> AFAIK that was limited to the first $10k in deposits, so it seemed plausible as a some sort of customer acquisition cost $800 per year per customer? Ehh. Als

> AFAIK that was limited to the first $10k in deposits, so it seemed plausible as a some sort of customer acquisition cost $800 per year per customer? Ehh. Also, above $10k and up to $10m it was 5%/yr... which I think breaks that explanation as no one is going to argue that a half million dollars a year is a reasonable customer acquisition cost! :) > going rate for decentralized lending protocols, Don't use euphemisms here, the term is ponzi schemes. These yield programs were across the board ponzi schemes with no substantial source of income other than the deposits of other users. (and don't let the fact that Bitcoin critics have called it a ponzi scheme in the past confuse you: Bitcoin has never promised a yield, it doesn't need a source of income. The fact that bogus criticism uses a word doesn't make it less legitimate where it applies.)