Ethereum And Stellar Testnet Launches By New Anchor Stablecoin Tokens (ANCT)

Testnet Launched By Anchor Stablecoin

Anchor is a stablecoin describes itself as a coin “backed by $1 Canadian held securely in Canadian Financial Institutions. Anchor Coin is always tradeable back and forth with Anchor Financial for $1 Canadian.” Fiat currency can be volatile due to inflation and the market itself has its own fluctuations as well. To deal with these issues, the platform has released a public platform and Validator’s dashboard in preparation for its private token sale that will launch in May.

The stablecoin will be pegged to the global GDP and it is now available for public testing. Users can access the interface and create new Ethereum and Stellar-based cryptocurrency wallets. The new token, which will be called ANCT will track the number of economic indicators, together known as the monetary measurement unit (MMU). A few of the indicators include fiat currency, national GDP, and bond yields.

With this type of stablecoin, users may be able to worry less about volatility. According to Daniel Popa, the platform’s founder and CEO,

“Many stablecoins currently on the market offer digitized versions of fiat currencies, which intrinsically lose value due to inflation and are vulnerable to market fluctuations and volatility. In order to be stable, a currency must be pegged to a stable unit of value. Welcoming all crypto traders and enthusiast to test out both Anchor’s public and Validator platforms. I encourage you to see for myself the highly-motivating distribution system of our two-token model, and the 25 years of official financial data from more than 190 countries that goes into formulating the MMU algorithm, ensuring stabilization and predictability of our monetary ecosystem.”

At this point, it is important to remember that the release is only at the testnet stage and users will only be able to trade ANCT in their pseudo-stage. The platform is also considering moving toward decentralized governments sometime this year.