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There's really no doubt that one of the best and top performing coin when it comes to market value or price in the Terra ecosystem is Anchor Protocol (ANC). This was also proven by some crypto analyst and this is also something we can observe in the unfavourable or dip market situation for now as we can see the price or worth of Anchor Protocol (ANC) increasing or growing more rapidly making it among the top gainers in some top cryptocurrency exchanges.
Understanding Anchor Protocol
There's actually more to Anchor protocol other than just being a savings platform. Anchor is an open, permissionless savings protocol, meaning that any third-party application is free to connect and earn interest without obstructions. Anchor also has it's native token known as ANC which can be used for governance, staking, saving and lending activities. The native token (ANC) now worths more than $5 today in the crypto market space with a total supply of 1,000,000,000 ANC tokens.
As you can observe from the data generated using Flipsidecrypto as shown in the screenshot above, we can notice that there are more users now adopting Anchor protocol for lending and borrowing activities via Anchor market system from the month of September 2021 to the month February 2022. This has really shown a great increase in the number of users utilizing Anchor protocol for their day to day transactions.
From Anchor official website, it can also be observed that the total locked value was estimated to be around 13,898,234,002 UST with a yield reserve of about 466,455,447 UST as seen from the screenshot above.
Some Basic Terms Used in Anchor Protocol
In this part I'll be explaining some basic terms used in Anchor Protocol by selecting some of the major important terminologies you definitely need to know have knowledge about before making use of Anchor Protocol.
#1 LENDER
According to investopedia, a lender can be an individual, a public or private group, or a financial institution that makes funds available to a person or business with the expectation that the funds will be repaid. Repayment may include the payment of any interest or fees.
This concept also applies to Anchor protocol. In Anchor protocol lenders are known as depositors and they are known for lending Terra stablecoins to the Anchor money market. The deposited stablecoins are pooled and lent out to borrowers, with accrued interest pro-rata distributed to all lenders or depositors.
#2 BORROWER
We can define borrower as someone who collects an entity or item from a lender with a mutual agreement of returning back back the borrowed item or entity to the lender.
When it comes to Anchor Protocol, it's quite a bit different case here. Borrowers are known as people who create bAsset-collateralized loan positions to borrow Terra stablecoins from the Anchor money market released by the lenders. Borrowers also have access to liquidity without losing price exposure to their bAsset collateral. Borrowers are also recommended to keep a close eye on their loan position's Loan To Value ratio, as loans with Loan To Value ratios greater than the set maximum value are subjected to liquidation.
The good news is that Anchor protocol (ANC) tokens are also rewarded to borrowers as a means of incentives to reward the borrowers just like the way the lenders are also rewarded.
#3 ANCHOR STABLE COINS
Stablecoins are digital currencies which are mostly backed by assets known as fiat currencies. They are also designed to be pegged to either cryptocurrency, fiat currency or fiat money and sometimes exchange native coins.
Anchor UST (aUST) is another stable coin built on the Terra blockchain system. It is currently worth 1.205 terra UST with a total locked value of 13,898,234,002 UST. Anchor UST (aUST) can also be used during token swap on Anchor protocol making it easy to buy or swap tokens easily on the platform. Anchor UST
#4 ORACLE FEEDER
An Oracle Feeder is a Terra account that is responsible for providing an accurate and up-to-date price feed for bAsset collaterals. Fed-in price data is used to calculate the collateral value of a borrower, also used as the reference price in the Liquidation Contract.
Why is Anchor Protocol my Favourite Banking System?
When it comes to saving money most people in our world today may want to consider saving their money in banks while only few may consider other simple alternatives. As for me, I will rather save my income on Anchor Protocol than saving in banks.
The fact is that here in Africa, the price or value of commodities is always increasing every year while the amount of money you save in banks here are loosing it's intrinsic value because a time will come whereby you may not be able to afford buying some commodities just because you saved your money in bank.
What's the way forward?
Ever since I discovered that I can earn up to 20% of my income everyday just by saving using Anchor Protocol (ANC), my mind has been at ease and this has also increased my level of financial reasoning as a crypto enthusiast. The fact is that there's no bank in my country that can help you earn such high ROI or APR just by saving your money in such banks. Anchor protocol has been my favourite banking system and it will always be my favourite due to the great benefit and level of security attached to it.
Also another interesting part i love about Anchor Protocol is that i don't need to go to the bank to borrow money or loan since i can achieve all these in my comfort zone by making use of Anchor Protocol online without any stress.
Want to Start Earning 20% Daily Just By Saving On Anchor Protocol? Follow these Steps
You can earn a daily reward of 20% ROI just by saving your money using Anchor Protocol. This is very easy to accomplish and remember to call my attention via the comment section if you find any step difficult or ambiguous.
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- The first step is to access Anchor protocol website by visiting www.anchorprotocol.com on your browser and then you click on the toggle menu bar to access the Web App features.
- Click on the Web App to access more exciting features on Anchor Protocol. You will be redirected to https://app.anchorprotocol.com/
- Click on the icon or button to connect your Terra Station wallet with Anchor protocol
- Click on the allow button to proceed with the wallet connection
- As you can see from the above screenshot that my terra Station wallet has been connected with Anchor protocol.
- The next step is to click on the toggle menu on the right hand side to explore other features on Anchor Protocol.
- Click on the earn button to access the deposit, staking and other features on Anchor Protocol.
- Click on the deposit button
- Type the amount or quantity of UST you intend to deposit or save on Anchor Protocol
- Click on the sign button to proceed with the transaction
- Transaction processed
- Finally, you are good to go
- You can now start earning your daily 20% ROI on your savings using Anchor Protocol.
I'm quite sure this is extremely very simple to set up and remember to notify me whenever you are having issues or difficulties using Anchor Protocol.
Thank You for your time and I hope you have a great day ahead with love from 
@hardaeborla
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