Anchor Protocol · interactive mechanism simulation

Depositors earn a fixed Anchor Rate on UST; borrowers post staked bAssets and their staking rewards subsidize the rate. When deposits dwarf borrowing, the yield reserve drains to fund the gap. Edit the parameters and watch runway.
Depositors UST → aUST Anchor Market Anchor Rate 19.5% 0 UST deposited Depositor payout fixed-rate UST yield Borrowers post bLUNA/bETH Collateral pool 0 UST borrowed ANC emissions to borrowers Staking rewards 0 UST/tick Yield reserve 0 UST UST depegs mass withdrawal / bank run
UST deposited
0 UST
UST borrowed
0 UST
Yield reserve
0 UST
Reserve runway
— weeks
Parameters — edit me
19.5%
20%
7.0%
1.8/s
Controls

Illustrative simulation. Defaults mirror the researched Anchor Protocol mechanism (fixed ~19.5% Anchor Rate, staking rewards from bAsset collateral recycled into a yield reserve, deposits far exceeding borrowing). Flows, timing, and the depeg dynamic are simplified for visualization — not live onchain data. Part of The Onchain Experiment Atlas.