Arca Has Posted a Governance Proposal to Add Much-needed Utility to $ANC

TokenInsight news, Arca has posted a governance proposal to add much-needed utility to $ANC. It said that any wallet with over $100,000 of $UST deposited in Anchor must own and stake an amount of $ANC tokens equivalent to 10% of the $UST deposited to earn the full ~20% APY. If the wallet does not hold greater than or equal to the 10% equivalent of the $UST balance deposited in the $ANC governance contract, then the $UST deposited in Anchor earns accrues one half of the Anchor Yield (~10% APY total) with the net interest margin accruing to the Yield Reserve.