Anchor Protocol

Founded in 2020 and based in Seoul, the Anchor Protocol offers a savings platform based on the Terra blockchain that allows users to lend a number of different tokens to earn stable yields or borrow at stable rates. Governed by its native token ANC, Anchor leverages liquid staking derivatives to achieve stable interest rates called the “Anchor rate,” which, as of April 2022, was almost 20%. Borrowers can deposit staked derivatives of any blockchain such as Ethereum, Polkadot, Cosmos, and Solana (known as bAssets) as collateral. They can also pledge the staked earnings of the assets for ANC rewards, while depositors can use the staked earnings to subsidize their accrued interest. 

In March 2021, Anchor Protocol raised USD 20 million in venture capital with participation from Arrington XRP Capital, Galaxy Digital, Pantera Capital, and Alameda Research, among many others.