Walkthrough for staking UST on Anchor in order to earn 20% APY.
Anchor is a savings protocol that offers low-volatility yields on Terra’s UST stablecoin deposits.
This is achieved thanks to a diversified stream of staking rewards from major proof-of-stake blockchains, making it much more stable than money market interest rates.
After previously going over how to buy UST on Cub Finance and Bridge to terra, let’s now move on to how to stake UST on Anchor itself.
This section of our Terra (LUNA) guide walks you through the steps required to quickly and easily earn 20% on staked UST stablecoins.
1. Stake UST on Anchor
Go to the Anchor Protocol web app and click the earn tab.
Click the deposit button.
Key in the amount of UST you want to stake and hit proceed.
2. View your staked UST
On the Anchor earn page, you will now see your staked UST.
You can see the 20% interest rate and flick between your expected daily, weekly, monthly and yearly returns.
Final thoughts on staking UST on Anchor
Earning 20% on stables in this environment is simply unheard of.
Not to mention the fact that thanks to LUNA and UST’s algorithmic stablecoin design, the project is well outside the US regulator’s jurisdiction.
Having now walked through how to stake UST on Anchor, go and check out our full beginners guide to Terra (LUNA) and learn more.
With the project’s Columbus 5 upgrade just around the corner, the Terra (LUNA) ecosystem is set to explode with activity.
Best of probabilities to you.
Direct from the desk of Dane Williams.
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