Built by Terraform Labs the same South Korean Software Company that created Terror Anchor Protocol went live in March 2021

Anchor Protocol the largest dap on terror by total value locked with over 8 billion of cryptocurrency deposited into its savings protocol.

Now Anchor Protocol is popular because it makes it possible to earn a stable annual interest rate of roughly 20 per year on the UST stable coin which is almost 40 times more than what most Banks offer on savings these days.

UST is a decentralized stable coin whose peg is maintained by a mint and burn mechanism. Wherein one dollar's worth of terra's Luna coin can be burned to mint one UST and one UST can be burned to mint one dollars worth of Luna.

When UST is trading above its one dollar peg this incentivizes Lunar holders to burn their Luna to Mint UST and make a quick profit the increase in UST supply eventually brings UST's price back down to the one dollar peg.

On the flip side when UST is trading below its one dollar peg. This incentivizes UST holders to burn their UST to Mint Luna and make a quick profit. The decrease in UST supply eventually brings UST's price back to the one dollar peg. UST has a total supply of nearly 12 billion and this makes it the largest Decentralized stable coin by market cap.

UST's massive supply can be found on multiple cryptocurrency blockchains mainly on terror with more than half of UST supply being locked up on the anchor protocol.