Terra’s Largest DeFi Protocol Anchor Changes ANC Airdrop Rules: Details

AnalysisTerra's Largest DeFi Protocol Anchor Changes ANC Airdrop Rules:...



Vladislav Sopov

Last Anchor Protocol (ANC) airdrop to go live next week. What is the motivation behind such a radical decision?

Contents

The second largest DeFi protocol by total value of assets locked (TVL) is going to reform the airdropĀ policy. This decision was approved by a community referendum on Anchor’s forum.

Anchor Protocol stops ANC airdrops: Here’s why

As per the statement shared by the team of Terra-based DeFi ecosystem Anchor Protocol (ANC), the last airdrop of its native token, ANC, goes to Terra (LUNA) stakers.

On April 12, 2022, it was proposed to stop the airdrop program as its “increased emissions”Ā becomeĀ more and more dangerous for the stability of ANC token.

A total of 12.83% of Anchor Protocol (ANC) enthusiasts took part in the referendum on this proposition, while a quorum was set at 10%. Ninety-eight point five percent (98.5%) of voters supported the proposal.

Ads

As such, the airdrop program is stopped for good. Those who have unclaimed tokens from previous airdrops should claim them before June 1, 2022.

Community expresses mixed feelings

The remaining 74,070,000 ANC in the Anchor Airdrop contract will be transferred to Anchor Protocol’s community pool.

Anchor community members on the protocol’s forum welcome the new regulation, while Twitter followers of Anchor’s main account lack consensus about its role.

Some of them never claimed ANC, while others admitted that the payouts were too small. For instance, a $0.55 per week bonus was allocated to a user with 100 LUNA ($10,000 in equivalent) staked.

As covered by U.Today previously, Anchor Protocol (ANC) is the largest and most popular decentralized financeĀ protocol of the Terra (LUNA) ecosystem.

Allowing users to stake UST stablecoin with 19.5%Ā in APY, it amassed more than $15.8 billion in TVL.

ANC token’s price is changing hands at $2.16 on major spot exchanges, upĀ 0.2%Ā in the last 24 hours.



Learn more

Latest news

Ripple Scores Big Win as Judge Orders SEC to Turn Over Hinman Documents

Alex Dovbnya U.S. District Court Judge Analisa Torres has rejected the SECā€™s latest effort to keep Hinman documents under...

Bitcoin Miner Rhodium Plans to List on Nasdaq through Reverse Merger

Bitcoin miner Rhodium Enterprises is planning to list on Nasdaq under the ticker "RHDM" through a reverse merger...

Celsius Creditors Move to Subpoena Lending Firm Equities First

Celsius said that Equities First still owes its $439 million. Learn more

Cardano Creator Challenges IOTA Co-Founder Dominik Schiener to Debate: Details

Cardano founderĀ Charles Hoskinson has urged the IOTA co-founder and chairman of the IOTA Foundation,Ā Dominik Schiener, to a debate....

LUNC Trading Volume Falls Double-Digits, Is Binance Burning Hype Over?

Gamza Khanzadaev LUNC price and trading volume fall days after Binance burning announcement Luna Classic's (LUNC) trading volume is down...

Must read

Ripple Scores Big Win as Judge Orders SEC to Turn Over Hinman Documents

Alex Dovbnya U.S. District Court Judge Analisa Torres has...

Bitcoin Miner Rhodium Plans to List on Nasdaq through Reverse Merger

Bitcoin miner Rhodium Enterprises is planning to list...

You might also likeRELATED
Recommended to you