So 20% on stables is unreasonable? How about 16%? Thats fine Hello NEX* and Celsiu* /s

While the wounds are still fresh and people are smart how this was obvious… I don’t wont to be that guy, but lets address another elephant in the room. Lets make that two:

Why the heck is nobody looking at Nexo or Celsius? How are their APR justified and nobody has a problem.

I have opened this issue a couple of times here and got downvoted into oblivion. Maybe this is the time to have a hard talk on how no one can give you 16 % APR on your coins and how not your keys = not your wallet is the first commandment of this sub.

I like how r/CC keeps preaching the same things over and over… and how still nothing changes.

Being truthful to all… will the real Nex\* and Celsiu\* users please stand up, please stand up, please stand up.

EDIT: More clarification for people saying if loan rates are higher than what you are getting back, “Then its OK”. Its not as you are assuming that someone is actually taking a similar amount of capital as loan as is being staked. Which is obviously not likely and wishful thinking.

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8 thoughts on “So 20% on stables is unreasonable? How about 16%? Thats fine Hello NEX* and Celsiu* /s”

  1. Just a quick note that I’ve been holding everything in nexo and that I’ve withdrawn everything to wallet today morning just in case…

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  2. It does depend on the loan rates. If the rates are higher than what you get for lending it makes sense.

    No clue what the loan rates are though.

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  3. The issue with some of the centralized protocols is that you don’t really have access to all the data to make a judgement call.

    This is part of the reason that I like DeFi. You can see what the loans are going out as, you can see the oracle used, you can see the collateralization factor that is being used, you can see how the liquidations are being done, you can see what coins the protocol is lending/borrowing. All of these factors allow you to make a better judgement call.

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  4. Sometimes the high APY is given to coins that have high inflation rates through staking. Often times these lending platforms will offer less yield than what you can do staking those coins yourself.

    I’m earning 7.1% on USDC on Celsius, which is not near 16% and has been decreasing over time.

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  5. The difference is that Nexo and Celsius won’t be dead if they lower APYs.

    Look at CDC or Coinbase, it’s still alive and no near death, by any means.

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  6. I would always look at services like these and be cautious. I don’t use celsius currently but I only pulled out because I could get the same rate on staking matic at kukoin and not have to have any real wait period to get my coins off and sell if needed. Typically you’ll find celsius is offering rates slightly lower than what you can get yourself so it becomes more convenience than anything with these services.

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