Yep.  This is de-fi if I'm not mistaken (and please pardon my ignorance, but I never got past all of those extremely attractive advertised yields), and I've always figured that the market for crypto lending is based on pure speculation, i.e., people aren't borrowing it to finance houses or cars or whatever but to trade with.  And if that's the case, it doesn't seem like a sustainable business model to me--or a sustainable investment vehicle for the lenders.

But take a look at how many members we have on this forum who are desperate for money; desperate enough that they'll either scam for pennies or join some of the scammiest bounties in the hopes that they'll be rewarded with worthless tokens.  If you take that into account, it really isn't surprising that when a newly-formed company offers returns so much higher than the stock market (or any other market for that matter), they pounce on it.  It's understandable but unfortunate.

And while everybody is chasing these outrageous returns and the companies eventually go bust, what happens?  The regulators start taking notice and crypto comes under high scrutiny.  It's ultimately not good for any of us in the long term.