Oct 6, 2022
StableFund 3 Weeks Review | Staking +500 Matic
StableFund is a crypto wallet that enables storing, swapping, and staking. But in reality, 99% of users are most likely using it because of the staking mechanism, which offers 1.5% daily rewards.
That 1.5% daily reward is powered by the State of The Art AI Trading bot, more on that later.
In this article, I will be sharing a walkthrough, my results, and the pros and the cons of the platform.
Currently, you can store ETH, AVAX, BNB, BUSD, MATIC, FTM, and their native token SROCKET. But staking is only available for BNB, BUSD, and MATIC.
Stake and Earn
StableFund is mostly known for the crazy 1.5% Daily reward on investment. Their bot is fueled by the funds that we deposit and takes trades to return an avg of 1.5% daily.
Myself, I decided to put around 540 MATIC to test it out.
Here’s how it works;
You first transfer your funds to your crypto wallet.
Second, choose the coin and the amount to be staked.
There is a 3% initial depositing fee, nothing else, no claiming or any other tax.
There is a locking period of 28 days, which means you are able to withdraw your rewards but your funds are out of reach for this period.
Here’s a picture of my latest transactions:
I did 3 deposits in a matter of 2 days of over 550 Matic, knowing that some would be used to pay the 3% fee and knowing that I should leave some Matic to pay for the transaction fees.
Just like any other wallet, because this is on the polygon network, I have to use Matic to pay for my fees.
Here are my staking transactions:
The latest (14.55) was today, to showcase it on my video review on youtube. Check it out:
In total, I have a little bit over 550 Matic staked.
Now, let’s talk about the money I have made. For this, we will be using my spreadsheet.
I have cashed out $110 and compounded $12. The current ROI is 23% so I still have 77% more to go.
That is of course not taking into account that in the end, I will be able to withdraw my capital.
From the transaction picture, you can see how I have been moving out of the crypto wallet for my rewards. Sometimes I sell my Matic for a profit, and sometimes I move them into a long-term investment portfolio.
Based on the current price of Matic I am making around $6 per day and should get my ROI completely in less than 2 months.
Pros & Cons
They are a legitimate business, registered, and have an app on IOS. To do all that I guess there is a good amount of paperwork and doxxing involved.
But having a legitimate business and a doxxing team is not as safe as we think. Celsius, Voyager, and many others are good examples of it.
Staking has a bad rep after the Celsius fiasco, and offering a 1.5% daily reward can be hard to believe. Nonetheless, I have seen crypto bots making single digits profit day after day.
But doing it consistently is what can be hard to believe. They need to be making at least 2.5% to be running a successful business. They need to pay the team members, rent an office (if they have one), marketing budget, emergency funds, etc.
My biggest concerns are:
1- There is no face for the company. At least for now, the founder “Michael” hasn't shown his face. I know that they are running a boot at a Dubai event, so he should come out by that time.
2- Is there really a bot, or is this just a Ponzi? I do understand that they cannot show the bot and their strategy to avoid someone copying them and losing market share, but I am still skeptical.
3- There are no other revenue streams (for now) other than the bot. I know that they are working on some other things like NFTs, but I would love to see something that is not attached to just a bot or NFT.
Having other revenue streams means having a backup in case the bot stops working for a few days.
Now to the good stuff:
The project has been working for months with no FUD. I haven’t seen people complaining about withdrawing rewards or capital.
They are consistently doing AMAs answering all the hard questions.
If the bot is really making 1.5% (which is possible) then there should not be any issue over the long run.
They have raised a crazy amount of money. Just on Matic, there is 50,815,119M staked. With a total reward paid of 28,645,091. That means, there is more than enough to keep paying investors.
Their marketing is really good. They have been on time square, and slowly taking over youtube and Twitter.
This is all I got for today’s review. I will be back in a few weeks for another review.
Thank you for reading!
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Link: https://defichronicles.gumroad.com/l/xwwln
Disclaimer: This is not financial advice, I am just a guy with a laptop sharing his opinions and experience. This is for entertainment purposes only. Always Do your own research before investing.
