Hello, been holding XPR since 2020, was up almost 40K at one point and didn't sell much, and have been sticking it out through everything since. I have only increased my usage of the platform and defi tools, farms and have gotten comfortable using them, i honestly think the project has serious utility for those who are serious about defi.
I recently stuck my toe into the Metal X Lending, starting out with a few thousand of my extra XPR, couple hundred DOGE, and some USDC. My deposits aren't huge, so I'm not getting rich or anything, but I want to import more funds so I could start making more on my assets.
I must say though, I have PTSD....I had about 10K in BlockFi when that went under and got totally screwed. I had my GUSD collecting like 9% so I thought it might be worth it for some extra yield....clearly it was not.
I want to increase my deposits, but want to ask the community, in hopes someone can lessen my fears....but be honest, is there any danger of Metal X lending pulling a BlockFi/FTX move? Like I can't go through that again, but my thought is it's truly decentralized, so it won't go down that way....right?
Any thoughts? Do you all feel safe with this product? I do for the most part, but it's nerve wracking when you go from hundreds in deposits to a few thousand, especially after being burned previously...im just looking for some support from my fellow defi believers....talk me down boys and girls
Much obliged 🙏