keyTango introduces a new L2 program: $UST Staking on Anchor Protocol. Learn how to join the program , it’s SUPER easy!
keyTango is pleased to introduce a new program for $UST Staking on Anchor Protocol, which is part of Terra’s ecosystem, on Cosmos. This integration will provide Ethereum based DeFi users with unprecedented easy $UST Staking, currently yielding an attractive 19.5% APY. All you need in order to participate is $UST/$USDC and MetaMask. You can find the live pool now here: https://www.keytango.io/invest
What is so special about this program?
Anchor protocol is a savings protocol offering low-volatile yields on Terra stablecoin deposits. Anchor protocol defines a money market between a lender, looking to earn stable yields on their stablecoins, and a borrower, looking to borrow stablecoins on stakeable assets.
Currently, in order to stake $UST on Anchor users must bridge funds from Ethereum to Cosmos, install Keplr wallet, purchase $UST, connect Keplr to Anchor’s WebApp and deposit funds. The withdrawal of funds is similar in reverse order.
keyTango built a “shortcut” for users wishing to stake $UST on Anchor from the Ethereum network (providing liquidity to the ‘EARN’ protocol). Our UX allows users easy participation with one click, through a smart contract that performs all the steps required automatically.
Moreover, this program is the first of a set of planned two, aimed at providing easier access from the Ethereum network to Anchor’s EARN and BORROW protocols. We reward early users with the following:
- First 5 users to join (with >$1000 USD deposit) will be rewarded with $200 USD (Given in $TANGO to depositing wallet address)
- First 100 users to join this program (with >$1000 USD deposit) will be registered (by wallet address) as TANGO #LUNAtics users: granting them early access to the future ‘BORROW’ product.
How does it work?
- Go to keyTango’s $UST Staking program: https://www.keytango.io/anchor-ust-staking
- Insert the amount of $UST you wish to stake. Or, If you wish to deposit $USDC instead, replace it with $UST
- Click ‘Deposit’ and that’s it! We’re done.
Flexible program: No time lock required & two stable assets selection
This program offers users more flexibility with no lock period requirement and the ability to choose between $UST or $USDC as deposited assets.
About keyTango
keyTango provides the finest DeFi experience.
Using our unmatched UX, our users gain real-world value in each step of the investment process: We’re integrating the most lucrative, yet complicated DeFi products into our platform, and through automation and aggregation, saving you the headache of all the technical steps that these products usually require.
We believe that DeFi should be accessible to everyone! In order to make it so, we’re laser focused on making the DeFi experience as simple, transparent, informative and valuable as can be, for all users’ experience levels.
About Anchor Protocol
Anchor is a savings protocol offering low-volatile yields on Terra stablecoin deposits. The Anchor rate is powered by a diversified stream of staking rewards from major proof-of-stake blockchains, and therefore can be expected to be much more stable than money market interest rates.
The Anchor protocol defines a money market between a lender, looking to earn stable yields on their stablecoins, and a borrower, looking to borrow stablecoins on stakeable assets. To borrow stablecoins, the borrower locks up Bonded Assets (bAssets) as collateral, and borrows stablecoins below the protocol-defined LTV ratio. The diversified stream of staking rewards accruing to the global pool of collateral then gets converted to stablecoin, and then conferred to the lender in the form of a stable yield.
About $UST
TerraUSD (UST) is the decentralized and algorithmic stablecoin of the Terra blockchain. It is a scalable, yield-bearing coin that is value-pegged to the US Dollar. TerraUSD was created to deliver value to the Terra community and offer a scalable solution for DeFi amid severe scalability problems faced by other stablecoin leaders like Dai. Thus, TerraUSD promises users a higher level of scalability, interest rate accuracy, and interchain usage.
