DeFi noob here, I park my money in a few stablecoins right now getting like 8% APY but saw a 4% APY Defi savings account plus chances to win $10m every week on an app called Yotta, is this legit?
Not going to link to them but Yotta calls it a "Crypto bucket" and the whole thing sounds sus af. I guess the 4% APY is pretty low relative to other defi savings and stablecoin savings accounts out there but the whole win $10 million just by parking money in a crypto savings account doesn't sound very legitimate. Maybe they're pocketing the difference between whatever stablecoin yield they earn and the 4% they pay out to users and putting it into a prize fund and assuming nobody will win the jackpot until they've earned enough yield?
Ingrandisci immagine - Repost: DeFi noob here, I park my money in a few stablecoins right now getting like 8% APY but saw a 4% APY Defi savings account plus chances to win $10m every week on an app called Yotta, is this legit? (from Reddit.com)
Not going to link to them but Yotta calls it a "Crypto bucket" and the whole thing sounds sus af. I guess the 4% APY is pretty low relative to other defi savings and stablecoin savings accounts out there but the whole win $10 million just by parking money in a crypto savings account doesn't sound very legitimate. Maybe they're pocketing the difference between whatever stablecoin yield they earn and the 4% they pay out to users and putting it into a prize fund and assuming nobody will win the jackpot until they've earned enough yield?
Ingrandisci immagine - Repost: DeFi noob here, I park my money in a few stablecoins right now getting like 8% APY but saw a 4% APY Defi savings account plus chances to win $10m every week on an app called Yotta, is this legit? (from Reddit.com)
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