Anchor drops anchor on Polkadot – a new stablecoin on Acala

Anchor drops anchor on Polkadot – Anchor is a protocol belonging to the family of the decentralized finance (DeFi). This is the origin of UST, a so-called algorithmic stablecoin issued by the protocol. After a meteoric rise on the Terra network, Anchor is now setting sail on the Polkadot ecosystem.

Anchor sets sail on Polkadot

Launched in March 2021, Anchor is the first protocol of the Terra blockchain in terms of TVL. Anchor has been able to attract investors by offering a return on its stablecoin UST, among the most advantageous in the ecosystem.

Approximately one month after its launch on the Avalanche blockchain, Anchor is multiplying partnerships. Thus, on April 13, Anchor announced the launching an instance of its protocol on the Polkadot ecosystem.

Partnership announcement – ​​Source: Twitter.

In practice, this will be Parachain Acala which will host Anchor on the Polkadot network. This is particularly known for being the origin of the stablecoin aUSD.

This integration of Anchor with Acala notably allows the addition of two new collaterals on Anchor, namely the Liquid DOT (LDOT) and the Liquid KSM (LKSM). These two assets can now be used to issue the UST stablecoin.

“The collaboration between Anchor and Acala represents an important step in unifying the Terra and Polkadot ecosystems to bring decentralized currency to the masses. Users of both channels will now have access to more liquidity and return opportunities than ever before. »

Announcing Anchor

Additionally, Acala and Anchor will deploy a “deep liquidity pool” for aUSD and UST, “serving as a gateway to the Polkadot ecosystem for $UST users.”

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Acala bets everything on stablecoins

This new partnership is part of Acala’s strategy to democratize the use of stablecoins.

Thus, at the end of March, Acala announced the launch of a $250 million fund to develop its aUSD stablecoin.

In practice, this fund will finance projects emerging on Polkadot, working in the ecosystem of decentralized finance and integrating the stablecoin aUSD.

However, the competition is already looking tough. Indeed, the Tether company behind the USDT stablecoin recently announced its launch on the Kusama network. This suggests a launch on the Polkadot network in the coming months.

The race for stablecoins is on, so follow the direction of the wind! What is your favourite? To help you choose, an exceptional offer awaits you: up to €200 in cryptocurrencies offered when you register on the Swissborg platform (affiliate link, for a minimum deposit of €50)

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