Post
Topic
Board Service Discussion (Altcoins)
Re: Passive income of 15% per annum in USDT and USDC
by
vv181
on 23/11/2022, 08:56:41 UTC
A DAO where it only involved three accounts which could take control is not a "DAO" at all, instead, it is centralized. It has no benefit to security as stated on the website. The people behind those accounts is even unknown, what if the same person owns those 3 accounts?

Just to reiterate the pinned announcement message on this forum, this count as a yield platform, so beware.

When you log into an exchange, yield platform, or other site, and it says that you have a balance of "1 BTC" or "1 USD", this does not actually mean that you have 1 BTC or 1 USD. Rather, it means that the company showing you this balance owes you that money. In other words, you've given a loan to the company. Maybe the company will pay you back, but history is littered with defunct companies which accepted deposits and were widely trusted for years, but which ended up not paying back their depositors in the end.
~
Also, note that many altcoins, tokens, and DeFi projects are either fundamentally centralized and therefore about as risky as online wallets, or they are still potentially vulnerable to the recent wave of insolvencies due to the way that they're designed.