> The protocol isn't promising anything. The people promoting it are, however. Anchor's whitepaper and protocol promises ridiculous yield on USD pegged assets,

> The protocol isn't promising anything. The people promoting it are, however. Anchor's whitepaper and protocol promises ridiculous yield on USD pegged assets, and it is the basis for the entire Terra/Luna crash.[1] Nobody designing the ETH protocol is claiming that it provides USD pegged yield or will double or triple your investment. The closest thing written into the protocol is a return on the native ETH token for block producers - miners or stakers - receiving block rewards from the protocol and tips from user transactions. Ignore the laser eye Michael Saylor's of the world who make ridiculous claims about these protocols that are unsubstantiated - try to look at the protocol design and spec. > Here's what you said: “without the beneficiary needing to set up a USD bank account or disclose private data to a third party.” How is that true if you're not breaking KYC? The sender sets up an account, the receiver only needs a 24 word seed phrase to receive the tokens. Maybe the receiver will need to declare this as a gift or income depending on context and their country's tax laws, sharing details with their government, but they are not having to share details to PayPal or another private company that would typically facilitate an international transaction like this. > You surely meant 0% plus the transaction and currency conversion fees on both ends, right? Depending on the use case, there may not be a fiat exchange. Another user might be happy to receive 1000 DAI, in which case there is no centralized exchange needed. The transaction fees can be minimal through L2 - in cents - and are different than commissions and take-rates of processors like Western Union or PayPal. In ETH, most of the fee is burned, reducing total supply and providing value to the entire network. Another part of the fee is a tip to the block producers, which in a permissionless system can be any entity with enough capital at stake. Finally the fee is a fixed amount, not a percentage of total value being sent. Transaction fees are not perfect - a fee-free permissionless network is not possible - but some will find it preferable and more fairly distributed worldwide compared to how private payment processors currently extract rent. [1] https://www.anchorprotocol.com/docs/anchor-v1.1.pdf https://www.anchorprotocol.com/docs/anchor-v1.1.pdf