High Dependency on Terra: Anchor is heavily dependent on Terra's money market and in particular its native token, LUNA. The entire project has been created out of thin air and the value of UST is not backed in the same way that other stablecoins are. Terra Blockchain. Terra Smart . Any use or reliance on our content is solely at your own risk and discretion. Anchor is an inter-chain DeFi application that pools the emission from PoS blockchains, stabilizes it, and passes it on as fixed, high-yield interest to depositors. bETH. I've been avoiding using ETH by any means possible so I don't have a lot of experience with it and don't really want to start loading anchor up with all kinds of money without some sort of risk mitigation. Anchor uses the Web Assembly smart contract that enables the depositing and withdrawal of Terra tokens. Key risk is in unwinding of the Anchor UST deposits which could potentially over-supply the UST market outside of the protocol. Anchor Token (ANC) . Anchor Protocol Risks. As Bridge Mutual is a decentralized and permissionless protocol, it lets anyone provide insurance coverage and earn a relatively high yield on stablecoin deposits. ( Note: The percentages under the "Amount" box refer to percentages of the total account balance.) I. This setting provides the address of contracts and specifies the setting for LCD provider, gas prices for fee estimation. UST De-Peg Cover . This application is free to use but if you like it and want to support my work, luna or anc donations are greatly appreciated . Finally, there are several good stablecoin farms out there. Key opportunity lies in native stables readily available to fuel ecosystem growth as most smart contract ecosystems are constrained by stables — a constraint uniquely minimized on the Terra ecosystem. Build savings . It's important to know how big is the technical risk of the stablecoin you are considering. It uses an over-collateralized architecture to allow users to borrow, lend, and earn interest with their digital assets. Technical due diligence - Blockchain and smart contract failures do happen. Through this, it expects to increase demand for UST, which aims to surpass . While Anchor has been audited by Certik, so was Poly Network that was hacked for $600,000,000 this year (loot was later returned ). Cryptocurrency and blockchain technology has come a long way since 2009 when Bitcoin was first introduced. 102. ZIL gained around 400% in March, though the . Smart contract risk. Anchor protocol platform where users can earn as much as 20% APY on your crypto holdings. Its 24-hour trading volume on exchanges is around $5,727,987. Kujira (formerly Harpoon Protocol) - Coming Soon. The BORROW page can be used to borrow Terra stablecoins from Anchor. This is known as APY. Apply. The protocol pays back "at risk" loans using. Smart Contracts. Apply. Anchor TVL (Mar. Additionally, the community can review the network's smart contracts and more to further vet the platform. Bundled Cover. 12: 2.3k . 33. ANC+UST De-Peg Smart Contract Cover for Anchor on Terra. Borrowers can use bonded LUNA (bLuna) or bonded ETH (bETH) to secure UST loans. If the . Many LUNAtics were affected due to being exposed to leverage on Anchor. . Contract Addresses. Protocol Security Engineer (Anchor) US Remote Anchor. General. Coinbase. The Anchor code was initially developed by Terraform Labs (Terra). 6: 191: 11d: Redirect portion of borrower incentives to ANC-LP Rewards. . columbus-5. Anchor, a DeFi savings protocol, has a notable metric of $17 billion in total value locked. . MIM De-Peg. Anchor Protocol price today is $1.59 with a 24-hour trading volume of $104,438,563. The users can leverage the 20% rewards for depositing UST on Anchor in a secure manner. "Stable & attractive yields denominated in the dollar, and composable in smart contracts is the holy grail of cryptocurrency," says Do Kwon, Co-Founder, and CEO of Terra. Apply. Anchor Protocol offers a fixed return on a crypto stablecoin of around 18% per annum. That metric is split up into a total deposit amount of $11.49 billion and total collateral of $5.59 billion. Protocol . Mutuals to replace insurance. For example, underwriting insurance for Anchor Protocol, a lending platform on Terra that offers 19.5% interest on UST deposits, currently yields roughly 57% APY. Product ID. There is smart contract risk in every protocol I mention, as well as stablecoin risk too. The core smart contracts of Anchor are deployed on the Terra blockchain, and can be found at the below networks: Network Classification. Follow Follow @anchor . 