See that disclaimer thing and it do simply says that you would need to store up that USDT untouched for a year.
Disclaimer: If the user will release funds from the savings account before the settlement period, the user will lose all interest earned during the uncompleted settlement period. (see Terms and conditions linked below).
Question, where does the platform do get that annual profit given into its hodlers yet we are talking stable coin on here.
+1 for this question, although i can already predict the answer as i see it is hinted to in the article:Disclaimer: If the user will release funds from the savings account before the settlement period, the user will lose all interest earned during the uncompleted settlement period. (see Terms and conditions linked below).
Question, where does the platform do get that annual profit given into its hodlers yet we are talking stable coin on here.
I'm assuming our savings are used to give out/back loans, (Or Turboloans as you call them), to your customers. But how can you legitimately garantuee a 12% interest rate? Really, that's insane.
Either the project is a farce, or the interest rates will (or rather MUST) drop by insane amounts to keep the ratio between lenders/loaners healthy.
We've seen the same thing with BlockFi et al. This project doesn't offer anything new but a rehash of already existing services. I'd avoid it.
Nice, but will users be able to withdraw their earnings at any time they wish or there would be a specific time for withdrawal?
If you want any interest at all you need to wait until the settlement period before cashing out.Whatever that means.