Right now the yield reserve is losing a little more than $1M/day and it’s accelerating. At this rate, without some intervention, it will be depleted in 50-60 days. Maybe a bit sooner.
With Solana having network throughput issues + better borrowing and deposit alternatives elsewhere, I’m having a tough time seeing Anchor attracting enough borrowing demand to offset this bleeding in time. Maybe it will slow down a bit but I kind of doubt it.
Unless there is another TFL back stop, ANC rewards increase significantly (done too quickly and it will likely tank the price and you end up no better off) or significant changes to the protocol with a proper yield curve, I fear that this marvellous work will all be for nothing.
Another option would be to enable mainstream borrowing sort of like Goldfinch as opposed to just borrowers that are levering up their speculative bets.
We’re well positioned to do this at Bidali with our regulatory approvals, fiat on/ramps and tech we’ve built for merchants and consumer, to date. But unfortunately, I’m not sure that 2 months is enough time to attract enough mainstream borrowing demand…
I had such high hopes for Terra and Anchor but it seems that this aggressive a push towards degen strats for distribution may be the downfall. More risk than I’m comfortable with now. This makes me very sad. 
Unless the TFL and Anchor teams know something we all don’t, I think there needs to be a rapid push to a yield curve and deposit cap both globally and per address until a more sustainable solution can be thought through.