By smaller coins I think you mean meme coins. You can go to any main blockchain website and there's a builder or developer link that shows you how to create a coin, wallet, nft, smart contract, ... It's somewhat simple. You use a programming language but I consider it glorified configuration. I can sell you some RosyBucks to help you get started.
the presentation I heard was for a hedgefund that would invest in something like rosy bucks for the yield. I don’t understand why anyone would borrow your currency.
that’s my impression (without judgement) as well. That all this has been tried before and we are where we are because it didn’t work.
I don't know if people get yield off memecoins. Maybe some use cases are payday loans or store coupons or in game currency or a derivative based off the memecoin. You can attach any kind of logic to them so imagination is the limit.
the fund claimed they could get 20-30percent annual yields and the staking was to support these coins. They weren’t meme coins but lesser known ones. It was highly capacity constrained. I think they had trouble deploying 20mm
Maybe they are running a validator node and earning rewards. I think validators get more rewards depending on how many tokens they have which is where staking comes in. I read that some firm bought a validator for single digit millions so it seems profitable.
The people in crypto land is realizing that it is 100x safer to use the smartcontract version of the banking system When the traditional finance companies BlockFi, Celsius, Genesis, Voyager, and many others went bankrupt, not a single crypto smart contract financial system platform had any problems In fact, when FTX went bankrupt and stopped paying all the creditors and investors, SBF and Alameda were still paying hundreds of millions of $ worth of all their crypto smartcontract loans and obligations at AAVE, Curve, Compound, etc
I don’t know. They were either intentionally being vague or they didn’t know what they were talking about.
You can’t compare Bitget with FTX or Terra, mate. Over the years that i haven’t seen it with an hack issue whatsoever. That’s even why i use it more compared to others, I even just realized it established almost 500M protection fund to provide for protection for user assets. You might also check it out yourself