Binance, one of the one of the top five cryptocurrencies and leading cryptocurrency exchange, is giving away the Anchor Protocol (ANC) cryptocurrency built on the Terra (LUNA) blockchain within the Binance Launchpool system.
The users that are interested in receiving the cryptocurrency for free have to access the Launchpool page within the Earn tab of the Binance platform and start staking at least one of the three crypto assets that appear in the pool Binance USD (BUSD), Binance (BNB) or Terra (LUNA).
Once the staking token is selected, every hour, Binance calculates the user’s reward and distributes the corresponding crypto rewards. If you want to receive the ANC tokens in the system, simply click on the Claim button available after staking has started.
Furthermore, according to Binance, the Launchpool has no quota and at any time the user can redeem the remaining tokens in staking and stop the process of receiving ANC tokens.
The announcement on Binance’s website read: “Binance is excited to announce the 29th project on Binance Launchpool – Anchor Protocol (ANC), a savings protocol offering low-volatile yields on Terra stablecoin deposits. Users will be able to stake their BNB, LUNA and BUSD into separate pools to farm ANC tokens over 30 days, with farming starting from 2022-01-26 00:00 AM (UTC)”. The total BNB pool rewards are 1.400.000,0000 ANC and there will be a farming period of 30 days.
In case you were wondering, Anchor Protocol is a decentralized savings protocol that offers low volatility returns on deposits in the Earth stablecoin. The anchor rate is driven by a diversified stream of wagering rewards from leading PoS blockchains. Anchor savings has no minimum deposits, account freezes, or sign up requirements, so it can be used by anyone in the world with access to the internet.
The Anchor protocol defines a money market between a lender, who seeks to earn stable income on its stablecoins, and a borrower, who seeks to lend stablecoins on saleable assets. To lend stablecoins, the borrower locks up linked assets (bAssets) as collateral and lends stablecoins below the LTV rate defined by the protocol.
Besides, Anchor Protocol is an open and decentralized savings protocol, which means that any third-party application is free to connect and earn interest without restrictions.
