Quote from: jerry0 on Today at 08:24:16 AM

Quote from: jerry0 on May 05, 2021, 09:39:29 PM

Okay so been a while since i checked the waves_exchange client and have quite bit of questions.

So im staking some waves now as i did a while back and see 6% staking and seem to get waves sent to me every week.

I see usdn where you can trade waves for it. Is usdn a stablecoin like usdt or usdc where its flat one dollar regardless?

The thing that is confusing here is at the bottom it says you stake usdn and get 12% to 15% If so, i see you could stake usdn now and it shows interest of 18.67%. Is that annual interest? If so, how is that even possible?

Example if one person has 10,000 dollars worth of waves now and trades it for usdn... they get around 10,000 usdn minus trading fees right? And i see the fees are literally like 15 cents or so? It literally shows the transaction to swap waves for usdn is 0.005 waves fee. But i see there is also a protocol fee... so is that another fee you pay? So imagine trading 10000 usd worth of waves... how much would you get in usdn?

So that would mean if someone has say 10000 usdn and stake it the entire year they going to earn 1200 usdn or so at least by the end of one year? So now their balance is 11200 usdn? Thus imagine doing this with 100,000 usdn... you going to earn 12000 usdn a year? Then with that balance, you could convert that 12000 usdn to usdt... that send that usdt to coinbase or exchange to convert it to fiat and then to your bank account. Am i making any mistake here? But this is with using 12% yearly interest but right now... its 18.67%? But that number changes throughout the days and weeks right? But it doesn't get lower than 12%?

If that is the case, couldn't someone with 1,000,000 dollars literally just earn 120,000 usdn a year and then convert that to usdt... then convert it to fiat to coinbase and back to their bank account? I know those sites like blockfi, celsius offers you interest like that on stablecoins like usdt and usdc etc... so the waves exchange does it as well with usdn? And USDN is basically a stablecoin of a dollar and never changes?

Can anyone confirm this?

Are people here buying usdn and staking it? This seems ridiculous that one can literally earn at least 12% yearly interest with it right now as passive income? I mean 50k usd earns you 6k. Someone who has a ton of money like 500k would earn 60k usdn yearly? Then they can easily convert that usdn to usdt/btc and then to fiat?

If so, how come there isn't much talk about the waves exchange compared to say blockfi/nexo/celsius?

yes, it is true and it is working. There is just not much marketing going on and no attention to Waves

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