Anchor Protocol was created based on the stable currency project Terra Money. It is a new type of savings agreement, which aims to balance interest rates by coordinating block rewards from multiple different PoS consensus blockchains, and ultimately achieve stable yield storage interest rate.

ANC tokens are mainly used for two purposes in the Anchor ecosystem:
Governance: ANC stakers can use token voting to change relevant parameters in the system (including Anchor interest rates), and can control the community fund pool (Accounting for 27.8% of the total ANC supply in the pool).
Obtain repurchase income: Part of the income generated by the Anchor platform pledge will be used to purchase ANC tokens on Terraswap, and then distributed to ANC pledgers. This will increase the buying pressure of the ANC token.

Related link: https://www.chainnews.com/articles/455046196332.htm