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91% of Anchor Users Overslept UST Incident

ByLouis Adams

May 10, 2022
Reading time: < 1 minute

The withdrawal of $1.42 billion from the Anchor protocol last May 7 affected 11,400 addresses, according to the calculations made by the founder of DAO SplitBrick Pedro Ojeda.

According to his estimate, 5,371 users deposited $224.6 million, and the remaining 90.9% did not take any action.

Ojeda wondered if Anchor was safe at all in the face of market turmoil.

In early May, the interest rate on deposits at Anchor was reduced to 18% for the first time. On May 7, as a result of a notable withdrawal of funds, the Terra ecosystem’s stablecoin briefly lost its peg to the US dollar.

According to Ojeda, the median amount of receipts that day was $ 1,000, being the withdrawal twice as much.

The structure of the distribution of the movement of funds demonstrates that at 99% of the addresses the amounts were less than $1 million.