LEGIT OR NOT? Poloniex has simply introduced ludicrously excessive 65% rates of interest. However is it protected to lend them your crypto?
There’s an previous saying in finance: If a suggestion sounds too good to be true it in all probability is.
That must be your first thought every time somebody is pushing very excessive charges of return: say like HEX token’s declare it's ‘designed for 10,000x returns‘ or the varied ponzi schemes like PlusToken or Bitconnect which pay present customers ‘curiosity’ out of cash put in by new signal ups.
Poloniex is providing to pay you 65% curiosity for borrowing your stack of USD Coin (USDC), and a way more modest eight.5% for borrowing your Tether (USDT).
That’s MANY occasions higher than competing provides: Coinbase provides you with 1.25% for lending them your USDC, whereas Compound at present pays out eight.four%.
The bulletins of such an absurdly excessive rate of interest was greeted with appreciable skepticism after it was shilled by TRON principal man (and Poloniex investor) Justin Solar.
APR 65.46%？I've 100 million #USDC and need to deposit