Introduction:

Borrowers are people who pledge bToken assets in exchange for receiving Stablecoin. The bAssets in the anchor protocol can be deposited and locked to receive a loan. The currency of borrowing in Anchor protocol in Terra UST.

By borrowing, users can access liquidity without having to sell their secured tokens. These people need to be careful about the value of the loan (LTV), so as not to be liquidated. Anchor‌ Protocol also distributes ANC tokens to borrowers.

The list of addresses that have made at least one borrow in the past 90 days are studied from different aspects including:

• Total number of addresses

• Total amount of borrowed UST

• Average amount of borrowed UST per unique user

• Percent of addresses that have made borrow action according to the clustered buckets.

• Number of borrow times for top 100 addresses

The participated addresses are clustered based on borrow amount (UST) as below:

• tiny: 0-100

• small: 101-1000

• medium: 1001-10000

• big: 10001-50000

• great: 50001-5000000

• giant: bigger than 5000000

For all of these buckets, the number of addresses and amount of borrowed UST are clarified.

Based on the identification of buckets in the introduction section, the percentage of addresses in each bucket is demonstrated in this figure. According to this figure, the medium and small buckets have biggest number of users in the list of all addresses with 9754 and 8255 unique users, respectively. Also, giant bucket that borrowed over 5 million UST has only 655 unique user on it.

This figure illustrates the number of borrow time for each unique user in the considered period. This illustration are executed to top 100 addresses based on their borrow amount. According to this figure, the biggest number of borrow time is 518 which means that this user borrowed 518 times from anchor protocol in the past 90 days.

Based n the tables of Flipside crypto, the total number of unique users that have made at least one borrow action in the past three month is 31000 user, approximately. These unique users are borrowed over 10 billion UST in this period. Therefore, the average amount of borrowed UST for each unique user is calculated as 360k UST, accordingly.

Summary:

You can borrow a UST token by collateralizing bLUNA and bETH tokens. The borrowing bonus is paid in the form of ANC (Anchor Protocol Native Token) and exceeds the interest you must return to the protocol with the loan.

The list of addresses that have made at least one borrow action in the past 90 days is obtained. According to some basic analysis on this list, the following insights are provided.

• The highest percentage of borrowers have borrowed between 1000 and 10000 UST.

• The average amount of borrowed UST is 360k and it shows the application of Anchor protocol remarkably.

• Some serious addresses with high amount of barrowed UST, use borrow action of Anchor protocol over 500 times in the past 90 days.