Cosmos, Polkadot, and Terra join hands to establish a high-interest DeFi protocol
Cosmos, Polkadot, Terra have joined hands to create a new Savings DeFi protocol that brings high and stable returns to investors when depositing in stable coins...
[ad_1]
Cosmos, Polkadot, Terra have joined hands to create a new Savings DeFi protocol that brings high and stable returns to investors when depositing in stable coins.
Dubbed Anchor is a savings protocol created by a consortium of three giants, blockchain network Cosmos, Polkadot and stable coin Terra.
According to the press release, Anchor will bring high and stable returns to those who participate in staking on its platform.
When investors deposit stable coins, the Anchor protocol uses a portion of that fund to staking into Proof of Stake networks. The rewards received from this staking activity will be distributed to investors according to the corresponding interest rate.
Anchor plans to enable staking of user deposits in PoS blockchains, with interest rates ranging from 7% to 9% per annum. The product is expected to launch on the Cosmos, Polkadot and Terra blockchains by the end of Q3 2020. The developers also intend to expand the project to other PoS ecosystems in the future.
[ad_2]
More From Market
USDT to BTC Exchange 2026: Best Rate With ChangeNOW and Alternatives
USDT to BTC in 2026: ChangeNOW, Swapzone, and StealthEX compared by rate spread, settlement time, and no-KYC limits. Fixed vs floating rate guide included.
Strait of Hormuz Shipping Attack Raises Oil Supply Fears
An attack on Strait of Hormuz shipping has renewed fears for oil supplies, according to unconfirmed reports, though the specific incident behind the headline re...
Block EPS Jumps 65%, Stock Falls Despite Strong Earnings
Block reported a 65% surge in earnings per share, yet its stock fell in the wake of the results, a disconnect that made market sentiment, rather than the headli...
BTC Price Warning: 4 Reasons Bitcoin Could Drop Next Week
This BTC price warning centers on a single decision level: Bitcoin has struggled to maintain the $65,000 mark, and a four-part downside setup has traders watchi...
Crypto Price Analysis July 24: ETH, XRP, ADA, BNB, HYPE
Ethereum is the only asset in this group with a defined weekly move, up 3% but pressing into resistance, according to CryptoPotato’s July 24 price analysis . Th...
FT report: London Stock Exchange plans round-the-clock trading
The London Stock Exchange is looking at moving to round-the-clock trading, the Financial Times reported . In practice, that would mean shares could be bought an...
Author
Kishu Inu
Kishu Inu reports on crypto market activity, Web3 project updates, and blockchain business developments for CoinLive.