Anchor should be a dead simple stablecoin savings solution; this proposal is tricky to implement not only for the Anchor team, but also tens of apps and exchanges that already support Anchor as well as hundreds of apps and exchanges whose support is still to come - and it may not come if users are forced to take risks on a volatile token.
There are many ways to promote the value of ANC that don’t introduce obstacles/big trade-offs:
- @bitn8’s idea above for a withdrawal tax
- bANC as collat (borrow based on ANC, perhaps with preferential rates) and/or the v2 borrow model
- veANC
- A lot of other things are proposed in my thread from a few months back
- Last but not least, keep in mind that start of y2 (so in a couple of weeks) ANC inflation is slashed over 4x. It’s a double halving. ANC will pump even if we do nothing about it.
Apart from directly changing the tokenomics, worth remembering that a part of protocol profits is already used to buy back ANC. If we find ways to improve profitability (encourage more borrowing), more ANC will be bought from the market. Ideas include:
- Add a lot more collat options (see again the v2 borrow model)
- Going cross-chain and promoting borrowing better
- Integrate borrowing into consumer friendly apps with good UI
- Someone should build flexible leverage tokens using bAssets (like Levana but with Anchor)