At the time it seemed like a great idea because Binance claimed you could get up to 20% cumulative interest pa (shocker, they lied).
Actual real interest was closer to the 4-5% pa range and now it’s falling as we come closer to the implementation of ETH 2.0. I suspect we might actually see it hit ~1%.
The issue is you can’t unstake without sacrificing a whopping 4-10%, which is unfortunately considering there are so many better deals now for ETH deposits (CDC, for example, offers 4.5-6.5% on a 3 month term).
Moral Of The Story: Read the T&Cs and don’t take a bad deal just because it’s the only deal you have in front of you. Remember that something better might come tomorrow!
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