Leading decentralised exchange IDEX has announced it will list Anchor (ANCT), an algorithmic stablecoin pegged to the growth of the global economy.

According to a press release shared with Coin Rivet, the listing will commence in mid-September.

IDEX is the second exchange to offer ANCT after Liquid listed it at the end of August.

IDEX is a decentralised ERC-20 exchange that enables users to seamlessly trade Ethereum-based tokens while retaining custody of their assets.

The exchange’s CEO, Alex Wearn, said: “As an exchange committed to providing traders with the best experience possible, we always aim to add high-quality projects. Anchor’s algorithmic stablecoin represents a unique approach to addressing the need for price-stable crypto assets. We’re thrilled to offer our traders the opportunity to trade the Anchor stablecoin via our platform.”

The Anchor stablecoin strives to achieve long-term stability through its peg to global economic growth via the Monetary Measurement Unit (MMU). The MMU is a financial index that is created by an algorithm that tracks a series of macroeconomic indicators.

It works using a two-token mechanism that consists of ANCT and DOCT, a utility token that stabilises the currency and ensures ANCT remains pegged to the MMU.

Anchor’s CEO, Daniel Popa, said: “We are very excited to be listed on IDEX and to expand the avenues through which investors, traders, and crypto enthusiasts can acquire ANCT and safeguard their value during these tumultuous economic times.”

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