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
-
MeRace | FunBall, the first metaverse competitive game of MeRace, will be online officially on January 20, 2022
Recently, the metaverse competitive ecological platform MeRace announced that FunBall, its first large-scale 3D metaverse football competitive game, will start closed beta test on Jan. 20 and will open its qualification to white list users. The game is expected to enter the internal test stage on Feb. 10 and will start public test stage on March 10. The upsurge belonging to FunBall has started. Professional teams research and develop There will be rich game content FunBall is the first metaverse concept game under MeRace, which is different from the relatively simple same concept game in the market. FunBall has made great efforts in game…
01/18/2022 -
Bitcoin Price Falls $8K to 3-Week Low, Altcoins Crash
Bitcoin nosedived to three-week lows early Sunday, puncturing the frenzied speculative bubble built into several alternative cryptocurrencies (altcoins) in the wake of Coinbase’s recent debut on Nasdaq. The biggest cryptocurrency by market value dropped from roughly $60,000 to $52,148 in 15 minutes during the Asian session, liquidating almost $4 billion worth of positions in the derivatives market, according to Messari’s Ryan Watkins. While the exact reason for the sudden crash is unknown, the market mood may have soured due to rumors that the U.S. Treasury is planning to charge several financial institutions for money laundering using…
04/18/2021 -
SYW Coin Launching Mainnet, Realizing Global Circulation
Recently, something great happened within blockchain network. SYW coin completed the deployment on the ETH public chain and successfully launched the mainnet. This means that SYW has successfully realized global circulation and can be transferred in any blockchain networks. From now on, global investors can freely purchase or sell SYW coins. As a blockchain 2.0 application network, ETH’s related ecology has attracted the attention of many blockchain users and cryptocurrency owners. Ethereum holds the vast majority ofr DeFi protocols and stable coins. Due to its characteristics of having stable network…
Business 05/26/2021 -
How Coinbase’s Wild Earnings Stack Up Against Normie Financial Firms
Based on earnings estimates announced Tuesday, nothing else in the financial services industry really compares to Coinbase right now. Wedded to the rising fortunes of cryptocurrencies themselves, soon-to-list Coinbase expects to make more money in the first quarter of this year than in all of 2020, and has seen an exponential rise in engaged customers. Coinbase’s revenue for the first three months of 2021 is expected to be $1.8 billion with earnings of about $800 million, compared with $1.3 billion in revenue and earnings of $322 million for all of 2020. Crypto is…
04/07/2021 -
Security Token Startup Founder Arrested on Sexual Assault Charges, Toronto Police Say
The founder of a security token startup has been arrested on charges of sexually assaulting a minor, Canadian authorities said. Trevor Koverko, former CEO of Polymath, was taken into custody on March 14 by Toronto police, a spokesperson for the department, Caroline de Kloet, told CoinDesk Wednesday. He has apparently deleted his Twitter. Koverko has been charged with “sexual interference with a person under 16 years of age” (Section 151 of Canada’s Criminal Code) and “sexual assault” (C.C. 271), said de Kloet. Chris Housser, Polymath’s other founder and interim CEO, said Koverko resigned from…
03/31/2021 -
A new track is taking shape Who can be the leader in password authentication
Two days ago, the breakdown of the Bill and Melinda Gates’ marital relationship and the impending division of their assets over a whopping $130 billion received a great deal of attention in the country. Bill Gates has publicly sung the praises of Bitcoin and his comments have been quoted and reposted by the insider media on numerous occasions, so the divorce news has created an equally big storm among the blockchain community. However, I am more concerned with issues that are of practical relevance to us than the news of…
05/09/2021 -
Tribute to IPFS What is the origin of the capital-hungry MVS Mining World Space?
Along with the rapid development of cloud computing, big data, Internet of Things, artificial intelligence and other information technology and the transformation of traditional industry digitalization, the volume of data shows geometric growth, the global data volume will grow from 16.1ZB in 2016 to 163ZB (about 180 trillion GB) in 2025, 5G online after the massive data explosion, to 2 trillion data storage market in 2018, for example. IBM predicts a 44-fold increase in the volume of stored data in 2022, which is 88 trillion market size. IPFS (Inter…
04/27/2021 -
Bitcoin Traders Brace for Record $6B in Options to Expire Friday
They call it “max pain” in the bitcoin options market: How to make one’s trading counterparty suffer the most. Although the largest cryptocurrency was changing hands Wednesday around $56,500, traders were handicapping the odds of a plunge to about $44,000 by Friday, when a record $6 billion of options contracts is set to expire. A drop to that price level would inflict “max pain” on buyers of options contracts, and it might be the most profitable price point for options sellers. It’s a remote risk, but not one to be discounted. The…
03/24/2021 -
The first year of the blockchain: Consensus Alliance enters the blockchain industry
Blockchain technology is derived from Bitcoin, as people know more about blockchain technology, the blockchain industry is also undergoing great changes. Whether at the level of capital or innovation, blockchain has always been a hot word in 2016. The technical characteristics of distributed general ledger, encryption algorithm and programmability based on blockchain are regarded as the cornerstone of future digital society. Blockchain is expected to lead human society to evolve from information Internet to value Internet. Even, this most subversive technology after the Internet is likely to set off…
Business 06/20/2016 -
Caitlin Long’s Avanti Raises $37M Ahead of Crypto Bank Launch
Crypto bank Avanti raised $37 million from Series A investors as it prepares to take its digital banking operations online. In a press release, parent company Avanti Financial Group said Coinbase Ventures, Binance.US, Morgan Creek Digital, Slow Ventures and the University of Wyoming Foundation, among others, participated in the funding round. Avanti has raised $44 million total, the group said. Avanti said it will put the funds toward meeting regulatory capital requirements and further invest in its engineering team. It gained special-purpose depository institution (SPDI) status in October, joining fellow Wyoming-based crypto…
03/25/2021