Poloniex Earn ~ 12% UST, to risky or solid eg want to avoid LUNA/UST EARN

[jubalix]

, Polo is offering UST at 12%. As per the title, is this unsustainable over the long term? For example, does it create a leveraged unwinding position like the UST/Luna fiasco?

I am in no way saying this is UST/LUNA,

but the 12% seems a bit high?

 

[1715091335]

1715091335

[1715091335]

1715091335

[1715091335]

1715091335

[1715091335]

1715091335

[1715091335]

1715091335

[1715091335]

1715091335

[blockman]

Just avoid anything related to Do Kwon's project even if they give a solid 100%, they've already got their stain and if you're okay to risk your money in there, proceed.
And knowing that this is an exchange, are you okay letting your funds sit there for a long time for the sake of those interest rates knowing that you don't hold your keys?

[fuguebtc]

, Polo is offering UST at 12%. As per the title, is this unsustainable over the long term? For example, does it create a leveraged unwinding position like the UST/Luna fiasco?

I don't use Poloniex, so I don't know what you're talking about, but for me, the higher the return, the higher the risk. All these easy, high-margin ways of making money always come with pitfalls or conditions that are never in our favor. So be careful.

By the way, I digress a bit, are you using Poloniex? I've known this exchange for quite some time but never used it. Is it safe? Do you have any problems using it? Because a friend of mine also asked about this exchange recently, but I don't know too much about it.

[FahriZah]

Don,t believe now Do Kwon,s because in the crypto currency market got biggest scammers Do Kwon example one terra luna. LUNA coins just play with every invertors and UST also same case now i don,t like Do Kwon any project.

[o48o]

, Polo is offering UST at 12%. As per the title, is this unsustainable over the long term? For example, does it create a leveraged unwinding position like the UST/Luna fiasco?

Umm, unsustainable next to what?

UST lost peg long time ago and it doesn't even exist anymore, not in kucoin or anywhere. There's TerraClassicUSD (USTC) but that's not pegged to anything, or based to anything either. So why would you buy anything like that? Again, one of the problems with UST was unsustainability against the usd peg. Unsustainability is not the key word here. Term you are looking for is pointless fiasco. It doesn't really matter how much staking it has. It's eventually going to zero.

[Apocollapse]

Do Kwon has been jailed since the last month [1] any centralized shitcoin value is depends on the CEO's reputation, this mean either LUNA or UST, it will not recover. UST is a stable coin, how you can still trust it when the price is never back to $1? currently UST is worth $0.015.

The price of LUNA or UST is keep decreasing, 12% return per year isn't worth it because it's useless you earn more token when the price is decrease more than the token you earn.

[1] https://www.wsj.com/articles/do-kwon-jailed-crypto-ceo-rejects-sec-fraud-allegations-3c631ebc

[jrrsparkles]

, Polo is offering UST at 12%. As per the title, is this unsustainable over the long term? For example, does it create a leveraged unwinding position like the UST/Luna fiasco?

It's been hacked in the past and they are insufficient with their reserves so I don't think its smart to trust them with your money from investors point of view. Infact staking itself a risky investment scheme for long term and making investment on high risky platform which is Poloniex just add more risk to it. Considering the risk reward ratio then 12% doesn't look worth.

[jackg]

There are defi ways to make 12+% on your coins (often around 30% but with some levels of risk like how well the tokens in the pool keep their value) and cefi ways to make about 4-6% so I don't think it's worth risking it on that one.

If they've not changed anything over with luna (like how the dao functions), they're probably going to face the same problems as before once someone has a large enough stake and incentive.

[Velemir Sava]

Of course this will jog the memory of its users like the story about Luna and UST but I also don't dare to jump to conclusions about the sustainability of APY 12% Poloniex in UST (TerraUSD). One more thing Poloniex is a well established cryptocurrency exchange and I think the stability and reputation of the platform is also at stake for the risks associated with it like the OP said.