Boca, Cosmos and Terra have launched DeFi savings product Anchor, offering an interest rate for stable currency deposits

In a special announcement made at the Unibeats Conference on July 6th, Cosmos, Polkadot and Terra unveiled DeFi savings product called Anchor, which aims to offer rates on stable currency deposits. Participating companies will launch Anchor on their blockchain at the end of the third quarter of this year, and expand to other PoS blockchains in the future.

Anchor's smart contract receives stable currency deposits and USES part of them to pledge in the PoS chain. Users will get passive income from these pledges.& have spent

Initial management of the platform will be led by the Interchain Asset Association (IAA), a newly formed organization led by Zaki Manian of Cosmos, Jack Platts of the Web3 Foundation, and Do Kwon of Terraform Labs.

The original address: https://cointelegraph.com/news/3-big-blockchain-companies-teamed-up-on-a-defi-product-that-pays-passive-income

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