There's always someone trying to make that kind of money!

Stablegains' 15% annualized The most important thing in the currency circle do your own research.

When the capital of the stock market is withdrawn from the currency circle, the same problem is encountered. If you are a long-term investor, you need to find a stable target.
Luna/UST also let everyone see the risk this time

—— The following news is from Sangbi——

According to the information shared by Twitter user FatMan, a CeFi service provider named Stablegains had previously exchanged all user funds for UST and invested in Anchor to earn nearly 20% annualized income. In this incident, almost all investment was lost. people's money.

Stablegains promises 15% annualized income to deposit users, and converts all USDC and USD received into UST and deposits them in Anchor, earning 4% income as an intermediary. Stablegains allegedly lost about $42 million from 4,878 customers in the incident.

In addition, Stablegains also changed the user terms after the incident, and the original promise not to allocate all funds in a single stablecoin has been removed from the terms. Another Twitter user pointed out that the Stablegains team announced in Discord that unless users take UST out of the platform, they will not get the new LUNA token airdrop after the Terra fork, forcing investors to bear the loss in disguise .

The well-known venture capital Y Combinator has participated in the $600,000 financing completed by Stablegains in December last year and the $3 million financing completed in April this year.