Anchor: Cryptocurrency Stability Just Got Better

If you take the pain to ask few cryptocurrency investors and holders what their greatest nightmare in the cryptocurrency industry is, I am pretty sure the most answer will be cryptocurrency volatility. Not just few but most of us in the cryptocurrency industry are being affected by this issue, truth be told, it works in favour of some people in the sense that that $1,000 they see in their wallet today surprisingly might worth double of its value the following day, but how what percentage of investors are being favoured by this? Just a few I am sure.

This issue of cryptocurrency volatility is the main reason why some individual and corporate organizations up till now see no reason why they should adopt the use of cryptocurrencies as a medium of transaction, not their fault tho, nobody wants to lose the value of their funds.

In a bid to get rid of this price volatility in the cryptocurrency market, we have seen the advent of some stable coins which has price stability as a result of them being pegged to physical assets and fiat currencies but then, how far have we gone with this yet?

Tether as the most popular of these stable coins is being backed up only by 74% of USD and not 1:1 as claimed by the team which raises a lot of concern among its users, even DGX that stands as the most popular gold backed token has a very low trading volume which is also a major concern to its users. A lot of issues also associated with other stable coins in circulation and as such, the reliability on stable coins as an alternative in the cryptocurrency market is becoming questionable.

Should we then continue this way and still expect to get the global cryptocurrency adoption that we all crave for? NO

The Solution; Anchor

Anchor isn’t just the regular stable coin project we are all used to, it is a very unique project that has a two-token stablecoin that is pegged to a non-flationary and algorithm index which reflects a long term growth of the global economy.

Regardless of the cryptocurrency market fluctuations, Anchor will create an ecosystem that is intrinsically stable with its Monetary Measurement Unit (MMU) and two token model, therefore serving as an elastic and non-collateralized stablecoin.

This MMU is a financial index that s being created by an algorithm which takes into account the GDP of 190+ countries from last 25 years with further stability with forex indicators from basket of currencies and also sovereign bond products from 10 out of the world strongest economies.

How Does the Price Stability Works?

Each year, Anchor’s basket will contain currencies from 10 of the strongest national economies which is solely based on annual GDP and participation in the global economy. This basket will be re- evaluated and updated by the system at the beginning of every fiscal year in order to ensure that the most reliable and strongest and most reliable national currencies are being represented in order to bring real value and stability to the system.

This will not only stabilize the unit of account but also succeed in stabilizing the currency’s store of value.

The Tokenomics

This project like I said earlier consists of a two-token model which are Anchor tokens (ANCT) and Dock Tokens (DOCT). ANCT will serve as the main currency of the platform which can be used for payment while DOCT shall serve mainly the purpose of a utility token which will stabilize the currency and ensure that ANCT is pegged to the MMU irrespective of the market fluctuations.

This project works with contraction and expansion mechanism in which the system has programmed the buying and selling of tokens in order to maintain the ANCT’s price equilibrium with the MMU.

The Usecases

• Provision of efficient and cheap international payment for organizations and businesses
• Processing of monthly mortgage, lease installations and rents through smart contracts
• Efficient and affordable global remittances for migrant workers
• Monthly expenses which are being paid automatically
• Automatic payment of workers salary through smart contracts and
• Prevention of value cash in currencies.

In conclusion, in order to achieve a global adoption of the blockchain technology, there’s need to tackle the most challenging issue being faced by the industry which is the high volatility in value of cryptocurrencies which is the reason why Anchor has stood up to the challenge of finding a lasting solution to the problem. With all sincerity, I am being amazed by the modus operandi of the platform which is absolutely top notch and judging by the professionalism and experience of the team, the project will definitely be among the best project in the blockchain space.

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