Cryptoknowmics 2022-03-26 19:00:12

4 Cryptocurrency Facts That Will Surprise You

The 24/7 crypto space is full of stories, rewards, and surprises for its users. Here are some crisp yet amazing facts collected during the third week of March 2022. The aim of this article is to inform Cryptoknowmics’ readers about key happenings in the unregulated cryptocurrency arena. So, always be cautious while investing in virtual currencies and do your own research before relying on any information. 1. How are Terra (LUNA), Anchor Protocol, and Bitcoin all connected? According to Terraform Labs CEO Do Kwon, Luna Foundation Guard has raised $2.2 billion for a Bitcoin reserve. This transaction will include Terra’s long-term aspirations to accumulate a $10 billion BTC reserve for UST. Terra-Anchor APYs vs. Traditional savings accounts APYs and the role of BTC Terra is a Proof-of-Stake (PoS) blockchain with a protocol that prioritizes stablecoins. Burn the native token $LUNA in exchange for $UST; arbitrage the money supply and receive rewards. Terra’s primary DeFi application, Anchor, pay a 20 percent annual percentage yield (APY) on dollar-denominated stablecoin deposits. This is in a market where traditional banks are offering savings accounts with APYs of less than 1%. Anchor accomplishes this in a number of ways, including bAsset yield, yield reserve, and borrowing costs. Despite this, they only account for 41% of the cash needed to service the yield. So, how a significant APY is achieved? This is where buying Bitcoin co...

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