Anchor Community Update — December 2021
Anchor community,
Over the course of December, Anchor Protocol experienced meteoric growth surpassing the $10B mark in Total Value Locked (TVL) with over $2.6B in new $UST deposits. This milestone coincided with both $UST surpassing $10B in total market capitalization and Terra becoming the number 2 smart contract blockchain by TVL behind Ethereum. Importantly, the increase in deposits was coupled with sizable growth in borrow-side demand with MoM collateral increasing 83% from $3.1B to $5.67B.
Cross-Chain Anchor
Community discussions in December have brought interesting new ideas to the forefront such as cross-chain Anchor, which will enable users on EVM-compatible chains like Ethereum and Solana to natively borrow $UST without needing to bridge assets. Users will interact with a UI on Anchor similar to UI’s on their native chain — improving their borrowing experience. Consequently, Anchor can unlock a wave of new borrowers who, until this point, were dissuaded from borrowing on Anchor due to most of their assets living on their native chain. Capturing just 1% of Ethereum, Solana, Avalanche, Polygon, Polkadot, Cosmos, and Fantom’s borrowing demand would bring in nearly $6B in new collateral on Anchor.
Technical Developments
- bSOL: Audit in progress and testnet deployment complete.
- bATOM: Audit in progress and awaiting pStake’s testnet deployment.
- Immunefi’s Anchor bug bounty program is now live.
- Slippage control has been released for ANC Trade and bLUNA — Default for ANC Trade is 1% and 5% for bLUNA.
- Received 1st audit report on new oracle contract for Chainlink from Cryptonics.
New Features, Governance, & Collaboration
- Risk Harbor launches decentralized Ozone protection for aUST on Anchor for a 2% premium.
- ANC-UST LP incentives and ANC buybacks were redirected to Astroport following a successful community governance poll.
- bLUNA receives an upgrade which decentralizes LUNA staked across validators, automatically re-stakes rewards, and improves usage in liquidity pools and bridges.
- Anchor Protocol Twitter Space community discussions take place with community members and developers brainstorming ideas and answering questions.
Join the Community!
- Follow us on Twitter for updates.
- Join the discussion on Anchor Telegram.
- Read through the Anchor FAQ and Docs for more info.
