DeFi savings product Anchor is expected to be online in October and will issue a governance token with the same name
Pulsating BlockBeats, Anchor, a new decentralised financial platform made up of Terra, Cosmos, Web3 Foundation and Solana, is being designed to kick off governance rewards. Anchor will launch its first edition in October, according to Do Kwon, co-founder of Terra.
The initial projects supported by the project are Terra, Cosmos and Boca. Solana is the latest addition to the platform, and on Monday, Solana built a decentralized trading platform called NBSP; Serum issued a white paper, and perhaps in the future the platform will also give Anchor a new lease of life.
According to a previous report by Dynamic, Anchor is a DeFi savings product. Anchor's smart contract receives stable currency deposits and USES part of them to pledge in the PoS chain. Users will receive 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.
According to Terra co-founder Do Kwon,The new governance token might be named Anchor. It will complete the distribution of all tokens within five years, and Anchor does not pre-dig.
This new token represents future demand. For example, if an investor in Cosmos deposits 100 ATOM tokens on a mortgage platform that claims a 5% annual return, he or she receives a token; Anchor calls those tokens bTokens. If the investor redeems the mortgage token at the end of the year, they will get 105 ATOM COINS.
Much like Compound or MakerDAO, Anchor will let the PoS holder store BToken as an asset in the Anchor. These will be used as collateral for stabilisation loans.
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