Anchor for “Normies”

How to earn a stable 20% APY without doing shit.

You know when you log into your Capital One or Bank of America account and see you made $.02 without doing anything? Imagine instead of making 2 cents, you made $2. Might it entice you if you made $20? Maybe $200? Well I have just the thing for you.

just look at how nice the logo looks.

“Wait, you’re telling me if I deposit $1,000,000 I can earn $200,000 per year? DAS A SCAMMAZ!”

Listen here you normie, I know damn well you don’t have a million dollars, because if you did you wouldn’t be reading this article with your broke ass. But in a nutshell, yes, you would be making $200,000 per year. Let me explain.

The reason you can get 20% APY (APY basically means compounding interest), is because of how loans are collateralized. If your a normie who just got into crypto because of Elon tweeting about Dogecoin, then your iq is most likely very low and you don’t understand how loans work/what “collateralized” means, but I'll dumb it down for you.

“wut is a collateralize?”

People deposit money — and then they take out loans. The money that they deposited makes around 26% “behind the scenes”, and you get 20% of that.

It’s really that simple.

If you want to learn more in depth about how this 26% is possible, then go read this thread by the mastermind behind it all.

read it. now.

“Wow, this anchor website looks better than my multi-billion dollar bank website…how can I take advantage of this APY?”

Take it slow, uneducated nascent one. I shall show you the ways.

The FIRST thing you need to do is learn about the “tokens” the system uses.

“wut is token? you mean like chuck e. cheese token?”

Anchor lives in the Terra Ecosystem (think of how you use Google to go on YouTube…unless you’re one of those weirdos who use Firefox or Bravo).

Anchor uses two tokens at the moment.

$UST + $LUNA

They’re basically Gon and Killua for you weebs out there. That’s all you really need to know.

$UST is a stable-coin (the price is always $1), and it’s what you deposit into anchor to earn 20%. $LUNA is like the cool ass token that can make you rich (and if you’re reading this article close to when it was written, you might want to take action soon).

“what is the point of this $LUNA you speak of? enlighten me.”

Say you want to mint some $UST. When you do that, the equivalent dollar amount in $LUNA gets burned.

Mint: buy, make.

Burn: delete, destroy.

Both tokens are needed to keep the system in check…you can’t have one without the other. I could get deeper into it and talk about the tokenomics and shit, but let’s be honest, you just want to earn 20% and you won’t understand all the technical talk.

But if you do want to learn more, read what’s below.

Overview

“i called my friend and he is worried about this $UST stable-coin. how does it stick to $1?”

It’s called arbitrage. Your ˢᵐᵒˡ brain might not know that term, but it’s basically like buying something somewhere and selling it somewhere else.

There are two forms of arbitrage present

Time-based Arbitrage: you buy $UST when it’s off the peg and wait for it to return.

And I think the other form is called Luna Arbitrage (don’t hate me for not knowing every piece of the system and all of the terms, I don’t work for them normie): You buy a bunch of $UST, mint $LUNA with it, then sell it on an exchange (according to Chinoman10, the admin who’s always in the discord).

luna is on coinbase now! peepookay.

“Ok, I have educated myself on the system…how can I deposit into anchor?”

It’s EZ.

KuCoin

• Download the Terra Station chrome extension and make a wallet.
• Make a KuCoin account and deposit $USDT (If you use Coinbase like me, buy $USDT and send it to your KuCoin account).
• Click onto the $USDT/$UST pair and sell your $USDT.
• Using the Terra Network, withdraw your $UST to your Terra Station wallet.
• deposit it into anchor.
• das it lul.

If you have trouble reading, here’s a step by step video.

“but i don’t want to make a kucoin account.”

Well lucky for you there are alternatives (you picky little shit).

Terra Bridge

• Use SushiSwap (fuck uniswap, sushi is better), and swap $ETH, $USDT or $USDC for $UST.
• Click on this.
• Send your $UST from your metamask wallet to your terra wallet.
• deposit it into anchor.
• ez lul.

“umm sir…i actually have some $USDC, but i don’t feel like swapping it. can i still use anchor protocol?”

Lucky for you, there is.

A new protocol just dropped called Orion.

If you don’t feel like holding the best stable-coin in existence (*cough* $UST *cough*), then you can use Orion.

this is how they do it.

smol note…you don’t earn 20%, you earn 13.5%.

“can i make my money work even more?”

Why of course you can. This is when Mirror comes into the picture.

To your normie brain, this might be a little too much, but I’ll give you a quick breakdown.

• After you deposit money into Anchor, you can go to Mirror and use the Anchor Money as collateral to mint mAssets (stocks, but crypto form).
• Now you can make money on Anchor and Mirror at the same time.
• ez clap.

In Conclusion

Terraform Labs is goin’ crazy and they are up next. Soon you’ll be able to use $ETH and $SOL as collateral on Anchor, some IBC shit is coming out which is cool, and new protocols are on the way (I’m personally waiting for Mars).

So.

Stop being broke. Go do this shit and retire yourself.

OH SHIT! IF I WIN THE BOUNTY IM BUYIN’ SOME LUNA!