You can now trade Anchor Protocol (ANC) — a first-to-list for US exchanges — and Arweave (AR) against USD on Okcoin. Here’s what the two tokens are all about, in simple terms. 🤓
- What? You can now deposit, withdraw, and trade Arweave (AR) and Anchor (ANC) against USD on Okcoin.
- Who? All Okcoin customers including those in the United States, except for residents of the EU, the UK, Singapore, and Brunei.
- When? Deposit, withdrawal, and trading are live as of February 8, 2022.
What’s the Anchor Protocol (ANC) token?
ANC is the governance token of the Anchor Protocol. Anchor is a decentralized finance (DeFi) protocol offering lending services against Terra stablecoin deposits. The rates Anchor offers are powered by a bundle of staking rewards from major DeFi platforms, making them usually much more stable than traditional money market interest rates.
The governance feature includes:
- depositing to create governance polls
- staking ANC to vote on these polls
Okcoin is the first US regulated exchange to offer ANC against USD. 🔥
What’s the Arweave (AR) token?
AR is the token of Arweave, a protocol designed to provide decentralized, scalable, and permanent on-chain data storage. A bit like how some people call Ethereum the world’s computer, Arweave can be thought of as the world’s hard drive. The AR token is the main payment and utility token on Arweave but it can also be used to purchase cloud storage space. There is thus an AR price per GB of data stored on the blockchain. 🧠