Anchor, the flagship savings protocol of the Terra Luna (LUNA) ecosystem, has seen its reserves decline by 35.7% in the past seven days according to Terra.Engineer. Since the beginning of December, the amount of Terra USD Stablecoin (UST) held in the "terra1tmnqgvg567ypvsvk6rwsga3srp7e3lg6u0elp8" smart contract has declined by over 50%, with only $35.7 million remaining.As a … [Read more...] about Anchor protocol’s reserves head toward depletion due to lack of borrowing demand
Borrowing
Compound to offer cross-chain borrowing via Gateway
Decentralized finance lending protocol Compound has unveiled a new blockchain that will enable cross-chain collateral.It is the latest move to mitigate expensive operations on the Ethereum network and enable more interoperability in the DeFi ecosystem.The new Gateway chain, announced on Mar. 2, has been described as a cross-chain interest rate market that allows users to borrow … [Read more...] about Compound to offer cross-chain borrowing via Gateway