Cosmos, Polkadot, Terra have joined hands to develop a new Savings DeFi protocol that brings higher and steady returns to traders when depositing in steady coins.
Dubbed Anchor is a financial savings protocol produced by a consortium of 3 giants, blockchain network Cosmos, Polkadot and steady coin Terra.
According to the press release, Anchor will deliver higher and steady returns to individuals who participate in staking on its platform.
When traders deposit steady coins, the Anchor protocol utilizes a portion of that fund to staking into Proof of Stake networks. The rewards obtained from this staking exercise will be distributed to traders in accordance to the corresponding curiosity charge.
Anchor ideas to allow staking of consumer deposits in PoS blockchains, with curiosity costs ranging from seven% to 9% per annum. The products is anticipated to launch on the Cosmos, Polkadot and Terra blockchains by the finish of Q3 2020. The developers also intend to broaden the undertaking to other PoS ecosystems in the potential.
