Watch out for Muso blockchain traps. What is the next scheme in DeFi’s clothing?

From June 2020, the DeFi market has become popular. However, with the popularity of DeFi market, various projects have emerged one after another, running together in the DeFi market. However, the quality of projects may vary. There may be some schemes or frauds among them, stealing the hard-earned money of retail investors, and then ran away.

Soon after the “Nine Ring” smart contract collapsed, another scheme called the Muso blockchain emerged on the market. It is not so much a blockchain, but rather a “low investment, high rebate” MLM scheme.

Muso blockchain

Judging from the project introduction, the Muso blockchain is advocated around the world under the clothing of blockchain and DeFi concept, claiming to have a strong financial background, and it was initiated by the Macedonian Block Financial Services Company. However, there is no information to prove the so-called strong background, not even an official website. It has no credibility at all.

In addition, the MSB license and RIA financial investment license that the Muso platform emphasizes is also impossible to find out, and it is not convincing at all.

After analyzing the authenticity of these data, let’s look at the model of the Muso blockchain. The DeFi launched by the Muso blockchain is nothing more than depositing coins to earn interest, using the concept of high yield to attract people, creating a living scheme.

Muso blockchain

According to its gameplay, if a user deposits 100+USDT, the membership income will show a daily increasing trend until the 7% cap is reached, and the income will not end until it reaches 3 times the participation amount.

Based on this calculation, the user’s capitals can be recovered in only 86 days.

It seems that it has no effect on users, but in fact, the purpose of such a design is to delay the payment time and facilitate the roll-out of money.

Think about it carefully. Can a scheme like Muso really last for 3 months?

In addition, the platform will also focus on a more far-reaching routine, namely: DeFi.

Muso blockchain

The Muso blockchain requires investors to convert the mainstream cryptocurrency (i.e. USDT) into the platform token (i.e. USDM), and then pledge mining to obtain more USDM stablecoin income.

However, it is very likely that from the moment the user invests, the USDT in his hand has been transferred, and the wallet contains worthless platform coins. In addition, the USDM obtained by participating in DeFi mining can only be cashed out on the platform or pledged to mine Muso tokens. The platform does not convert them into fiat currency, so the users cannot withdraw it even if they wanted to.

Therefore, it is best to discontinue now. You may stop the loss and gain a small part of the profit. Take the profit and use it to a formal blockchain platform, such as the NGK blockchain, which has passed the STO and obtained an MSB license. The most important thing is that the regulatory license can be queried. If you are still worried, you can also check the official websites of NGK and NGKEX. All information can be queried, which is very reassuring.

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