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Will any achieve that until they become to big to fail?
I'll be as blunt as I possibly can be. I don't believe that blockchain tech is capable of supporting a true decentralised DeFi service that has minimnal risk of failure. Not without operating as a centralised bank to some extent.
Bancor are payiong 17% returns on staking BNT at the moment. Do you honestly think that Bancor is being used by enough customers to generate transaction fees to pay out 17% APR?
Stonehedge-
Bancor are payiong 17% returns on staking BNT at the moment. Do you honestly think that Bancor is being used by enough customers to generate transaction fees to pay out 17% APR?
It was a lot lower a couple of days ago but it is an effect of the death spiral the linkpool are trying to create. They along with Celsius, 3AC, Greyscale are all withdrawing and receiving large amounts of BNT having suffered impermeant loss or selling their BNT holdings which is driving the BNT price down (down 60% this month), it is however leading to a lot of BNT being traded through the protocol and generating large fees currently. I think it is 42% of transaction fees go back to the pool in v3. The ending of ridiculous liquidity mining fees to the fee share model (and voted for by BNT holders). was to create a more sustainable model long term. Time will tell, it's all the wild west at moment. If they fail, hopefully others are watching and will incorporate any lessons learnt.
Guess I would partially just like to seem them succeed as they got their code copy pasted by Uni and Sushi and left behind in the Defi summer, would be good to see slow and steady win the race.
greentricky
Will any achieve that until they become to big to fail?