I was thinking about ways to add collateral to Anchor. I’m eagerly awaiting bDOT. bETH one day I may have some available… but there are chains that are extremely simple. (No smart contracts) Like BTC, LTC, DASH, etc.
I would find it incredible to be able to use the above assets to use as collateral. It would open the the proverbial Anchor floodgates! The added advantage of no wrapping! Everything remains on their native chains.
One of Anchor’s core principles is that it leverages the yield generated by PoS asset used as collateral to fund its 20% stable APY on stablecoin deposits. Because BTC does not generate yield, it would not offer the same benefits to Anchor as bETH or bDOT. This is important because these revenue streams are what will make Anchor’s borrow rate competitive once the initial token distribution has ended.
Watch out for Thor chain. See review by the defiant. Rotten code throughout.