Anchor (ANC) continues massive growth.

https://www.anchorprotocol.com/#

The Anchor Token (ANC) is Anchor Protocol's governance token. ANC tokens can be deposited to create new governance polls, which can be voted on by users that have staked ANC.

ANC is designed to capture a portion of Anchor's yield, allowing its value to scale linearly with Anchor's assets under management (AUM). Anchor distributes protocol fees to ANC stakers pro-rata to their stake, benefitting stakers as adoption of Anchor increases -- stakers of ANC are incentivized to propose, discuss, and vote for proposals that further merit the protocol.

ANC tokens are also used as incentives to bootstrap borrow demand and provide initial deposit rate stability. The protocol distributes ANC tokens every block to stablecoin borrowers, proportional to the amount borrowed.

Anchor continues to grow in the most recent months with the biggest increase between March and April highly due to Terra increased demand. Valued at 16.14 billion locked in the Anchor protocol through Terra.

TVL in Anchor Protocol made substantial gains in April. The protocol saw a 7% spike from $15.15 billion on April 1 to more than $16 billion by the end of the month. 

The protocol also went interchain by launching on Avalanche in March 2022. This saw Anchor increase from a TVL of $11.28 billion on March 1 to an impressive $15.19 billion by the end of the month – a TVL increase of 34%. This cemented Anchor’s position as one of the protocols with the highest value locked with approx. having a total value locked in Avalanche at around 208.89 million.

Anchor Protocol managed to close in April with approximately $16.35 billion in TVL, according to Be[In]Crypto Research.

Anchor (ANC) has seen its TVL beat major competitors such as Maker (MKR), Convex Finance (CVX), Aave (AAVE), Uniswap (UNI), Compound (COMP), PancakeSwap (CAKE), Instadapp (INST), and SUNSwap (SUN). 

Aside from being deployed on Terra and Avalanche, Anchor Protocol will be launching on Polkadot’s DeFi Hub Acala Network which having the ability to use Parachains for cross operability inside their networks.

This partnership will see Anchor expand its collateral options for UST stablecoin with Liquid KSM (LSKM) and Liquid DOT (LDOT). 

Continuing to partner with some of the biggest networks in the industry will only solidify Anchor (ANC) foothold in the industry , alongside from what the numbers in recent growth have shown as well.