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Molly White (molly0xfff@hachyderm.io)'s status on Thursday, 09-Jan-2025 07:08:40 JST Molly White

filed under “Reddit comments that didn’t age well”
#crypto #cryptocurrency #Terra
In conversation about a month ago from hachyderm.io permalink
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1. u/tjnich04 avatar tjnich04 • 4y ago what are we risking by placing UST into anchor and earning 20% APY? is the only risk in trusting anchor to not rug pull? how legit is anchor? Upvote 3 Downvote Award Share Share alleyehave • 4y ago Anchor is designed and orchestrated by the team behind all of Terra. And if you do 5 minutes of homework on that and the VCs that back them, you'll know its legit. But yes, the biggest threat is a rugpull, and that risk is as minimal as possible in the defi space with the Terra team. Upvote 4 Downvote Award Share Share u/FearTheSid avatar FearTheSid • 4y ago By the power of defi my friend. You realize that banks could give you 20% apy and they would still be making profits right? Upvote 3 Downvote Award Share Share u/PtiCon avatar PtiCon • 4y ago Be more specific please. How? Where these 20%++ come from ? Who pays 20% to the bank and is happy with that to do it again and again, and why? I see a lot of luna enthusiast saying this specific sentense but i dont get it and no one has been able to explain so far. Wouldnt be all just hoping? Thank you.
  https://media.hachyderm.io/media_attachments/files/113/795/013/920/899/395/original/49844821ebe7cb90.png
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  Adrian Tombu 🦀 (to@hachyderm.io)'s status on Thursday, 09-Jan-2025 07:11:47 JST Adrian Tombu 🦀
  in reply to
  
  @molly0xfff « You’ll know its legit » 🤡🤡🤡
  
  In conversation about a month ago permalink
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  Molly White (molly0xfff@hachyderm.io)'s status on Thursday, 09-Jan-2025 07:34:30 JST Molly White
  in reply to
  - aproitz
  @antonproitzelhaimer APY is a common acronym when talking about interest: https://en.wikipedia.org/wiki/Annual_percentage_yield
  In conversation about a month ago permalink
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  1. No result found on File_thumbnail lookup.
    
    Annual percentage yield
    
    Annual percentage yield (APY) is a normalized representation of an interest rate, based on a compounding period of one year. APY figures allow a reasonable, single-point comparison of different offerings with varying compounding schedules. However, it does not account for the possibility of account fees affecting the net gain. APY generally refers to the rate paid to a depositor by a financial institution, while the analogous annual percentage rate (APR) refers to the rate paid to a financial institution by a borrower. To promote financial products that do not involve debt, banks and other firms will often quote the APY (as opposed to the APR because the APY represents the customer receiving a higher return at the end of the term). For example, a certificate of deposit that has a 4.65% APR, compounded monthly, would instead be quoted as a 4.75% APY. Equation One common mathematical definition of APY uses this effective interest rate formula, but the precise usage may depend on local laws. ...
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  aproitz (antonproitzelhaimer@mastodon.social)'s status on Thursday, 09-Jan-2025 07:34:31 JST aproitz
  in reply to
  
  @molly0xfff
  I don't understand this #Cryptoshit-#Language. What is "apy" and all that Stuff ! It reads like #Sharks talking to #Herrings to swim in their #Mouth, ha ha. Must be something like that.
  
  In conversation about a month ago permalink
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  Darryl Ramm (darryl_ramm@hachyderm.io)'s status on Thursday, 09-Jan-2025 08:44:21 JST Darryl Ramm
  in reply to
  
  @molly0xfff
  Name anything you learned from doing 5 minutes of homework. 🤷🏻♂️
  
  In conversation about a month ago permalink

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