Terra’s Largest DeFi Protocol Anchor Changes ANC Airdrop Rules: Details

The second largest DeFi protocol by total value of assets locked (TVL) is going to reform the airdrop policy. This decision was approved by a community referendum on Anchor’s 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.

1/ Attention Anchoroooooooorrssss ?

With the passing of Prop 24 to redirect all remaining $ANC airdrops to the Community Pool, the time to claim your $ANC airdrop is running out ?

Make sure to claim your $ANC airdrop by June 1st if you plan on doing so! ? ?

— Anchor Protocol (@anchor_protocol) April 19, 2022

On April 12, 2022, it was proposed to stop the airdrop program as its “increased emissions” become more and more dangerous for the stability of 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 stopped for good. Those who have unclaimed tokens from previous airdrops should claim them before 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.

Anchor community members on the protocol’s forum welcome the new regulation, while Twitter followers of Anchor’s main account lack consensus about 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 covered by U.Today previously, Anchor Protocol (ANC) is the largest and most popular decentralized finance protocol of the Terra (LUNA) ecosystem.

Allowing users to stake UST stablecoin with 19.5% in APY, it amassed more than $15.8 billion in TVL.

ANC token’s price is changing hands at $2.16 on major spot exchanges, up 0.2% in the last 24 hours.