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May 28, 2022

1/ Block 1 of the brand new Terra blockchain (with a chain_id of “Phoenix-1”) has officially been produced at 06:00 AM UTC on May 28th, 2022! Congratulations to the #LUNAtic community on this expeditious feat of collaboration 🎉

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May 27, 2022

1/ Yesterday, we said Terra 2.0 is coming. Tomorrow, it arrives. The community has been working around the clock to coordinate the new chain’s launch. Subject to potential change, we expect Terra to go live on May 28th, 2022 at around 06:00 AM UTC.

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9/ You should now see the $stETH in your Ethereum wallet ✅ Note: you are now staking $ETH on

@LidoFinance

& earning staking fees. You can unstake your $stETH to receive $ETH using

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8/ Step 4: Convert $bETH to $stETH. Go to 👇 anchor.lido.fi/unwrap Connect your wallet, click the “To stETH” button, enter the amount of $bETH you would like to convert to $stETH on

@LidoFinance

, & convert it.

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7/ Note: you will need $ETH in your Ethereum wallet for gas fees to complete these steps

6/ After, proceed to step 2 to target & connect your Ethereum wallet. Then, choose your preferred asset to pay fees in & select transfer. Thereafter, proceed to step 4 & redeem the tokens. At this point, the token names should appear in your Ethereum wallet ✅

5/ Step 3: Bridge $webETH to Ethereum. Go to 👇 portalbridge.com/#/transfer?sou Select bridge from Terra to Ethereum, connect your Terra wallet, select $bETH ($webETH from Anchor) from the dropdown menu, & enter the amount to bridge.

4/ Step 2: Add $bETH & $stETH to your Ethereum wallet. Go to 👇 anchor.lido.fi Connect your wallet & click the “+” next to both $bETH & $stETH to add the tokens to your Ethereum wallet.

3/ Next, connect your wallet & click “to webETH” on the top right side of the page. You should see your $bETH balance appear under the $bETH section. Click the $bETH balance in gray & convert your $bETH to $webETH.

2/ Step 1: Convert your $bETH to $webETH. Go to 👇 app.anchorprotocol.com/#/basset/wh/be

1/ For those who would like to bridge $bETH off of Terra to Ethereum, here’s a 🧵 on how to send your $bETH from Terra to Ethereum & swap it for $stETH, which yields you a staking yield of ~3.8% APR.

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May 18, 2022

1/ Terra governance prop #1623 to rename the existing network Terra Classic, LUNA Classic ($LUNC), and rebirth a new Terra blockchain & LUNA ($LUNA) is now live. Vote here: station.terra.money/proposal/1623

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Anchor users, please stop interacting with xAnchor & EthAnchor or bridging $bETH, $sAVAX, $bSOL, or $bATOM collaterals to Terra as the blockchain has halted. Stay tuned for future updates.

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May 13, 2022

The Terra blockchain has officially halted at block 7607789. Terra Validators have halted the network to come up with a plan to reconstitute it. More updates to come.

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May 11, 2022

1/ Dear Terra Community:

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May 10, 2022

Getting close ... stay strong, lunatics

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has some insolvent loans. 1. Not a bug. 2. Anchor is not insolvent and deposits are safe for now. 3. The docs need some serious updating. To preempt le-fud and for the sake of my DM’s here the explainer —> twitter.com/skgBanga/statu

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May 10, 2022

Close to announcing a recovery plan for $UST. Hang tight.

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Many users of xAnchor on

@avalancheavax

experienced significant tx delays due to network congestion & infra overload. Delays should be resolving now & pending txs should begin catching up. The Anchor team has more updates pending as we digest multiple inputs from events today

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May 9, 2022

A-Team is assembling.

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May 9, 2022

1/ Liquidity brawl behind the scenes amid material $UST peg deviation on third-party venues. Fighting back. More updates are incoming #LUNAtics. Hang on, fam. Here are some resources to combat misinformation:

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2/ NOTE: There were not any deposit withdrawal caps during this time & the total deposits display was not intentionally frozen.

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1/ Some may have noticed, but the frontend display for total Anchor deposits recently went down & was not updating correctly. This indexer issue has since been resolved & total deposits are now accurate on the Anchor Dashboard.

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Mfers we are the peg $LUNA $UST twitter.com/Cephii1/status…

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TOP wallets that withdrew+deposited from Anchor, update. Previous research only accounted for $1.2B. Here is the full ~$2.7B that left Anchor. We have 2 new top withdrawers, with $220M and $330M net withdrawals. 1% = $30M. Blue = Others. UST is a save haven asset. 1/9

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Here are the TOP wallets that withdrew from Anchor on 5/7/22. Net = Withdrawal amount - Deposit amount. 1% in this pie chart = $12M UST. But real question is, was UST/Anchor a safe haven during market panic? 16,000 addresses interacted with Anchor, let’s find out…

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Excellent analysis yet again by

exploring recent

@anchor_protocol

deposit/withdrawal flows. 87% of Anchor users either made no moves or added to deposits. A small % of whales accounted for the bulk of outflows.

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[Proposal] veANC, Anchor Voting Escrow Tokenomics

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19/ In the meantime, check out

@qubitn8

’s post on the Anchor governance forum to learn more about the roll-out of $veANC, which will officially launch on Wed. May 11th 👇

forum.anchorprotocol.com

I agree with this, as it stands ANC is far too liquid without much purpose other than leveraging. I can get competetive rates depositing on edge vs governance and gain access to borrowing UST. As it...

18/ As mentioned, there will be more to come on the new 2.1 borrow model sewn, so stay tuned frens 👀

17/ In this new 2.1 borrow model, LSD providers who would like a piece of the “staking pie” will need to thus acquire $ANC, lock-it up for a minimum of 1 week (reducing the circulating $ANC supply) & vote for their LSD’s gauge to increase its weight in its corresponding basket.

16/ As Anchor continues to grow & more users provide collateral to be staked in the background, LSD providers will want to do everything in their power to maximize the amount staked to them.

15/ This competition for the minting of LSDs (Which protocols like

@LidoFinance

@staderlabs

@BenqiFinance

& others earn significant fees on) is what could give rise to the #AnchorWars⚔️.

14/ The gauge weights, which $veANC holders can vote on, will determine what percentage of the $LUNA provided is used to mint each of these LSDs on the backend.