So what's going on with PROVIDE???

So I noticed an announcement rewards % just changed radically (btc 10% to 3%, etc…). As I just came to remove my BTC from the pool (3% isn’t worth it) I noticed the rates just changed back…

So what’s going on?

How are the rates decided on?

How solid are they really?

(I was just going to add more funds but now with the eth fees and all I’m not sure how solid this whole thing is…)

Cheers!

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Rates are decided based on liquidity amounts in the pools. There has been a lot of discussion in regards to provide. Eventually, it will not exist anymore.

Not at all “solid”. The app plainly states “These (APY rates) are subject to change at any time.”

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Here’s something about the so famous eth fees…

Hey @Thomas_Edible,

Yes, the rates get back until liquidity 2.0 will be released. Probably they will update here tomorrow. Duc wrote this on Telegram yesterday:

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Did this telegram group just disappear? What’s going on…?

Also is there any risk keeping funds in PROVIDE at the moment? What’s the next solution and when will it come online?

Thanks abduraman!

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No, I can access it.

There is nothing new. Just rates got back.

Please see the topics in Progress category. As I remember, they have enough information you look for.

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Got it!
Thanks!

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Hey, I just made an announcement/confirmation for this at Provide rates rebalanced, really sorry for the unprofessional.

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Thanks!
Solid in terms of safe. How safe/secure is my deposit? I’m not concerned about the yeild % changing as long as my funds are safe and I can withdraw them securely… I’m trying to asses that risk would appreciate any information…