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/biz/ - Business & Finance

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28138354 No.28138354 [Reply] [Original]

does this ultra high apy have any sense? im thinking on buying to get in. Binance does this because they think avax is going down now so you give them avax, they sell it and when the staking is over they buy and return it to you?

>> No.28138434
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28138434

>>28138354
fuck im stupid, this is the apy

>> No.28139375

Good question fren

>> No.28140408

max staked amount is like 30 avax, and it's only 32.79% apy for the 15 day period (if you try to choose 30 days the apy is only 8.79% instead), so they don't actually give you much return. it's probably just a promo to get people interested

>> No.28141125

It's to provide liquidity for traders that want to short it. The APY is the borrow rate that's going from traders to you