FUN Token Listed on Binance Savings - Earn Up To 45% APY!
2. Locked Savings: Tokens are locked in for a fixed period of time. You earn a higher rate of interest with Locked Savings.
With the Locked Savings program, you can earn up to 45% APY on your holdings! Subscriptions to Locked Savings are capped and on a first-come, first-served basis.
Can someone explain this to me like I'm a dummy? How can you possibly earn a guaranteed 45% APY over any period of time? All conventional wisdom says anything like this is a ponzi scheme, so I must be missing something.
Okay, FUN is a token owned by Freebitco.in
Binance is one of the largest and trusted Bitcoin exchange in this world, they also own the coinmarketcap.
You can trade FUN token on Binance and the existence of FUN hasn't started some months ago, it's very old coin. 45% APY on FUN is some kind of promotion that benefits the business and token. It's advertised on Binance, the exchange with the highest traffic and locked funds mean something like this: When there is a high demand on thing X and it's not available, the price on thing X increases. Overall, 45% APY on Binance is both, marketing and locked funds that can synergistically increase the price.
It's just an offer from Binance, they have necessary funds, scam won't happen unless Binance plans to scam its customers. And if you only think about 45% APY, it's not the APY of USD but the FUN token itself that was 0.068 in 4 April and is 0.016 today! If the price goes down from this point more than 45%, then you aren't actually benefiting from your holdings.