The move is designed to maintain the stablecoin savings protocol’s lucrative yield of approximately 20% per annum.
In a tweet published early Friday, Do Kwon, founder of Terraform Labs, the entity developing the Terra Luna (LUNA) and Terra USD (UST) stablecoin ecosystem, announced the injection of 450 million UST ($450 million) into the Anchor protocol’s reserves. The proposal passed a vote by the Luna Foundation Guard on Feb.10. Anchor serves as the flagship savings protocol of the Terra ecosystem, offering users of up to 20% interest per annum on their UST deposits, paid for by borrowers.Funded. pic.twitter.com/NLvnSa0bBu— Do Kwon (@stablekwon) February 18, 2022
The protocol’s reserves had recently dwindled to as low as $6.56 million as there wasn’t enough borrowing demand to keep up with an influx of lenders. When such an imbalance occurs, the protocol must tap into its reserves in order to pay lenders the promised yi
We współpracy z: https://cointelegraph.com/news/terra-injects-450m-ust-into-anchor-reserve-days-before-protocol-depletion
