Anchor Protocol, one of the largest decentralized financial (DeFi) protocols on Terra’s core DeFi ecosystem (LUNA), has released Solana’s bSOL for use as collateral on its platform.
According to the official announcement shared by the Anchor Protocol (ANC) team, it is the first time that Solana-based assets will be deployed as collateral for their platform.
bSOL, a synthetic asset derived from Solana’s flagship cryptocurrency SOL, will be able to collateral to borrow TerraUSD (UST), Terra’s USD-pegged stablecoin.
The loan-to-value (LTV) ratio for collateral is set at 60%, according to the Anchor Protocol team statement.
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