Two large-scale non-Ethereum good contracts ecosystems, Solana and Terra, grow to be nearer
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Anchor Protocol, one of many largest decentralized finance (DeFi) protocols and the core DeFi of the Terra (LUNA) ecosystem, teases a significant improve of its design.
Anchor Protocol (ANC) begins accepting bSOL with 60% LTV
In response to the official announcement shared by the Anchor Protocol (ANC) group, for the primary time ever, it began onboarding the Solana-based asset as a collateral alternative for its platform.
1/ It is the second you @solana bulls have been ready for…$bSOL is coming to Anchor as a brand new collateral sort! 🎉 Upon execution, customers will have the ability to borrow $UST in opposition to their $bSOL as much as 60% LTV.
— Anchor Protocol (@anchor_protocol) May 6, 2022
bSOL, an artificial asset derived from Solana’s core cryptocurrency SOL, can now be used as collateral to borrow TerraUSD (UST), Terra’s USD-pegged stablecoin.
The loan-to-value (LTV) ratio for the upcoming collateralization possibility will probably be set at 60%, in keeping with Anchor Protocol’s group assertion.
Adverts
As per the unique textual content of the proposal shared on Anchor Protocol’s discussion board, bSOL tokens will be obtained by staking SOL on the Lido Finance liquid staking module, wrapping the rewards and sending them to Terra (LUNA) by way of Wormhole multi-chain bridge ecosystem.
Terra’s (LUNA) heavyweight breaks into prime three DeFis
Nevertheless, the precise design and reward charge of the upcoming improve will probably be shared by the Anchor Protocol (ANC) group within the coming days.
Fanatics of Anchor Protocol (ANC) are optimistic concerning the upcoming addition to its protocol and are asking whether or not it’s doable to create a comparable instrument primarily based on Concord’s token, ONE.
Terra (LUNA) is the most important good contracts platform by TVL behind Ethereum (ETH). Largely, it must be attributed to the huge recognition of Anchor, which is the third largest DeFi protocol, solely surpassed by Lido Finance and Curve.
