Earnpark - crypto yield farming - reviews?

[Nigital Domad]

Anyone have experience staking / earning at Earnpark?

 

[cryptofriendly]

Looks a bit too good to be true.
Something about it feels off.

 

[JackAlabama]

Anyone have experience staking / earning at Earnpark?

didnt even look at it but im convinced its bad.
you can farm in tradfi now with options on mstr or msty. Much better than using some obscure crypto crap.

 

[Frankie]

Every time you hear "Yield farming" you need to replace it in your mind with "ponzi", as they all end the same way

 

[AndyAresa]

you can farm in tradfi now with options on mstr or msty. Much better than using some obscure crypto crap.

Hello JackAlabama, thanks for sharing this. can you give some details on this or where to read in more depth?

 

[polonieth]

Anyone have experience staking / earning at Earnpark?

Not your keys, not your coins. Don't pick up pennies in front of freight trains. Just look at the history books of how many people got wrecked by Celsius, Soy Bankman Fried etc.

What an awful website, too, so hard to read and scroll through. Look at this:

What are the risks?

"We create strategies with various risk profiles that provide one of the best returns on the market. We do this by diversifying instruments, software, and algorithmic trading methodologies.

Profitability always correlates with risk! We do not claim to be risk-free, but in terms of strategy, we try to mitigate the risk to the maximum."

Lol, what a transparent explanation.

There needs to be more options for minting your own rewards, without needing shady middlemen. https://hex.com/howitworks is obviously one but like all alt coins is way down from it's highs a few years ago.

 

[Simon4466]

https://find-and-update.company-inf...any/OC442773/persons-with-significant-control

Seems like one of the PSCs (90, de passage Amsterdam) has his correspondence address in a hotel (this is what I see from Google Maps)... And the other one seems to be in the Party office of the Catalonian party in Barcelona, although it is written in a way that I am less sure about that one (harder to find on Maps).

 

[JackAlabama]

Hello JackAlabama, thanks for sharing this. can you give some details on this or where to read in more depth?

on X. MSTY community or some options trading ones.

 

[polonieth]

https://find-and-update.company-inf...any/OC442773/persons-with-significant-control

Seems like one of the PSCs (90, de passage Amsterdam) has his correspondence address in a hotel (this is what I see from Google Maps)... And the other one seems to be in the Party office of the Catalonian party in Barcelona, although it is written in a way that I am less sure about that one (harder to find on Maps).

Would you feel more confident if they were easier to locate or based in some major city in a corporate office? Not sure I would.

FTX were seen as pretty above board and look what happened. Glad I never touched it, be even more annoyed looking at how much SBF investment in Anthropic is now worth compared to when administrators sold it.

 

[Simon4466]

Would you feel more confident if they were easier to locate or based in some major city in a corporate office? Not sure I would.

FTX were seen as pretty above board and look what happened. Glad I never touched it, be even more annoyed looking at how much SBF investment in Anthropic is now worth compared to when administrators sold it.

Are you kidding?

 

[ilke]

Would you feel more confident if they were easier to locate or based in some major city in a corporate office? Not sure I would.

Yes, I would be more confident if the company wasn't owned by 2 Russians that provided completely fake addresses...

What kind of question is that?

 

[polonieth]

Are you kidding?

FTX looked buttoned-up; you had the FTX Arena, other high-profile endorsements, celebrity partnerships, and investor backing. SOY Bankman Fried was in front of congress and on TV all the time. Still based in the Bahamas mind.

I am simply stating that, despite all that, they still collapsed. So even if Earnpark were more transparent about their directors and weren't living in a hotel somewhere, I still wouldn't go near it. Not your keys, not your coins.

 

[Simon4466]

I mean yes but the only point you were making is that FTX did some things correctly?
Like your entire point is that just because something that looked like chocolate turned out to be sh*t, that now sh*t would taste like chocolate.

 

[Simon4466]

>So even if Earnpark were more transparent about their directors and weren't living in a hotel somewhere, I still wouldn't go near it. Not your keys, not your coins.

Agreed

 

[polonieth]

I mean yes but the only point you were making is that FTX did some things correctly?
Like your entire point is that just because something that looked like chocolate turned out to be sh*t, that now sh*t would taste like chocolate.

You posted that the correspondence addresses of their LLP Directors were a red flag.

Which they might be, but even if their addresses looked all fine and dandy, my point is that you should still not go anywhere near these services; they are not what crypto is about. Not your keys, not your coins.

And I compare to FTX as they looked "safe" - Blackrock on board, SBF public facing and in front of congress, looked to be getting on great with the regulators. Yet they still collapsed. So ALL firms of this nature are best avoided regardless of how transparent they appear. Don't pick up pennies in front of freight trains.