Same red flags with $USR
When will people learn?
kinto is shutting down today, and the users who lent them 750k USDC in hopes of a 50% APR won't even get their full capital back (~76% only).
This loan was conducted on Wildcat, a platform for undercollateralized loans.
There were too many red flags:
- very high APR on stables -
not sure where the yield will come from.
- kinto was just hacked at the moment - they didn't even have revenue to justify their APR.
Feeling bad for users who fell for this.
Always DYOR.
891
0
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.