There was an interesting announcement by the Interchain Asset Association yesterday that is exciting for every digital asset investor and has potential huge implications for retirement accounts (IRAs).
The project is called Anchor Protocol, which is being spearheaded by the Interchain Asset Association. This is a collaboration between Terra, Cosmos, Polkadot and others.
The way I see it, this news can easily be summed up into four easy points.
- Anchor Protocol will be the first cross-chain Decentralized Finance platform (DeFi).
- A savings protocol powered by a money market that is collateralized by tokenized stakes. It will generate stable yields for all depositors, and allow them to take out loans on their assets if desired.
- It will eventually function with nearly all Stake based assets (ETH, DOT, ATOM, LUNA…etc).
- The team mentioned that this would be a great tool for IRA’s, as it would allow investors to generate reliable yields within their retirement accounts.
iTrustCapital will continue to be the leader when it comes to innovating within the IRA space.
ITrustCapital will likely start a due diligence process on Anchor protocol sometime in 2021, as this is an incredibly exciting feature many of our clients would be interested in.
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