DeFi Land x Anchor Protocol?
Introduction
With a multi-chain world becoming seemingly more imminent, integrating with other chains is one of the best ways to quickly bring benefits to both sides. Since the start of the year, both the Terra and Solana community has exploded and enjoyed tremendous growth in terms of price, development, and community. But to this day there is still limited interaction between both communities.
In this article, we propose integrating Anchor Protocol with one of the most exciting “play-to-earn” games being developed on Solana: DeFi Land.
Context
DeFi Land
The recent explosion of Axie Infinity has given the “play-to-earn” model legitimacy among developing games in the industry. DeFi Land is quickly following suit in that model and providing a unique take on bringing DeFi mainstream.
DeFi Land plans to gamify decentralized finance by creating a fun and interactive way for non-crypto users to get on board. Through the game, users will learn basic DeFi skills such as “staking”, “swapping”, “yield farming”, and “providing liquidity”. The beauty about this game is non-crypto users will be able to do all the basic DeFi activities without actually interacting with the protocols themselves. It is able to do this because it provides an interactive front end that makes the DeFi process a lot more appealing and approachable.
It recently also placed second in the Solana Hackathon, which consisted of more than 350 projects. This shows tremendous promise for DeFi Land considering the number of other projects being submitted in the hackathon.
Anchor Protocol
Anchor is a savings protocol that enables a high and stable yield for its depositors. It is quickly growing into the biggest protocol (in terms of TVL) in the Terra ecosystem with more than $550M being deposited in under half a year from launch.
With its slogan being “stripe for savings”, Anchor like DeFi Land, aims to bring DeFi to mainstream users by making it easy to integrate with existing fintech apps, neobanks, and other financial platforms. It is able to do this through its own “Anchor Earn SDK”, which packages Anchor into a few lines of code and allows anyone to access the yield of Anchor.
To this date Anchor already has plans to integrate with Yotta; an upcoming neobank that gamify savings.
Benefits
DeFi Land
Integrating Anchor’s yield with DeFi Land can be beneficial for both parties. Starting with DeFi Land.
By integrating with Anchor, DeFi Land will immediately pique the interest of the quickly growing Terra community. This provides DeFi Land with a larger market of players that are not only constrained to the Solana community but now includes the Terra community as well.
Another benefit of integrating with Anchor is it can serve as a bridge to introduce Solana dApps to the Terra community. With the Terra community growing in number, this can be a chance for Solana to capture some of that value outside of its own chain.
Integrating with Anchor can also provide a unique element to the game by introducing a “stable yield”. This gives players another option of earning yield that is completely different from the wildly fluctuating yields in DeFi.
The stable yield from Anchor could potentially serve as the “bank’s yield” in the game, which is an object (Bank) the DeFi Land team already has plans of bringing in v2.
The last benefit integrating with Anchor could bring is the introduction of UST as a stablecoin. With USDC already planned to be in the game, having another option in UST can help mitigate stablecoin risks. This is because UST is a decentralized stablecoin compared to a centralized stablecoin in USDC. Having a decentralized option ensures the long-term success of DeFi Land, even in the possibility of future risks regarding the regulation of USDC.
Anchor Protocol
The benefits of having DeFi Land integrating with Anchor’s yield are self-explanatory. Having another avenue where users can access Anchor’s yield, benefits both Anchor and ultimately Terra by driving more adoption for UST.
Another benefit of this integration is it can serve as a bridge for the Solana community to be introduced with various other protocols in the Terra ecosystem. Furthermore, it can also act as an example for other protocols in the future on what a partnership with Solana’s dApps could look like.
How feasible is this?
With the DeFi Land team already having plans of making the game multi-chain, integrating with Anchor Protocol seems to be the most logical way of working with the Terra ecosystem.
There have also been hints given by the DeFi Land team about integrating with Terra in the future. In its article introducing DeFi Land, it talked about adding “Terra lands” in v2, so the possibility of having Anchor’s yield in the game might not be far off at all.
Link to article: https://defiland.medium.com/introducing-defi-land-gamified-decentralized-finance-9d06c88d6369
Why stop there?
Integrating with Anchor Protocol could be the start of a wonderful relationship between DeFi Land and the Terra ecosystem. Further integrations could include Mirror Protocol, which can bring synthetic assets to the game.
Imagine a “stock exchange” in DeFi Land where players will be able to trade real assets such as mAAPL, mTSLA, mAMC, and many more. This could provide a unique experience to the game that cannot be replicated in the traditional gaming industry. We will truly be revolutionizing what it means to be a game if this was the case.
Another integration with the Terra ecosystem could involve launching the DeFi Land token on Pylon Gateway. Pylon’s unique ability to offer investors a “lossless” investment could be something of interest to fans of DeFi Land. By launching on Pylon it can also serve as a “marketing tactic” where it draws in players from the Terra community.
Conclusion
As you can see, the integration of Anchor Protocol with DeFi Land can bring tremendous benefits to both sides. Further on it will connect both thriving communities with future integrations among different protocols, bringing both communities closer.
So what say you DeFi Land and Anchor Protocol?
