Anchor Begins Countdown to Launch of Bank-Beating DeFi Savings Account
Anchor, the much-anticipated cryptocurrency savings account from the team at Terraform Labs, appears to be finally nearing a go-live date, based on a countdown clock on its website.
Under the plan announced last summer, Anchor would allow users to hold Terraform’s UST stablecoin, pegged to the U.S. dollar, and earn returns that consistently outpace the annual percentage yield (APY) of savings accounts at U.S. banks.
Anchor represents a significant new decentralized finance application independent of Ethereum (where most of the DeFi action takes place): a basic savings account that should be more than competitive with traditional banks.
Based on its own implementation of the Tendermint consensus mechanism, UST has a market cap of just under $1 billion, making it the fifth-largest stablecoin, according to CoinGecko. The token has spread from its native blockchain to Ethereum and Solana.
Anchor was originally slated for an October launch, but the team pushed that to late November. With the countdown showing on the site now, this could really be it.
Recommended News
-
Market Wrap: Bitcoin Rallies Near $58K, Stocks Soar to Record Highs
Bitcoin (BTC) trading around $57,572.97 as of 21:00 UTC (4 p.m. ET). Climbing 2.11% over the previous 24 hours. Bitcoin’s 24-hour range: $54,323.61-$57,632.81 (CoinDesk 20) BTC trades above its 10-hour and 50-hour averages on the hourly chart, a bullish signal for market technicians. bitcoin trading on CoinbaseSource: TradingView The bitcoin market is back in bull mode but for one key attribute, almost like a missing tooth: low trading volume. Bitcoin’s price on Thursday extended its winning streak to a seventh day as a renewed appetite for risk-taking in traditional markets sent U.S. stocks to…
03/11/2021 -
The Node: Beeple Sold Out. So What?
Not long after Mike Winkelmann, aka Beeple, received his $53 million in ether (ETH, +3.76%) (ETH) for selling a non-fungible token (NFT) through Christie’s (after fees), he reportedly converted the cryptocurrency into fiat. What was seen as a vote of confidence for this new technological medium – it was the third-largest art sale ever, right behind Jeff Koons’ “Rabbit” and David Hockney’s “Portrait of an Artist (Pool With Two Figures)” – might now be seen as a betrayal. He quite literally sold out. Beeple told The New Yorker on Monday, “I’m not remotely a crypto-purist. I was…
03/25/2021 -
1BNB of wool jacked to the hilt! “SHIB2 launches a free airdrop with a trade
A week ago to everyone recommended SHIBa2 lnu (shib2) from the very beginning of that day to the highest point up nearly 10 times, but many people did not get on board, the people on board to pick up the price is also more than 0.0000007 or so, most people have eaten a few times the profit and out of the gold! At press time, SHIB2 rose about 3 times, the highest point of 0.000003200, and then rushed back down! But there are still opportunities for those who did not…
05/20/2021 -
Billionaire Investor Howard Marks Warming to Bitcoin
Howard Marks, co-founder of alternative investment manager Oaktree Capital, says he has reconsidered his previous “dismissive” stance on bitcoin (BTC, +3.28%). The investor, who is worth $2.1 billion according to Forbes, previously said in a 2017 memo that cryptocurrency was “an unfounded fad.” The comment was “a knee-jerk reaction without information,” Marks conceded in a video interview with the Korea Economic Daily on Monday. While he’d previously considered bitcoin to have no intrinsic value, he said that “there are plenty of things that people want and value highly that have no intrinsic value. How about a…
Business 03/16/2021 -
Fintoch: Alleviating DeFi Onboarding Barriers for TradFi
We are no doubt weathering the harshest “winter” in crypto, with CoinGecko reporting a 74.6% DeFi market crash to $36 billion in Q2, 2022. What’s worse is that DeFi related hack is exacerbating this downfall. As REKT Database shown, DeFi related exploits surged significantly in May. Despite the low morale in the crypto market, true believers continue to build in the bear market and TradFi investors are still eager to get a taste of the “hearsay” high yielding DeFi protocols. Fintoch Investment platform, the key product of Morgan DF Fintoch LLC, enters the…
10/13/2022 -
Mix of Old, Wrong and Dubious ‘News’ Scares Rookie Investors, Fuels Crypto Selloff
Call it the recipe for perfect market meltdown: Take a dubious tweet about an unconfirmed U.S. investigation of financial institutions using crypto to launder money, a report that doesn’t appear to have come from Bloomberg, Dow Jones, Reuters or any other reputable news service. Take that tweet and sprinkle it throughout the cryptoverse. Shake vigorously. Add a new CNBC tweet about a month-old Reuters report regarding a coming crypto ban in India. Let marinate until fully absorbed, about 30 minutes. Next fold in several (now-deleted) tweets that incorrectly implied that the Coinbase CEO had sold…
04/18/2021 -
Coinbase CEO Sold $291.8M in Shares on Opening Day
Coinbase insiders and early investors sold about $5 billion in shares in total during the leading cryptocurrency exchange’s first day of trading on the Nasdaq earlier this week, according to series of filings made Friday with the U.S. Securities and Exchange Commission (SEC). CEO Brian Armstrong sold 749,999 shares in three batches at prices ranging from $381 to $410.40 per for total proceeds of $291.8 million, according to one filing. While a Coinbase representative declined to comment due to the company being in a so-called “quiet period,” based on filings made before the listing, it…
04/18/2021 -
NEWXX will jointly release NFT with a well-known design DAO.Contribute to the ecologically sound development
According to the official news, NEWXX Foundation will jointly issue NFT with famous design DAO in limited quantity, and users who get NXX-NFT can collect, auction or pledge NFT to get more NXX revenue. NEWXX Foundation and its partners around the world have been adhering to the core values of value investment and long-term and robust development strategy. In the period of crypto asset downturn and turbulence, the platform operates a robust and unique non-loss mining mechanism through its core technology to empower more users to maintain their mainstream crypto…
07/05/2022 -
Deutsche Bank Says 52% of Its Investors Expect Bitcoin Below $60K in 12 Months
Deutsche Bank’s investor clients mostly see limited upside in bitcoin (BTC) this year and expect a decline towards $20,000-$40,000 in 12 months. Those are the highlights of a monthly market survey conducted by the German lender March 18-22 of 520 market professionals around the world. Bitcoin has been trading in a sideways range over the past week after failing to sustain an all-time-high around $61,000 reached earlier in the month. The 12-month BTC price forecast is more evenly distributed versus the three-month forecast, though a majority (52%) of respondents see prices under…
03/24/2021 -
Much Wow: Slim Jim Has a Dogecoin Strategy. News of It Sends DOGE to a New ATH
Smoked meat stick vendor Slim Jim has an actual official dogecoin (DOGE, +97.74%) strategy. And it appears to be working, big time. News of this tie-up, which CoinDesk broke earlier Thursday, sent the price of DOGE to a new record. The social media-savvy snack food saw its Twitter follower count increase 160% and tweet impressions soar to the moon (35 million impressions in 25 days) after it began engaging in Shiba Inu meme coin content last quarter, according to the CEO of parent company Conagra Brands. “We’ve seen a marked uptick in audience…
04/15/2021