Has anyone been using OkCoin to lend UST? You get the same 19%~ APY. It says it is through Anchor Protocol.
I’ve been searching everywhere to see what the difference is between going directly through Anchor or using OkCoin and not having to link anything to Anchor. The OkCoin route seems much easier with the same rewards.
Anyone have definitive answers on this?
Bump.
Nobody? Hoping clarity can be provided to benefit people interested in Anchor Protocol.
Just Do your own research.
I’ve doing my own research for weeks. If it wasn’t so vague I wouldn’t be posting here.
Appreciate the informative response, though.
Just deposit on anchor directly is better.
well, at least when you store your crypto on an exchange - they are in control of your funds, not you (they hold the private keys), which is not something i like, for instance.
if there is no lock on your ust on okcoin, then it seems to be fairly similar to depositing to anchor directly.
if there is a lock - depositing to anchor has no locks, so it is certainly preferable.
not sure why you would want a middleman, when you can deposit directly to anchor. if using a middleman - you’ll then need to ask questions like you asked and research what exactly they are doing and if there are any hidden tricks or whatever.
So, they don’t have it locked up, per say. You can redeem the UST at any time and the rewards.
They also don’t charge fees or keep any of your earnings.
I think I might switch to go directly through Anchor. It is just so streamlined in OkCoin, I thought “why not?”.
I keep looking for the answers the questions you mentioned, but maybe there aren’t any at the moment.
oKX just providing extra defi service to it’s users where users can stake/withdraw UST in just couple of clicks without maintaining any non custodial wallets. Some users may find this helpful coz not everyone bother to create wallet, connect wallet to anchor, go on staking and so on. The question is are you willing to give your asset custody to others or not