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Staking Luna Airdrop on Terra’s Anchor Protocol – What Is It All About?

LUNA is an exciting cryptocurrency on the Terra ecosystem. You can either trade the crypto or invest in high-yield staking. The latter is rewarding but requires an investor who is willing to lock their savings for a specified time. Most of the staking occurs on the Anchor protocol where stakers are allowed to redeem Anchor tokens through the LUNA airdrop program.

Users have been enjoying Luna airdrops weekly since the launch and they will continue to claim them for two more years. To be successful in the LUNA airdrop, there are many things you need to know.

Anchor Protocol in a Nutshell

Anchor protocol is one of Terra’s many projects that facilitates staking crypto (saving to earn interest) and lending of cryptocurrency. Investors have to open an account and buy LUNA to start staking. They can buy the crypto through the integrated exchange using cash or other accepted crypto coins.

On the other hand, it is possible to use your saved crypto as collateral to borrow crypto loans from this platform. It is highly recommended to borrow because this is how Anchor gets finances to give interest to investors, open Luna airdrops, and make a profit.

What is Luna Airdrop?

Luna airdrop is an initiative by Anchor protocol to promote itself to users. LUNA stakers redeem Anchor tokens (ANC), the native coin, instead of LUNA because the project aims to promote the native crypto coin.

To claim your token at the end of the week or any other agreed time, you have to be eligible. There is a transaction fee to complete the process, which is done through Terraswap.

Just follow the steps on the Terra website to complete your claiming procedure, which is straightforward. However, this is not the only platform to unlock Luna airdrop since Terra has partnered with other platforms.

Luna Airdrop on Other Platforms

The Loop market is a gateway for Terra projects. Visit the Terra tab and navigate to Anchor and then to Luna airdrop. But as mentioned, you should be staking LUNA before you qualify for the airdrop. You can earn ANC worth numerous US dollars depending on how much you have staked. The more you stake, the more you earn.

Binance is another crypto platform you can use to stake LUNA and enjoy the Luna airdrop. Since the platform is big and famous, you should not be skeptical about using it. First, open an account with the platform and buy LUNA using USD or other crypto coins. If you do not know how to go about this, visit the website and learn more. Still, redeeming Luna airdrop happens every week.

Conclusion

Luna airdrop is a rewarding opportunity and you need to try it. The good thing is that staking LUNA to qualify for airdrops is also rewarding in that it gives you interest. If you are up to the task, join any of the above platforms to get a Terra wallet and start staking LUNA. You will get more rewards in the process.

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