Prior to sAVAX becoming a collateral on Anchor we now are seeing Avalanche users able to have access to Anchor protocol. This means users can directly invest their UST in Avalanche chain on Anchor for the 19.5% APY yield.
Streamline Chains on Anchor
The option to go between Terra chain and Avalanche is very user friendly and clean. What will be interesting to see is if Anchor will also link to other chains to allow those chains to use UST as stable coin in their chains.
This should not have come as a surprise as Avalanche in end of 2021 had declared UST would become the chain's main stable coin. What is surprising is the speed of updating Anchor to be able to be accessible for users of Avalanche.
This means any user on Avalanche have access to all that Anchor has to offer. From using Luna, bLuna, ETH, bETH, to native token ANC these are all possible.
Conclusions
Simultaneously a vote for sAVAX to become a collateral asset is coming to fruition. There is only one day left until the voting closes and currently it has enough votes to pass.
From experience of past votes and updates it is very possible that on the 19th or 20th sAVAX will become live on Anchor.
None of what I write is financial advice. It is for entertainment purposes only. Thanks for reading!
LeoFinance = Financial Blog
LeoDex = Hive trading exchange for Secondary Tokens, Low 0.25% fees for deposits and withdraws.
HiveStats = Hive stats per user
LeoPedia = Informative content related to anything about Crypto and how to make financial gains in crypto!
CubDefi = LEO Finance's Defi with CUB Token