zlacker

>>donsup+(OP)
YC invested in what was clearly an outright fraud? Or did they pivot do hard that nobody noticed?

>>dmitry+A3
A poor decision does not equal fraud.

>>devout+94
Promising a guaranteed 15% return is fraud. There is no place in reality where you can * guarantee * that kind of return.

>>dmitry+g4
They explain the risks on their website: https://stablegains.zendesk.com/hc/en-us/articles/4402687751...

>>devout+E4
They explain the risks, while excluding the risk of, you know, the stablecoin depegging.

This is like the 10th algo stablecoin to eat shit. You would think by now, a risk person could adequately describe these existential risks.

Stablegains was a rent collecting middleman. The risks are not characterized adequately on this page, and there ought to be some level of liability.

>>bsamue+v5
“There is a non-zero risk that the peg does not recover to 100%.”

>>smugma+f8
If you’re taking this from their Twitter thread after this whole situation happened, that is definitely not the same thing as an upfront risk factor when collecting investments from people.

>>nrmitc+79
https://stablegains.zendesk.com/hc/en-us/articles/4402680705...

Article is from July 2021 (according to Google), updated 7 days ago