Ring Financial, and now Infinity Cash Financial - doesn't smell very good!

in #ring3 years ago

A few days ago, I discovered Ring Financial on Binance Smart Chain. They had a terrible looking website and a project that promised you an APY of 2400% for the rest of your life. Now, that was shady in itself, and the website just made that impression even stronger.

Luckily, for them, they have now redesigned the website and it at least looks better, even though there is a problem with the basic concept of the platform. But, what makes it all the worse is the fact that it seems to be have been forked into something called Infinity Cash Financial. That one is also running on Binance Smart Chain and they are operating with a website looking just as bad as the first version of the Ring Financial website. It is almost like a copy...

Now, the fact that a concept is forked doesn't make it a scam. The fact that there are lots of OHM forks that scam, doesn't mean that OHM is a scam. So the fact that Ring Financial has been copied or forked or whatever by Infinity Cash Financial doesn't make the first a scam, but I would be careful with both of them, considering that Ring Financial is promising us returns based on their investments in other platforms who themselves do not even guarantee such returns. Of course, many OHM forks give you an APY higher than 2400%, but that isn't forever, and it is expected to decrease a lot with time. And when that happens, how will Ring Financial be able to keep their APY this high?

Smells bad, doesn't it?

Coin Marketplace

STEEM 0.18
TRX 0.16
JST 0.029
BTC 62261.48
ETH 2423.39
USDT 1.00
SBD 2.66