What Is Ankr (ANKR)? How It Works, Uses and Risks
What is Ankr? A plain-English guide to Ankr's node and RPC infrastructure, liquid staking, what the ANKR token does and the risks to check first.
Ankr is a Web3 infrastructure company and network that runs blockchain nodes, offers RPC endpoints that let wallets and apps connect to dozens of chains, and provides liquid staking products; ANKR is the token used across that ecosystem. If you have ever used a crypto app that "just works" on several networks, there is a fair chance a provider like Ankr was quietly handling the connection in the background.
That makes Ankr a "picks and shovels" project: it earns its relevance from other people building on blockchains rather than from a single app of its own. This guide explains what Ankr does, how the ANKR token fits in, and the risks worth understanding before you hold it.
Origins of Ankr
Ankr was founded in 2017 by a team that included Chandler Song and Ryan Fang. The early pitch focused on distributed cloud computing — using spare server capacity to run workloads more cheaply than traditional cloud providers.
Over time, the project narrowed its focus to the part of that idea with the clearest demand: running blockchain nodes. Every decentralized application needs a reliable way to read blockchain data and submit transactions, and running full nodes for many networks is expensive and tedious. Ankr built a business around doing that for developers. If Numeraire is new to you, start with what Numeraire (NMR) is and how it works.
How Ankr Works
RPC endpoints
The core product is RPC (remote procedure call) access. An RPC endpoint is a web address that forwards requests to a blockchain node — "what is this wallet's balance?" or "please broadcast this signed transaction." Ankr operates nodes for many networks and offers both free public endpoints and paid tiers with higher limits.
For a developer, this means connecting to a new chain by changing one URL rather than syncing and maintaining a node. Ankr describes its network as distributed across many locations and node operators, which is meant to improve reliability compared with a single data center.
Node hosting and developer tools
Beyond shared RPC access, Ankr offers dedicated nodes and other developer tooling, such as APIs that bundle common queries (token balances, NFT data) into single requests. The exact product line changes over time, so check Ankr's official site for what is currently offered.
Liquid staking
Ankr also runs liquid staking products. When you stake a proof-of-stake asset through such a service, you receive a token representing your staked position plus rewards, which you can still trade or use in DeFi. Our guide to liquid staking explains the model and its trade-offs, including the risk that the receipt token trades below the value of the underlying asset.
What the ANKR Token Is Used For
ANKR is the utility token of the ecosystem. Commonly described uses include:
- Paying for services. Developers can use ANKR to pay for premium RPC access in some setups.
- Staking. Node providers and token holders can stake ANKR in roles intended to align incentives and secure service quality.
- Governance. ANKR holders have been given a say in certain protocol decisions.
Most people who use apps built on Ankr never touch the token directly — they simply use a wallet that relies on Ankr's endpoints. That gap between infrastructure usage and token demand is important when you assess the project.
Supply Design
ANKR has a fixed maximum supply that was set at launch, with a large share already in circulation. Because supply figures and any changes to token economics can be updated over time, check the live numbers on the Ankr price page rather than relying on old summaries. Our Ankr price prediction for 2026–2027 looks at what could influence demand for the token and neutral scenarios.
Risks and Criticisms
| Risk | Why it matters |
|---|---|
| Competition | Several companies offer RPC and node services, and large chains often have their own providers. Pricing pressure is strong. |
| Weak value capture | Developers can often pay with regular currency, so infrastructure usage doesn't automatically create demand for ANKR. |
| Smart contract and key risk | Liquid staking contracts and admin keys are attractive targets for attackers. |
| Centralization | Many apps relying on a few infrastructure providers creates single points of failure for the wider ecosystem. |
| Volatility | Like most mid-sized tokens, ANKR can fall sharply in market downturns. |
The 2022 aBNBc exploit
In December 2022, an attacker exploited Ankr's reward-bearing staked BNB token on BNB Chain, minting a huge amount and dumping it, which collapsed that token's price. Ankr attributed the incident to a compromised key and later said it would compensate affected users. Whatever you think of the response, it shows that infrastructure projects carry operational risk, not just market risk.
How to Find the Real ANKR Token
ANKR is deployed on more than one network, and look-alike tokens with the same name are easy to create. Before buying or receiving it:
- 1Get the contract address from Ankr's official website or documentation.
- 2Confirm it against an independent source, such as the contract details on its Certified Crypto Market coin page.
- 3Make sure the address matches the network your wallet or exchange is using.
Our step-by-step guide on how to check a token's contract address covers each check in detail.
Bottom line
Ankr is a blockchain infrastructure provider whose main business is giving developers easy access to many networks through RPC endpoints and node services, with liquid staking alongside. Its usefulness to builders is real, but token demand depends on how much of that activity actually flows through ANKR, and the sector is competitive. If you are considering the token, read the official docs, verify the contract address, and follow the live price and supply data on the Ankr coin page.
Frequently asked questions
What is Ankr used for?
Ankr provides blockchain infrastructure: RPC endpoints that let wallets and apps read from and send transactions to many blockchains, node hosting for developers, and liquid staking products. The ANKR token is used within that ecosystem, for example for paying for services and for staking and governance roles. Check Ankr's official documentation for the current list of token uses.
What is an RPC endpoint?
An RPC (remote procedure call) endpoint is a web address that lets an app talk to a blockchain node. When your wallet shows a balance or broadcasts a transaction, it sends a request to an RPC endpoint. Providers like Ankr run the nodes so developers don't have to operate their own servers for every network.
Was Ankr ever hacked?
Yes. In December 2022 an attacker exploited Ankr's reward-bearing BNB staking token on BNB Chain and minted a very large amount of it, which crashed that token's value. Ankr said the incident stemmed from a compromised key. It is a reminder that infrastructure and staking products carry smart contract and operational risk.
Is ANKR an Ethereum token?
ANKR exists as a token on Ethereum and on other networks such as BNB Chain. Because the same ticker appears on several chains, always confirm the contract address for the network you are using via official Ankr sources and the live coin page before buying or receiving it.