Anchor, Terra’s popular Decentralized Financial Protocol (DeFi), is expanding to Polkadot’s Acala network.
1/ Following @AcalaNetwork‘s plans to join @wormholecryptoAcala & the Anchor Protocol community will be working together to grow the decentralized stablecoin space through a variety of integrations spanning the @terra_money & @Polkadot ecosystems!
Anchor
Acala pic.twitter.com/3pZVBiOY8e
— Anchor Protocol (@anchor_protocol) April 13, 2022
According to the statement, Polkadot’s Parachain Acala and Karura will expand Anchor’s collateral options for the UST stablecoin with Liquid DOT (LDOT) and Liquid KSM (LKSM).
The team is also planning to launch liquidity pools for Stablecoin UST and aUSD on Acala AUSD, the popular Acala product and decentralized stablecoin for the Polkadot ecosystem, which recently received $250 million worth of funding for its appeal. new applications
Acala will be integrated with Wormhole, a cross-chain bridge to allow users to link assets between the Polkadot and Terra ecosystems.
Anchor is the third-ranked savings and borrowing protocol by TVL value according to data from DeFiLlama, with a high yield of 19.5% on the protocol, making it the most popular DeFi protocol on Terra.
refer : LINK
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