- The Libero website states that holders can receive a 132% return in just 14 days.
- Coinbase estimates the token’s price grew 132.3% in the week ended on February 14, 2022.
- The coin is traded on cryptocurrency exchanges CoinW and PancakeSwap (V2).
The Libero Financial (LIBERO) crypto, which runs the Libero Autostaking Protocol (LAP), claims to deliver a fixed APY (annual percentage rate), growing rewards every 30 minutes.
But is this for real?
On Wednesday, the LIBERO crypto jumped 15.30% to US$0.006465 in the trailing 24 hours to Wednesday morning. In the same period, its trading volume was up 64.56% to US$1,386,277.
According to coinmarketcap.com, Libero’s simple buy-hold-earn system allows faster investment growth, with a fixed daily interest of 2.02% or 158.8.59% annually.
Its self-reported circulating supply is 5.8 billion, and the market cap is US$37,781,894.
The coin is traded on cryptocurrency exchanges CoinW and PancakeSwap (V2).
But some observers have questioned if the protocol could deliver the returns as promised.
The Libero website states that holders can receive a 132% return in just 14 days, and users can encash 1% of their holdings daily. It also claims that after 15 days, Libero will grow by 2.04%.
Libero also claims to offer ROIs at regular intervals.
For instance, Libero claims to offer a 34% ROI after 37 days, 236% after 70 days, and 323% ROI after 100 days. That may sound amazing. But analysts say it is unrealistic, though they do not deny that compound growth may be possible if linked with a treasury-backed currency.
Coinbase estimates the token’s price grew 132.3% in the week ended on February 14, 2022.
Also Read: Why is Stellar (XLM) crypto rising?
How the Libero Financial Protocol Works
The designers claim Libero stakes and compounds interest in a wallet, and it distributes rewards at least 48 times a day. It also reportedly burns 4% of its coin supply each week to rein in inflation.
Observers argue that Libero’s offers of a Risk-Free Value Fund are deceptive since nothing is risk-free.
Libero claims its DeFi 3.0 multichain farming can generate higher returns by linking the Risk-Free Value Fund to Ethereum Virtual Machine (EVM) blockchains like Solana and Polygon.
However, it appears too good to be true for some.
It has all the characteristics that a Ponzi scheme typically asserts. For instance, the promise of high returns with little or no risk, continual returns, guarded and complex strategies.
Libero’s BEP20 token is based on the Binance Smart Chain compatible with ERC20 tokens.
Libero was coinmarketcap’s 3109th largest cryptocurrency on March 9.
The crypto market is volatile and prone to scams and online frauds. Hence, investors should carefully evaluate the companies and the broader market before investing in cryptos.
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