173. Top financial technology investors recently committed $150m towards Terra's flourishing ecosystem of financial applications , which includes Anchor. Take our recent partnership with Anchor Protocol as an example. Step 3: Set buying/selling prices and buying/selling amount (or exchange total). CEX. Safety is a top priority for Anchor Protocol users. Step 2: Search and enter the cryptocurrency you want to trade. Thus, always do your own research on the vulnerabilities the protocols smart contract could have. These platforms rely on smart contracts to govern and automate their functions. APY fluctuates between 19%-21% and basically stays at 20%. Smart Contract Risk. Type. "5/6 Always remember that it is good practice to deposit in different farms to reduce the risk, since risk of exploitation of smart contract is never 0, even though so far both @anchor_protocol and @yieldyak_ have proven to be building within the best safety practice.." 5: 167: 1d: My balance has disappeared! Therefore, Anchor is not just another protocol in the Terra ecosystem. Anchor Protocol is the poster child of the Terra Ecosystem, boasting an impressive $10.2bn TVL. Chain ID. Principal protection via liquidation of loans in risk of undercollateralization. 83. Anchor Protocol defines a money market between lenders and borrowers. Adding additional layers of complexity may not be the best for a beginner in this space. The Anchor protocol defines a money market between a lender, . According to a recent report, the protocol is set to continue its growth, albeit at a slower and . By default, airdropcli works with the default configuration which is set to be for contracts on columbus-4. Help! It's a set of smart contracts — applications that run 24/7 on a . Smart Contract Cover. This tutorial uses the standard version. I'm just wonder how costly the ETH gas fees would be to setup that smart contract with the way gas fees are right now. There have been many cases in the past where a bug in a smart contract allowed hackers to drain the entire vault. bLuna. Check out the Smart Contracts. Anchor. There is smart contract risk in every protocol I mention, as well as stablecoin risk too. There might be a bug in the code that hackers can exploit. From being merely an alternative currency to fiat money, a whole financial system has developed known as Decentralized Finance (DeFi). (We will soon have an optional insurance coverage to remove this risk) . Liquidation. Apply. ANCHOR DASHBOARD . 38. High APY. Similar risks apply to custodial platforms . However, Anchor Protocol itself operates independently. Anchor Protocol is a Terra-based lending and borrowing protocol. BUSD De-Peg. . Just six months after its launch, Terra 's Anchor protocol surpassed $4 billion in total value locked (TVL). Terra's UST token is a synthetic stablecoin. Powered By GitBook. Custodian. Each network config should define how to connect to the Terra blockchain via LCD parameters. There have been many cases in the past where a bug in a smart contract allowed hackers to drain the entire vault. We offer insurance services for Anchor Protocol for around 2.5% which means that you will now be receiving a fixed-rate return on a stablecoin asset that is protected against hacks and bugs of . 3. Nothing is 100% safe. — Aylo (@alpha_pls) April 19, 2022. Finally, there are several good stablecoin farms out there. Apply. Solutions like Hop Protocol and Celer Network have proven popular by deploying Ethereum smart contracts that let users transfer assets from mainnet multiple Layer 1 and 2s. — Aylo (@alpha_pls) April 19, 2022. . Anchor uses the Web Assembly smart contract that enables the depositing and withdrawal of Terra tokens. BORROW. Key risk is in unwinding of the Anchor UST deposits which could potentially over-supply the UST market outside of the protocol. 5 parameters Safe Ratio, Bid Fee, Max Premium Rate, Partial Liquidation Threshold, and Valid Price Timeframeconstitute the control mechanism of liquidating collaterals. At the highest level, there is a risk of a cascading selloff. Smart contract risk: When you deposit money into Anchor Protocol, you're putting your money in a smart contract. The smart contract allows for trusted sources (in the current version, ChainLink price feeds) to post prices compared against an "anchor price" retrieved from Uniswap v2 markets. A popular strategy that many have used was the recursive lending strategy, this involved: 1. The Anchor protocol is a savings protocol launched by Seoul-based company Terraform Labs in March 2021. LUNA is the native cryptocurrency of the Terra ecosystem and with Anchor protocol, a borrowing and lending platform . Anchor Protocol (ANC) - Network Stats Security Safety is a top priority for Anchor Protocol users. It helps you to choose the best one according to your risk aversion and predictions. Then click on "Buy"/"Sell". Anchor Protocol (ANC) Price Anchor Protocol (ANC) is now trading around $1.34 as of Feb. 4, 2022. A post-execution resolution process determines loss restitution without affecting . From a risk