UST adoption is getting massive, and a 20% APY on stable coins is the main reason. Put your savings to work!
With so many pumps and dumps on the crypto market, a popular choice for many people is holding stable coins. And besides holding, if you put it to work you will be able to get a passive income, that goal that will let us live the life while earning money.
Now, if you’re in Defi (Decentralized Finance) for a while, you may know that stable coin farms usually have a low APY. So we will usually find rates between 2 and 10% in some cases. That’s until Anchor Protocol was released.
What’s Anchor Protocol exactly?
Anchor is a savings protocol that offers low volatility returns on UST deposits, Terra’s stable coin. It has its own governance token, $ANC, and you can add liquidity to it. You can also lend/borrow UST using bonded Luna and bonded Ethereum as collateral, or hold them on your wallet and earn a 7–9% APY on UST.
What’s UST? That’s not USDT, right?
Exactly, UST stands for Terra USD and it's not tether, but Terra’s stable coin. Although USDT is a stable coin as well -both are pegged to USD- there’s an important difference. UST is an algorithmic stable coin. When a new UST token is…
