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Crypto.com advertises massively inflated APRs, to achieve those you need to hold a limited amount of the asset and a huge amount of CRO e.g. to hit the headlin
by shawabawa3 4y ago
Crypto.com advertises massively inflated APRs, to achieve those you need to hold a limited amount of the asset and a huge amount of CRO
e.g. to hit the headline rate of 14.5% APR, you need to hold no more than $3,000 of DOT and at least $40,000 of CRO (their own token)
the reason it's so high for DOT is that DOT is currently paying 15% APR to validators.
It's extremely shady what crypto.com are doing but not necessarily unsustainable, because they're basically lying about what APR you can get
- coffeebeqn 4y agocough FTT cough Holding 40k in CRO would be extremely unwise right now no?
- kikokikokiko 4y agoSo what you're saying is that it's just a garden variety Ponzi scheme, and not anything original. If you put 12 times the capital, they'll pay you "14.5%" yield on the principal. The moment they run out of fools to put this massive amounts of cash on the pyramid, it will go down as all Ponzis do. Crypto must die at this point, it's the only solution to this mess.