Bank-of-tron.com: SCAM or LEGIT?

in Quello5 years ago

I recently joined the Bank-of-Tron project, it has very high interest rates, but I don't know if it is scam or not?

This is the project: https://bit.ly/3ffxBS2


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Looks like the question itself is a scam.

It is obviously a Ponzi scam, meaning that the payments of the new members are used to pay the first members so that they are encouraged to invite more people into the scam. No company with legitimate activities will be able to provide that high earnings without getting bankrupt quickly.

No, I don't think it's a scam (althought everyone is calling it one). It seems to be a basic DeFi app with the ability to make a daily dividend. You also get a referral percentage for referring new users. While it does require new members coming in for the others to get out it currently has a 250 Million TRX contract balance and has been going on for over a year making it the largest and one of the longest running dapps on TRON.

If you want to check it out for yourself here is the official dapp link: https://bankoftron.net

The reason I think it's not a scam even though it is obviously a ponzi is because a ponzi isn't nessarily a bad thing. Most ponzis end when the creator runs off with the loot. Where since this is decentralized, nobody has the ability to run off with everyones money (as far as we know). If there was some type of developer backdoor you think they would have exploited it by now. With that said it is still a high risk investment and you should proceed with caution. Like always don't invest more than you can afford to lose. Stay safe!