Anchor Protocol is Dead
With the collapse of UST and Luna, Anchor Protocol is dead. I once viewed this protocol as the ultimate savings account, which was paying out a whopping 20% APY on deposited funds. And it seemed to be a safe bet too, since UST was after-all a stablecoin pegged to the USD. Within a matter of days, Luna and UST plummeted into an unrecoverable death spiral, wiping out the savings of thousands of people, including much of the money I had invested in crypto. With Luna 2.0 set to replace Luna classic and UST dying an unceremonious death it seems that the anchor protocol will be no more. And it is yet to be seen what will become of the new Luna 2.0 ecosystem. Will developers migrate over? Will investors? Only time will tell.
What are your thoughts on the whole Luna/UST catastrophe? Leave a comment below.
