/biz/ - Business & Finance

Just read the following LP article.

https://medium.com/linkpool/owners-contract-upgrade-ownership-staking-and-limits-e80ffe3c3e00

LP staking limits from 6–12 months: 10 million LINK+ (Over 10k LINK per LP) at the current link price that equates to $18 million collateral on the LP ecosystem. Either Jonny and co know something we don’t or this is complete pie in the sky BS.

With staking going live in the next couple of months, does anyone really believe LP is going to service multiple contracts that require $18 million collateral (and all within the next 8 months?) Not a chance. For once I wish folks in the crypto space would show some realism and communicate with honesty and integrity. Wishful thinking.

Explain this then idiots! Linkpool constantly states that staked link never leave a persons Wallet. Linkies are essentially safe as… You get the idea.
So what happens if a penalty needs to be paid? Linkpool has already told us our Link can’t be removed from our possession. So, how is the penalty paid? In essence, what is the point of staking with LP? Even if LP incurs a penalty, stakers can’t lose there Linkies. Which means that Linkpool is completely worthless. The collateral they claim to have is useless. Just numbers on a page. I repeat it’s essentially impossible for them to pay penalties. This type of staking pool is utterly worthless, unless you hand over all your hard won link to the team, and who in their right mind is going to do that?
I bet no one can argue against this. 50 ETH for a toten. LOL