Theoretically, what is to prevent Donut / DimeFi / Outlet / Stable from running off with my money?

I’m aware these types of stablecoin-backed high-APY “savings” accounts are not FDIC-insured. Beyond that, I’m wondering if there is really anything preventing one of these companies from riding off into the sunset with everyone’s balances. Thoughts?

**Edit:** Does anyone have any real-world examples of this happening, either maliciously, or by genuine collapse of one of these companies? I am wondering how much real world basis there is for all these potential risks.

View Source

2 thoughts on “Theoretically, what is to prevent Donut / DimeFi / Outlet / Stable from running off with my money?”

  1. The only thing stopping them is the law, that’s why doxxed founders and legal registration is so important with these types of companies.

    Reply

Leave a Comment