No-loss Prize Savings Game INK Protocol Is Off To A Strong Start On The Terra Blockchain
Disclaimer: The text below is a press release that was not written by Cryptonews.com.
INK Protocol launched on the Terra blockchain last December and keeps achieving milestones ever since. The no-loss prize savings game lets users win by saving and provides unlimited upside to potential prizes while ensuring users control their odds based on how much funds they deposit.
The decentralized finance industry has given rise to many opportunities. Anyone in the world can control their wealth and access financial products and services with the potential to generate passive revenue and interest. More importantly, many different blockchains and ecosystems provide exposure to DeFi options, with Ethereum remaining the largest chain followed by the fast growingTerra chain.
Speaking of the Terra chain, it is home to over USD 18 billion in Total Value Locked with only 17 active projects as of writing this. Anchor Protocol remains the most significant project, representing nearly half of that value. Additionally, the TerraUSD (UST) stablecoin has surpassed USD 10.5 billion in market cap, representing a near 40x increase compared to a year ago.
The launch of INK Protocol on Terra will introduce a decentralized passive income and prize savings protocol to the ecosystem. Players can win by saving, creating a gamified spin on savings for users who like to see significant and fast returns without risking losing money. INK Protocol users can tap into three main benefits:
Users deposit 11 UST or more into INK Protocol, which earns yield from Anchor Protocol. Deposits made into Anchor can earn roughly 20% APR, and all the accrued interest is pooled into INK protocol as rewards, of which five weekly winners will be drawn. Deposits are locked for
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