Finblox has stopped filming, community outraged

Finblox has stopped filming, community outraged

Finblox, the crypto staking platform backed by Three Arrows Capital (3AC), has stopped reward distribution and lowered withdrawal limits. Community members, on the other hand, expressed their concerns about their assets and called for transparency and decentralization.

Finblox shared on Twitter. in the shipment He explained that the impact of 3AC’s status on the company’s liquidity is being evaluated. The company stopped the reward distribution for all users during the evaluation, and reduced the monthly withdrawal limit to $1,500.

Most users of the platform are disappointed with this decision and they are frustrated that they can’t withdraw their money. conveyed. Some other community members point out that the 90 percent annual interest Finblox offers to Axie Infinity Shards (AXS) stakers is unsustainable. started.

Finblox user Terence Lee said he withdrew all assets from Finblox at the time of Terra’s collapse. stated. According to the user, Terra’s case makes it clear that high-interest platforms are “taking too much risk.”

Commenting on the current situation, Twitter user Gofortim2 called for loan platforms to be more transparent.

Gofortim2 added that projects should now begin to consider reducing the rate of profit they offer, as high returns now worry users about the security of their assets and thus become an ineffective tool for attracting users.

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