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TokenBaby

Earn 5% on XRP on Uphold!

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7 minutes ago, TokenBaby said:

https://uphold.com/en/apps/app/credearn

CredEarn is currently available to Uphold members outside the United States. The Cred team is working to make this product available to the U.S. market in the coming months. You must have an Uphold account to access CredEarn.

 

This looks interesting but I have a few questions, not sure if you are able to answer. 

1. How do they use the loaned digital assets to generate revenue and pay for the interest?

2. Do they lend the DAs to short-sellers who will then borrow them to short-sell the market?

3. What kind of risks will the participants bear in such an arrangement?

4. Will the interest be paid in the DA equivalent or in fiat?

5. Can we construe the difference in projected interest rates across the DAs as an indication of the pricing pressures that are applied to the respective DAs?

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6. Is this in the wrong section? 

Apparently it was. 

Now that this has been moved I'm comfortable saying this without it sounding like I'm trying to shill. Truth is I'm straight up shilling!

I frigging love Uphold! And I'm sitting on some LBA so feel free to buy the living crap out of it! 

Edited by LordVetinari

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46 minutes ago, Cobalt said:

This looks interesting but I have a few questions, not sure if you are able to answer

I've been looking, signed up for their early access.  Still no details, I cant tell how they are doing this.

I think they have their own "coin" in conjunction with some other players. Not sure how that is built into the service's design?

I have ideas of how, but no real way to tell which methods are being used. If anyone finds actual details, please share.

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8 minutes ago, princesultan said:

Do they insure holdings held on exchange? This could be interesting...

If it’s insured - verifiably, legitimately, completely insured - this would be very interesting. I doubt this is the case, therefore can’t risk leaving XRP sitting on an exchange no matter how much I trust uphold.

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1 hour ago, Cobalt said:

4. Will the interest be paid in the DA equivalent or in fiat?

For what it says...

They pay your interest in Fiat or Stablecoin...

15 minutes ago, princesultan said:

Do they insure holdings held on exchange? This could be interesting...

This is what they say

Quote

Is CredEarn FDIC insured?

Cred is not a bank and the CredEarn product is not FDIC insured.

 

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You may also want to check out celsius network. I have been earning 5.1% apr interest on some xrp for a while now. The interest is paid like-for-like, ie, I receive the interest as xrp. LTC just got increased to 6.15% apr. They use BitGo for cold storage. Of course, there has been no third-party audit yet so this could all be bs.

DYOR.

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