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The whole idea of stablecoin yield is a scam. Generating yield by staking is a literal ponzi scheme. Generating yield by loaning means taking on default risk
by DebtDeflation 4y ago
The whole idea of stablecoin yield is a scam.
Generating yield by staking is a literal ponzi scheme. Generating yield by loaning means taking on default risk so your stablecoin is no longer stable in that you can lose principal.
The regulators are asleep at the wheel. All the people posting "Yoooooooo! 20% yield on my stablecoin. Living large!" on Instagram will be the first to demand that the government "do something" when their life savings evaporates overnight.