Terra
Terra and UST was built with a Ponzi scheme, with very high APY up to 20%. Below is a remarkable point on its vital Achilles.
Quote
The large demand for UST was driven because of a savings protocol called Anchor on Terra’s blockchain, which promised 20 percent in annual percentage yield
The Ponzinomics were just too obvious: When you pay money for nothing, and stash your nothing in a protocol with the expectation that it will give you a 20 percent yield—all you end up with is 20 percent of nothing.
The Ponzinomics were just too obvious: When you pay money for nothing, and stash your nothing in a protocol with the expectation that it will give you a 20 percent yield—all you end up with is 20 percent of nothing.
FTX
Months ago, I am not sure when but maybe in 2020 when transaction fee on Ethereum network was very very high and expensive as consequence of DeFi and NFT hypes, FTX is a first or only exchange which waive withdrawal fee on ERC20 chain for users. The cost for them during those months should be very expensive.
Honestly guys, I enjoyed it as many of you but I have never stored my money on that exchange too long. Back in that year, I did not like their user interface too and maybe it is another reason which keeps me away from FTX exchange.
As usual there is always something that we should watch out for when dealing online. You have seen some of these loopholes as a sign for something not right and was able to take the hard decision not to leave your coins there. I think it is right when we see these things to stay outside and watch maybe we could be right some day in our observation. I have not search this myself to confirm what your point is but if I see traces of something being too good of an offer, my sixth sense is activated.
