3 ms·
It looks like Celsius is illiquid (not insolvent). Yes, they still offer 16.8% yield on SNX (a high-inflation one) if you earn in CEL token but demand for SNX y
by apienx 4y ago
It looks like Celsius is illiquid (not insolvent). Yes, they still offer 16.8% yield on SNX (a high-inflation one) if you earn in CEL token but demand for SNX yield on Celsius is so low that I don't see a problem with any of that. They acquired the leading custodial service (GK8) some time ago so funds are safu IMO.
Their current illiquidity crisis is due to them having to loan/stake coins to generate yield.
Celsius also doesn't have lockdown periods which makes risk management very tricky. Plus, they have zero-fee trading.
I can see Celsius becoming _the_ one-stop shop for novices once they release the card and on/off-ramp services.
This is not an ideal situation, but is perfectly acceptable when you consider where the yield comes from.