As widely reported, much of the lost value was on the lending protocol Anchor, which took the biggest hit, the data show. It held more than $17 billion on May 6 and locked up just over $106 million on Friday – a drop of over 99%. Anchor was home to Terra’s infamous “stable yields,” where investors could lock up their UST to earn about 19% on a yearly basis.
It’s Not Just LUNA. Terra’s DeFi Apps Have Hemorrhaged $28B
