Does anyone have ideas for creating additional utility for ANC token besides governance?
The long term borrowing rate with anchor at least partially relies upon the price of anchor and the ability of the protocol to continue providing anc rewards.
How will rewards be maintained over the long run and how is it possible to greater incentivize holding anc. Of course the anc-LP is one current addition compounding incentive, buy what happens when those yields also drop?
It would seem to my amateur eyes that the anc token needs at least one additional utility function to encourage holding besides governance.
Perhaps the anchor (or mirror token on its platform) can be used to power an automated trading system for reinvesting/staking where the fees are paid in these tokens?
Perhaps anchor becomes the way fees on the anchor protocol are collected… not ust, luna, or other currencies?
Perhaps a minimum number of anchor tokens must be held or burned along with the ust deposit on anchor? The 20% net interest would be after some of your anc gets burned?
Clearly the majority of the accrued staking benefits in the system are supposed to accrue to holders of luna, so I’m not sure how we are supposed to increase anchor demand without affecting that.
I’m rambling because I am no expert in any of this… just curious.