perspective Solidly is a new protocol and there is a greater risk of smart contract bugs and hacks. Today, about $3.1 billion is borrowed by users on the other side of the . Increase Anchor protocol revenue and promote decentralization. While Anchor Protocol seems pretty secure (I've personally deposited UST on it), there's a higher smart contract risk (compared to a custodial platform) and because funds are stored on a non-custodial wallet and if your wallet is compromised, you have no remedies/recourse against a specific entity. Stable interest rates are achieved through rewards from multiple PoS blockchains. USDT/C/P all require a level of centralisation to function which poses a risk of human interference / censorship to the crypto market . The Terra-native savings protocol offers users 18-20% yields on stablecoins and has quickly positioned itself at the forefront of DeFi. There is additional third-party and smart contract risk if you are going to be using your liquid staking tokens to earn additional yield. Top financial technology investors recently committed $150m towards Terra's flourishing ecosystem of financial applications , which includes Anchor. Anchor is an open, permissionless savings protocol, meaning that any third-party application is free to connect and earn interest without restrictions. You can do this to provide cover against a smart contract failure, or if the UST loses its peg to the US Dollar. It is like the TV show 'Dragon's Den', but in this case the Council are the MARS token holders, and the Smart Contract means there is no deviation from the plan. The subsequent deposits are secured as long as they are over-collateralized. General. The annualization of this market is not determined by traditional supply and demand, but by coordinating rewards across . bombay-12. USDT De-Peg. Zilliqa (ZIL) -- up 21%. We are building an alternative risk sharing platform. ANC price is down -15.1% in the last 24 hours. . . You should conduct your own research, review, analyse and verify our content before relying on them. Anchor is a lending and borrowing protocol that provides crypto natives, fintech companies, and investors a stable high interest rate, offering up to 19.5% yield on stablecoin deposits, and much more! Trading is a highly risky . Anchor Protocol Risks. The entire objective here is to keep deposits safe by paying off all the debts that are in danger of failing to meet collateral requirements. Custodian Risk Cover. But, making decisions based on risks could be smart. When depositing into DeFi platforms like Tulip or Anchor protocol, there exists an additional risk known as smart contracts risk. The system can automatically protect the risks on Anchor and depegging events of UST via EthAnchor bridge. Key opportunity lies in native stables readily available to fuel ecosystem growth as most smart contract ecosystems are constrained by stables — a constraint uniquely minimized on the Terra ecosystem. INTRODUCTION Anchor is a two-token, algorithmic stablecoin pegged to the sustainable and predictable growth trend of the global economy. Product ID. While still slow at the time, the web app was presenting the correct numbers as the smart contracts on-chain were working correctly. Technical Writer (Anchor) US Remote Anchor. Anchor is a lending and borrowing protocol that provides crypto natives, fintech companies, and investors a stable high interest rate, offering up to 19.5% yield on stablecoin deposits, and much more! At a high level, the Anchor rate is subsidized by the cash flows (e.g., emissions + transaction fees) of PoS chains like Polkadot. All; Anchor; . On the simplest level, Anchor is designed to be the best savings account you ever had, boasting an incredible ~19.5% interest on deposited UST, paid in UST, not their governance token. 86. Liked. The network has undergone multiple audits by the cyber security firm, Cryptonics. UST De-Peg Cover. Savings via Anchor Protocol Investing with Mirror Protocol And it offers the following features: High, stable deposit yields Instant withdrawals Principal protection Also, Anchor offers a high yield with lower risk on the UST stable coin, which is Terra's stable coin. It also explains the potential risks and downside involved in these activities (even though it is a principal protected product!). It creates stable high-earning savings by accepting deposits of TerraUSD ( UST) from investors and rewarding them with high-yield and low-volatility interest rates. The Anchor Protocol uses the process of collateral liquidation to ensure that depositors' principal is safe and protected at all costs. However, Anchor Protocol itself operates independently. When depositing into DeFi platforms like Tulip or Anchor protocol, there exists an additional risk known as smart contracts risk. As of what I've heard this would