StellaSwap launches gas refunds on Moonbeam!
Posted Jul 6, 2022, 2:40 PM UTC
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How is it possible to refund 100% of fees just because you stake 10.000 xstellar?
That is insane, and does not sound economical possible.
Is it for a limited time?
25% reduction/refunded is one thing but 100% is another.
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Disappointing that not in the medium post they tell people where the money come from?
- They are in essence training people to get scammed by training them to not ask questions and just assume that "too good to be true" is true >_>
- Scandal.
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It is such a classic scammer move to promise the impossible (like 100% cashback on gas fees).
- That I have to warn people before they invest into StellaSwap.
1) The name made me assume it was a DEX migrating from Stella(XLM) blockchain. But that does not seem to be the case. It was launched January 2022:
StellaSwap Docs: https://docs.stellaswap.com/resources/general-faq
Company Info: https://www.crunchbase.com/organization/stellaswap
2) They promise the "impossible" on paper.
3) They try to get you to take a "loan" on your staked tokens as I understand it, and stake the loaned coins. That in itself is a huge warning sign.
It is like taking a loan to buy a house, and then after you bought the house, you take a loan on that house, so you now got 2 loans. That can work in real-estate if you are lucky and are best friends with the banks.
But it wont work in crypto. Here -95% is the norm and because it is a smart-contract margin-calling your crypto (taking it from you and selling it) you cant bribe the smart-contract/banker to not take all your assets (bankruptcy). In crypto this strategy wont work.
Donald Trump is the most known person for doing this and he is always saved by his friends/network when markets crash (when he is margin called by the banks).
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This is very bullish news for Stellaswap and Moonbeam. Imagine, people can participate in revolutionary DEFI system without getting rekt from gas fee. We just wait for more people learning about Stellaswap and we're gonna shoot to the moon.
The Moonbeam fees are already tiny compared to Ethereum, this just makes it even better indeed.