Quote from: Marquise$Museum on February 20, 2021, 02:14:00 AM

Quote from: Marquise$Museum on February 18, 2021, 08:45:11 PM

If USDN implodes and become worthless, that is the definition of pyramid.

https://waves.exchange/trading/spot/USDT_USDN

99 cents USDN/USDT

same problem as WUSD/Waves last year, few cents spread at first, then it accelerates.

It appears that there is zero possibility that USDN Apy from swop.fi is actually backed by any tangible surce of revenue that can sustain 100% apy.

This is weimar republic money printing from thin air, it will implode. Anyone holding USDN is holding massive liability right now, get rid of it.

https://swop.fi/info/3PHaNgomBkrvEL2QnuJarQVJa71wjw9qiqG

You were warned.

This is unbacked ponzi, the apy is paid by your own money, if many try to withdraw at the same time, you will see what will happen because it is nothing there because it is not possible in human history to generate this kind of apy unless ponzi.

Waves has a track record of doing this with especially USD stablecoins:

Ft8X1v1LTa1ABafufpaCWyVj8KkaxUWE6xBhW6sNFJck

I looked at the investment options on waves and most of them seem ok with ~10-20% apy, this is normal and realistic.

problem is USDN swpo fi, it is contaminating the platform. It must be corrected and lowered from xxx% apy to realistic xx% otherwise it will have negative impact for waves.

It is better to stop this early before it balloons into something that cannot be controlled.

Everybody are new to this DeFi, it is normal to be a little bit too eager to get new people into this system but no need to create ponzi.

It appears, USDN also pushed waves price too high after release last year. Whoever sold waves for USDN, is probably holding air.

I have all my monthly salary in waves so I like this to go up, but what I see here is big problem soon if not fixed.

Simply lower apy and prove that there is real USD 1:1 backing for USDN. problem solved.

I did not read about DeFi until yesterday, it is new information but it is very easy to see what the problem is with basic understanding of ponzi.

Maybe you dont care and become greedy now, yes waves can go up to $xxx with this ponzi but after, this is what happens:

https://coinmarketcap.com/currencies/desire/#charts

you will not be able to sell your profit at the top because waves controls deposit/withdrawal, they decide who gets profit, small buyers always lose.

Waves is one of the best cryptos, price will go up later but why create cheating? It will only slow down progress.

Maybe waves team are inexperienced with this type of scams in Russia. It is common in EU and US.

Waves really was not DeFi native, and now it seems like DeFi is simply new form of Ponzi. So understandbly waves team want in on the action, but it will backfire because you don't know what you are doing.

You only see parabolic profits and think this is good but instead now you become another ponzi like sushiswap. Many Asians will lose money there.

I cannot fully agree with you, good observations though, thanks for sharing.
Highest APY I can see on USDC and USDT about 60% last time when I checked it.. USDN fee was lower.
I heard fund staked are used in Eth DeFi farming, which gave big APy and there is a reason of high interest, but there is not so much details about it..