cost you 2,5% APY per year, reducing your yield from 19,5% to an . Please understand this before you deposit your money. Purchase Smart Contract Cover. . The whole Anchor Protocol system currently holds $14.0 billion in deposited funds with $5.9 billion of collateral value. Anchor Protocol GitHub. Show this thread Anchor Protocol ‏ @anchor_protocol 2h 2 hours ago. Anchor protocol runs on a smart contract that as with any financial technology platform it may be vulnerable to cyber-attack and technology failures. Be covered for events like The DAO hack or Parity multi-sig wallet issues. Lighthouse DeFi (formerly Harpoon Protocol . Safe Risk Ratio is still 0.8? My thoughts on @anchor_protocol and the yield reserve depleting 1/ Just 2 . Binance. It provides UST depositors a 20% annual percentage return. You need to create a terra station wallet and connect it to the platform to start using it. DeFi Features. UST Smart Contract Risk This is always a risk in every blockchain that there might be a bug in the code that allows a hacker to steal funds. QED Oracles provide external collateral as a bond to their smart contract eliminating systemic risk. Name. In the crypto world, most protocols go through code audits to prevent this. These staking contracts pool together users' funds and distribute them to node . The Anchor code was initially developed by Terraform Labs (Terra). Borrower collateral (staking derivatives) generate rewards, which . Apply. Terra (LUNA) is a decentralized financial infrastructure and blockchain protocol that introduces some unique concepts and theories into the market. No one can actually hack your wallet, but if you click on a malicious link that downloads malware (be it a keylogger or something that can browse your files), it could get your seed phrase and . Adopting its key chain cryptography technology, the Internet Computer blockchain will integrate with Bitcoin such that smart contracts will be able to generate BTC addresses as . The network has undergone multiple audits by the cyber security firm, Cryptonics. CEX. Deployed Contracts. Singapore Remote Anchor. The project offers multiple stablecoin options that provide instant settlement. . . The protocol requires users to provide bAsset tokens as collateral before making a loan. Or, put differently, a bank run. The entire project has been created out of thin air and the value of UST is not backed in the same way that other stablecoins are. Additionally, the community can review the network's smart contracts and more to further vet the platform. To create bAssets from your staking tokens, . Terra's UST token is a synthetic stablecoin. The Modify Liquidation Parameterspoll type allows Anchor governance to calibrate parameter values that control the mechanics of collateral liquidation. Depositing bLUNA as collateral. Anchor smart contract risk. Terra is a smart contract enabled blockchain that has stablecoin functionality natively built into the ecosystem. It attracted a lot of attention with a promise of extremely high interest rates -- Anchor was paying almost. Lastly, as Sam on DeFi mentioned here, there is always the smart contract risk where hackers find loopholes . ANC tokens can be deposited to create new governance polls, which can be voted on by users that have staked ANC. However, there will always be this inherent risk. Specifically in crypto, the main things people are worried about for anchor are probably the following: Wallet scam/"hack". Posted prices can only deviate so much from the anchor price, the boundaries are well defined and known at the time of deployment as a percentage of the anchor price. Product Designer (Anchor) US Remote Anchor. Whenever you deposit your ETH on Lido Finance, it is sent to Lido's Staking Contracts. Along with fears of a possible UST-TerraLuna "death spiral", this stablecoin raises one more concern related to Anchor Protocol - a lending and borrowing protocol in the . Risk Harbor, on August 24th, has launched the automated cross-chain smart contract risk and depeg projection for UST and Anchor. Strategy One: Minimum Risk - Deposit UST in Anchor Protocol for . https://www.anchorprotocol.com. QED is a decentralised Oracle protocol with a robust economic model connecting multiple blockchains, smart contract platforms and off-chain data sources . 27, 2022) It is rare to witness this type of quick adoption within any other project from other ecosystems. Anchor Protocol. But, making decisions based on risks could be smart. So far, Anchor protocol has been audited (Results can be found here.) Liquidation Protocol which lets community members bid on at-risk collateral. 