"Anchor-...less" on Terra (classic)

Dear @anchor_protocol,

Any time y'all're ready to party, just let me know. I will bring my $1. I will even bring MORE than $1 for that TEN BILLION APY.

Thankx, frenz

Earn

Y'all wanna see a neat trick?

@anchor_protocol said they closed their lending and earning platforms.

That's not ... completely true.

Wanna see how to start earning 16% on a (very unstable) stable coin?

Note that I have 6 $UST deposited.

Read on to see me deposit ... MOAR. 😎

Okay, what dinna work, first.

What doesn't work is trying to deposit into @anchor_protocol, obvie.

What also doesn't work FOR ME RN is the @loop_finance UST-aUST swap. 

It give an error on swap, even at 100 $UST ($3) even at 40 $UST ($1.5). It used to work. It doesn't now. 😭

Also, look at how $UST's price is just FALLIN'.

OFT.

DA.

CLIFF!

D-mn, bro. 👻

But what DOES work?

What does work, ... 'kinda,' is the @terraswap_io UST-aUST for 100 $UST.

Why 'kinda'? Because there is a spread, even at this very small trade. You're paying a 1.26% fee to enter into earnings, so, by my calculations, you'll need 6,943 years to make it back.

Two things:

1. That '6,943 years'-number is totally made up, YMMV.
2. But it does work. 

When you go back to @anchor_protocol earn-tab, you see your funds are now deposited in Anchor EARN.

Why? $aUST == deposited $UST, no matter where on Terra.

That's why shorts on @mirror_protocol (yes, I meant what I said) pay you twice: once for the yields from the short-farm and once again for the appreciation of the $aUST collateral that auto-magic-ally comes to you due to the a-token price appreciation.

Synthesis

I started with @anchor_protocol and ended up with @mirror_protocol.

That's entirely fitting: the anchor-mirror pairing forms a symbiosis that I've seen replicated nowhere else in crypto.

Terra (classic) started with Anchor and Mirror.

From what I see, Terra (classic) ONLY needs Anchor and Mirror to return to blockchain supremacy.

@anchor_protocol, reopen EARN and BORROW. 

@mirror_protocol, incorporate Chainlink Oracle. 

Come back. 

love, geophf