![\"Anchor](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2022\/03\/anchorsss.jpg\")
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While the decentralized finance (defi) platform Anchor Protocol\u2019s native digital asset ANC has gained more than 180% over the last month, the total value locked (TVL) in Anchor has increased a great deal during that time as well. Anchor Protocol is currently the second-largest defi lending platform in terms of TVL, and over the last month, Anchor\u2019s TVL has increased by 40.13%.<\/strong><\/p>\n The Terra-based token anchor protocol (ANC)<\/a> has increased in value significantly against the U.S. dollar during the last month. At the time of writing, 14-day metrics show ANC has gained 82.7%, and 30-day stats indicate ANC is up 182.4%.<\/p>\n Anchor<\/a> is a lending protocol built with the Terra<\/a> blockchain network, and it gathers liquidity from lenders and borrowers. Moreover, lenders depositing the stablecoin terrausd (UST)<\/a> gather a stabilized yield at close to 20% APY.<\/p>\n In order to gather yield, Anchor uses a liquid-staking mechanism<\/a>. Anchor and Orion Money<\/a> also offer Ethanchor<\/a>, which allows depositors to gather yield on Ethereum-based stablecoins in contrast to Anchor\u2019s UST functionality.<\/p>\n Currently, Anchor is the sixth-largest defi application today, out of all the defi applications in existence according to defillama.com metrics<\/a>. Anchor\u2019s TVL has increased 5.55% over the last week, but monthly statistics indicate the protocol\u2019s TVL jumped 40.13% since last month. Much of Anchor\u2019s TVL increase to $11.5 billion occurred during the last 30 days.<\/p>\n In terms of the 124 lending applications, Anchor is now the second-largest<\/a> defi lending protocol under Aave. The lending protocol Aave<\/a> is just a hair above Anchor as Aave currently has a TVL of around $11.6 billion.<\/p>\n Below Anchor, in terms of lending defi apps by TVL, include protocols like Compound ($6.48B), Justlend ($1.86B), Venus ($1.62B), Banqi ($1.11B), and Iron Bank ($1.06B) respectively.<\/p>\n Anchor metrics also show there is $2.46 billion borrowed by borrowers today and people in debt have to leverage bonded LUNA or bonded ETH<\/a> for collateral. Anchor\u2019s documentation says that the defi lending protocol has three audits.<\/p>\n One audit<\/a> published by Cryptonics<\/a> goes over Anchor\u2019s smart contracts and another audit<\/a> by Cryptonics reviews Anchor\u2019s distribution of ANC and smart contracts. Furthermore, last July an Anchor audit report<\/a> was published by the team at Solidified<\/a>.<\/p>\nAnchor TVL Surges More Than 40% in 30 Days, Protocol\u2019s TVL Rivals Aave\u2019s Lead<\/h2>\n