1. The network leverages a native token, stablecoin protocol, oracle system, and smart contracts to bring users programmable money for the internet. Technical Writer (Anchor) Singapore Remote Anchor. ANC is designed to capture a portion of Anchor's yield, allowing its value to scale linearly with Anchor's assets under management (AUM). This article will explain step-by-step how to use Anchor protocol to generate an annual yield of 20%. The Anchor Token (ANC) is Anchor Protocol's governance token. Anchor Protocol is a decentralized finance app that's built on the Terra (LUNA) network. Stake UST to earn nearly 20% on your holdings. Coverage. Zilliqa is a smart contract crypto that's outperformed much of the market this year, mostly on news of its metaverse launch. Lido Finance is a Liquid Self-Staking protocol that allows a user to stake their crypto assets on a Proof of Stake (PoS) blockchain network in a non-custodial way and simultaneously maintain the liquidity of their funds.. And to just end this, you can buy insurance for both smart contract risk and peg risk on Anchor Protocol (see picture below). Secure risk and potential bugs in smart contract code. (ETH) that is locked up in smart contracts. Technical QA Engineer (Anchor) US Remote Anchor. Binance Bridge Binance Bridge is a popular point of entry from Ethereum to Binance Smart Chain, an EVM-compatible blockchain developed by the world's largest crypto exchange. Anchor protocol is the golden gem of the Luna/Terra ecosystem. Smart Contract Risk. Anchor Protocol (ANC) Tokenomics The total token supply of ANC tokens is 1,000,000,000 and the current circulating supply is around 220,193,516.72 ANC. How to get the exchange rate between ust and aust on smart contract. Thus, always do your own research on the vulnerabilities the protocols smart contract could have. In the future we plan to offer crypto wallet cover, as well as . Please understand this before you deposit your money. Mainnet. High Dependency on Terra: Anchor is heavily dependent on Terra's money market and in particular its native token, LUNA. Is Anchor Protocol Secure? Miscellaneous. Money Market. 3. Also, it offers easier integrations, where its open-source SDK can be integrated, with a few lines of code, to any app that handles balances. The risk of your funds in the Anchor Protocol is dependent on 2 things: The safety of Anchor Protocol The safety of your Terra Station wallet In the event that the Anchor Protocol fails, it is possible for you to buy insurance. Last week, we announced the first-ever automated cross-chain smart contract risk and depeg protection for Anchor Protocol and UST for Terraform Labs driving 99% capacity in only 6 hours! . Testnet. YFI+CRV Smart Contract Cover for Yearn Finance (all vaults . Or 0.75 now? There are a variety of DeFi features you can use when you join the Anchor Protocol. The function of the Anchor liquidation protocol is to maintain deposit safety by paying off debts that are at risk of violating collateral requirements. Out of the 9,542 outstanding loan positions on Anchor, at least 800 loans were at risk of liquidation. Source: Anchor Protocol We love Anchor text because you can use it as a savings account with no minimum deposits and no KYC process. Or, put differently, a bank run. Since the protocol runs on code, there is a smart contract risk. Current pools include smart contract coverage for money markets and stablecoins, including Terra's Anchor Protocol and UST, which currently have the highest utilization ratio of any pool on Risk . 32. At the highest level, there is a risk of a cascading selloff. Via the . While Anchor Protocol seems pretty secure (I've personally deposited UST on it), there's a higher smart contract risk (compared to a custodial platform) and because funds are stored on a non-custodial wallet and if your wallet is compromised, you have no remedies/recourse against a specific entity. Anchor savings has no minimum deposits, account freezes, or signup requirements - it can be used by anyone in the world with . Deployed Contracts. . It's a set of smart contracts — applications that run 24/7 on a . However, this is all changing soon as Dfinity's Internet Computer protocol is creating the capabilities whereby smart contracts can be hosted on the Bitcoin network. These platforms rely on smart contracts to govern and automate their functions. Smart contract risk: We rely on Anchor Protocol to be able to generate interest on your deposits. GET A QUOTE. Risk F a cto r s a n d D iscla ime r s 3 5 www.theanchor.io 4 . DeFi Features . Specifying LCD settings. Anchor simulator is an app to help you easily estimates your earnings using differents strategies. To protect users who stake on the Anchor Protocol, Risk Harbor utilizes the EthAnchor bridge created by Terra to check the redeemability of aUST to UST. Displays the risk ratio of user . Terrausd ( UST ) from investors and rewarding them with high-yield and low-volatility rates! 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