Anchor Protocol
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EthAnchor Contracts
EthAnchor is scheduled for deprecation and is to be replaced with xAnchor. It is highly recommended that new integrations are built with xAnchor and not with EthAnchor.
EthAnchor contracts are Ethereum smart contracts that facilitate cross-chain Anchor deposits. They primarily consist of Operation, Router, ConversionPool, and ExchangeRateFeeder contracts.

Operation

Operation contracts are address-specifically generated smart contracts used to isolate individual EthAnchor deposit/redeem operations. They take in information about a specific request, later used to process the operation.
Operation contracts are crucial for distinguishing between operations requested by different users, and are structured to process a single request at a time.

Router

The Router contract is responsible for routing incoming deposit/redeem operations to an available Operation contract. The Router owns multiple Operation contracts for processing user requests.

ConversionPool

ConversionPool contracts manage the conversion between non-UST stablecoins and UST, which are subsequently deposited to Anchor through the Router.
A proxy contract lies above the Router and ConversionPool contracts for routing requests to the most recent contract version.

ExchangeRateFeeder

The ExchangeRateFeeder contract calculates and determines the exchange rate between non-UST stablecoins and their aTerra counterparts.
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Operation
Router
ConversionPool
ExchangeRateFeeder