(https://support.bityard.com/hc/article_attachments/900006916586/mceclip0.png)
Anchor, the much-anticipated cryptocurrency savings account of the Terraform Labs team, appears to be finally approaching a go-live date based on the countdown clock on its website.
Under the plan announced last summer, Anchor would allow users to hold Terraform's UST stablecoin, stick to the U.S. dollar, and earn returns that consistently outperform the annual percentage return (APY) of savings accounts in U.S. banks.
Anchor represents a significant new decentralized financial application independent of Ethereum (where most of the DeFi action takes place): a basic savings account that should be more than competitive with traditional banks.
Based on its own implementation of the Tendermint Consensus Mechanism, UST has a market cap of just under $1 billion, making it the fifth largest stablecoin, according to CoinGecko. The token has spread to Ethereum and Solana from its native blockchain.
Anchor was originally scheduled to launch in October, but the team pushed that to the end of November. With the countdown showing on the site now, this could really be it.
Source: Bityard (https://support.bityard.com/hc/en-us/articles/900004928746-Blockchain-News-Begins-of-Anchor-Bank-Launch-Countdown-Beating-DeFi-Savings-Account)