The Premium gives several benefits including:
- Up to 25% APY of the locked tokens (credited correctly).
- Extra % of interests for the satoshis deposited in the account (credited correctly).
- % cashback on the wager volume made (credited correctly).
- N of daily spin wheels (currently not credited correctly).
As indicated, the only point of the membership are the spin wheels for the problem of the huge swing in the prices of the cryptocurrencies involved, a problem that they are trying to solve, everything else works as indicated in the membership, so we cannot talk about a scam.
The 25% APY on locked tokens isn’t part of the Premium membership, you can get the benefits with a minimum of 500 tokens. Even with such a high annual rate it is not worth it to buy tokens just for this because of their poor price performance they will lose more value than what you earn.
The wheel spins were the most attractive aspect of being a premium member because they don’t require you to wager or make a deposit. I don’t really believe that price fluctuations are a reason why they needed to pause this. If the program wasn’t profitable to them they could have nerfed the rewards like they have in the past. They’ve had over a month to figure out a solution.
No, what you say is true if the market goes down, but if it stays the same or goes up, it is the major source of income, and since you can't know the future market with absolute certainty, they are called investments precisely because they have a source of risk.
Nobody disputes the fact that spin wheels are the most attractive part, both because they give the thrill of the game, and of winning special prizes such as rolex, iphone, etc..., but in fact they represent the 3rd source of income after the APY and the possible % of interest per satoshi deposited, if these are significant figures.
It is a certain fact that the reduction of spin wheels is due to the change of the 2 cryptocurrencies and it is easily demonstrable.
I take my case which is the same for everyone, since I was one of the first to get the Premium when it came out..
At that time bitcoin was worth around 10,000/20,000$ and a FUN was equal to 50 satoshi (1 FUN = 50 sat).
Each Spin wheel has 4 prize categories, considering that the weighted average is of the common ones: satoshi, points, tickets, about 1/3 are tickets that in fact do not offer, except special cases of winning, earnings to the user. so 66% remains between satoshi and points.
Always at that time each common prize was equivalent to 50 satoshi/points/ticket, so let's say we got the prize of satoshi we had: 1 FUN = 50 sat, 1 spin = 50 sat, so a ratio of 1 (50:50).
Today we find ourselves with a bitcoin value 3/5 times higher and a FUN value 12 times lower, if we look at the spin wheels at the current value a common prize is 17/18 sat, while we have a FUN value of 4, so we get: 1 spin = 18 sat, 1 FUN = 4, whose ratio is 4.5 (18/4).
This means that the site must pay more than quadruple what it initially paid with the spins and obviously it may no longer be sustainable.