hands at $2.16 on major spot exchanges, up 0.2% in the last 24 hours.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (, Monoreto, Attic Lab etc.)