Anchor Protocol Anc Price USD

Anchor Protocol is a way to lend and borrow money, and deposits of stablecoin can earn up to 19.5% interest. Lenders can put their UST into a bank account and earn good rates on their investments while also enjoying low volatility. Borrowers don't have to give up control of their LUNA collateral when they turn it into something useful.

Anchor Protocol can therefore bring in investors who don't like taking risks and are looking for high-yield, low-volatility investments, which will increase demand for UST. This makes it more likely that UST will be used as a stablecoin and that the Terra project will be used in DeFi. The price of LUNA will go up as more people use Terra, whose founders were behind the launch of Anchor Protocol.

Terraform Labs, a South Korean fintech company started by Daniel Shin and Do Kwon, created Anchor Protocol in March 2021. Terraform Labs is also behind the Terra layer-one blockchain, which has taken the DeFi space by storm and is expected to grow by 17,000% in 2021.

Before starting Terraform Labs, Mr. Kwon was the CEO of a startup called Anyfi, which made solutions for decentralised wireless mesh networking. He has also worked as a software engineer for both Microsoft and Apple in the past. Mr. Shin co-founded and ran Ticket Monster, a major South Korean e-commerce site. He also helped start Fast Track Asia, which is a place where entrepreneurs can get help building businesses.

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