Objective

In this analysis, we create six basic analyses to explore all addresses that have made at least one Anchor borrow in the last 3 months.

What Is Anchor protocol?

Anchor is a decentralized savings system that provides stablecoin deposits with low volatility rates. Because the Anchor rate is supported by a diverse supply of staking rewards from key proof-of-stake blockchains, it is intended to be far more stable than money market interest rates. The Anchor community thinks that a consistent, trustworthy source of income in Anchor has the potential to become the cryptocurrency's reference interest rate. The Anchor protocol establishes a money market between a lender seeking steady returns on his or her stablecoins and a borrower seeking stablecoins on stakeable assets. The borrower secures Bonded Assets (bAssets) as collateral and borrows stablecoins below the protocol-defined borrowing ratio to borrow stablecoins. The diverse stream of staking rewards accruing to the global pool of collateral is then converted to stablecoin and given to the lender as a stable return. Anchor Terra represents deposited stablecoins (aTerra). aTerra tokens may be redeemed for the original investment as well as earned interest, enabling interest to be collected just by keeping them. Anchor is designed to give depositors with:

• High, consistent deposit returns backed by bAsset collateral incentives
• Instant withdrawals of stablecoin deposits via pooled lending
• Principal protection is provided by liquidating loans that are at danger of being undercollateralized.

Anchor is a permissionless, open savings protocol, which means that any third-party program may join and earn interest without limitation. Developers may interact with Anchor with only a few lines of code using Anchor Earn, Anchor.js, or EthAnchor.

Analysis I:

This investigation aims to observe the total and the variation in the number of Anchor's borrowers over the past three months.

As seen in the visualization, the daily number of borrowers' patterns is more likely to be unsteady, as illustrated by the presence of four dominance curves throughout the chart.

As seen in the above result, the overall number of borrowers is 29.64k people who have made at least one Anchor borrow in the last three months.

According to the above area chart, the number of borrowers who have completed at least one transaction on the Anchor protocol is rapidly growing, indicating that Anchor's borrow protocol has achieved a lot of traction among Terra users and other chains users.

The positive slope of the fitted linear line with the slope of 0.020548 indicates that the linear regression result confirmed the growth in the cumulative number of borrowers, as seen in the above figure. This result implies that the rate of growth of Anchor borrowers is rapidly increasing, indicating that the protocol will be used by more people in the near future.

Analysis II:

This section will illustrate the distribution of USD in several tiers and classify them according to their USD ranges.

According to the following figure, the majority of Anchor borrowers completed transactions in the range of $1,000 to $10,000 USD, which is classified as Dolphin. This result implied the fact that the majority of borrowers are from general users, not Whale or Humpback users.

As indicated by the bar chart, Anchor borrowers have completed between 0 and 10 transactions, indicating that the growth rate of Anchor borrowers in terms of user adoptions remains modest. As a result, we suggest that the Anchor team design new events for activating Anchor borrowers in order to increase the protocol's adoption.

Analysis III:

The last part aims to explore user adoption in Anchor borrow protocol over the last 3 months.

Conclusion

Our findings can be summarized in four aspects:

• We observed that changes in the number of borrowers' patterns on a daily basis are more likely to be unstable.
• When we examined the cumulative change in the number of borrowers over time, we discovered that the chart is rapidly rising, which is confirmed by the result of linear regression.
• We discovered that the great majority of Anchor borrowers engaged in transactions ranging from $1,000 to $10,000 USD, which we refer to as Dolphin transactions. This result implies that the majority of borrowers are neither Whale or Humpback users, but rather normal customers.
• We saw that the majority of Anchor borrowers traded between 0 and 10 times, which seems to be a low volume, and so recommend that the Anchor team hold such new events to improve the amount of transactions.