Geek Culture
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Geek Culture

Trying Anchor Protocol — 18% APY on a Stablecoin

How does the DeFi application work? How is it able to pay high yields? What are the risks?

A screenshot of the Anchor protocol dashboard. You can see 431 invested UST with an expected return of 77 UST per year, which is almost 18% APY.
The Anchor protocol dashboard. Screenshot by author.

UPDATE: I’m sure you have seen the news about the collapse of UST and Luna, but if you haven’t, here is a quick update: UST has fallen off its 1 dollar peg and the whole project can be considered failed at this point. With the

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