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Further little notes from their documentation that, lets just say, "downplay the risk": - "You will not lose your funds because all loans are 100% asset-backed
by nrmitchi 4y ago
Further little notes from their documentation that, lets just say, "downplay the risk":
- "You will not lose your funds because all loans are 100% asset-backed." (https://stablegains.zendesk.com/hc/en-us/articles/4402680425745 https://stablegains.zendesk.com/hc/en-us/articles/4402680425...)
- "Regardless if crypto markets are soaring or crashing, the value of assets under our management remains stable." (https://stablegains.zendesk.com/hc/en-us/articles/4402687671185-Do-you-invest-in-volatile-cryptos-What-happens-if-crypto-markets-crash- https://stablegains.zendesk.com/hc/en-us/articles/4402687671...)
It's kind of shocking really that these statements are still up give how many of their other docs have been editted in the last 10 days.
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Edit: u/ushakov is the hero of the hour for archiving those pages (https://archive.ph/O2lZV https://archive.ph/O2lZV, https://archive.ph/ItERp https://archive.ph/ItERp)
- ushakov 4y agoarchived for future reference https://archive.ph/O2lZV https://archive.ph/O2lZV https://archive.ph/ItERp https://archive.ph/ItERp
- Hamuko 4y ago>How long do you expect users can earn such high yields? >The basis for Stablegains' rate is Anchor Protocol's yield. At the time of writing, Anchor yield is set at 18% - 20% APY and expected to remain so for a long time. >We expect the rates of open finance protocols to beat those of traditional finance for a very long time. https://stablegains.zendesk.com/hc/en-us/articles/4402680471953-How-long-do-you-expect-users-can-earn-such-high-yields- https://stablegains.zendesk.com/hc/en-us/articles/4402680471...
- nrmitchi 4y agoBoth of those were good to, but I didn't include them because both are either "expectations", or a reference to someone else's expectation/statement, and are not definitive statements.
- insta_anon 4y agohttps://archive.is/Rw891 https://archive.is/Rw891 archived just in case
- deleted 4y ago[deleted]
- charcircuit 4y agoThe statements are kind of true if treat funds as the UST in your account. While the UST has remained safe, the value of UST hasn't.
- nrmitchi 4y ago“No honey, I did not lose the house in a poker game. I know exactly where it is, the only difference is that Bob owns it now”. The statement is kind of true if you want to be very disingenuous to what people actually care about. Also, As far as I know, no one deposited UST with stablegains. Stablegains took funds in other formats and converted it themselves.
- sizzle 4y agoWow they need to see prison time for losing investors money saying their main coin was USDC