Last Anchor Protocol (ANC) airdrop to go live next week. What is the motivation behind such a radical decision?
The second-largest DeFi protocol by total value of locked assets (TVL) will reform the airdrop policy. This decision was approved by a community referendum on the Anchor forum.
Anchor Protocol stops ANC airdrops: Here’s why
As per the statement shared by the team of Terra-based DeFi ecosystem Anchor Protocol (ANC), the last airdrop of its native token, ANC, goes to Terra (LUNA) stakers.
On April 12, 2022, it was proposed to halt the airdrop program as its “increased emissions” became increasingly dangerous to the stability of the ANC token.
A total of 12.83% of Anchor Protocol (ANC) enthusiasts took part in the referendum on this proposition, while a quorum was set at 10%. Ninety-eight point five percent (98.5%) of voters supported the proposal.
As such, the airdrop program is permanently halted. Those with unclaimed tokens from previous airdrops must claim them by June 1, 2022.
Community expresses mixed feelings
The remaining 74,070,000 ANC in the Anchor Airdrop contract will be transferred to Anchor Protocol’s community pool.
Members of the Anchor community on the protocol forum welcome the new rules, while Twitter followers on the main Anchor account disagree on its role.
Some of them never claimed ANC, while others admitted that the payouts were too small. For instance, a $0.55 per week bonus was allocated to a user with 100 LUNA ($10,000 in equivalent) staked.
As previously reported by U.Today, Anchor Protocol (ANC) is the largest and most popular decentralized finance protocol in the Terra (LUNA) ecosystem.
Allowing users to stake UST stablecoin with 19.5% in APY, it amassed more than $15.8 billion in TVL.
The price of the ANC token is changing hands at $2.16 on major spot exchanges, up 0.2% in the last 24 hours.
