Anchor Protocol, a multi-chain DeFi ecosystem on Terra (LUNA) and Avalanche (AVAX), has managed to pass an important milestone.
Renowned blockchain entrepreneur Do Kwon, founder and CEO of Terraform Labs, the development studio behind the Terra blockchain and the UST stablecoin, has announced a new milestone for Anchor Protocol.
Terra’s DeFi product, Anchor Protocol, has managed to exceed $12 billion in Terra USD (UST) deposits.
This huge amount has been deposited by 226,000 Terra users.
This amount, locked to Anchor Protocol, outstripped the combined TVL of Avalanche, Polygon (MATIC), and Phantom’s (FTM) DeFi ecosystems.
Anchor accepts a unique 19.5% UST deposit on APY. So far, this rate has no rival among reliable smart contract platforms.
Terra’s Bitcoin buying spree also continues to catalyze the price of BTC. Terra continues to make headlines for an aggressive Bitcoin buying strategy. Do Kwon, the CEO of the project, announced that they wanted to become the largest Bitcoin owner after Satoshi Nakamoto.
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