Duo Nine | YCC Profile picture
Jun 6 β€’ 19 tweets β€’ 11 min read
1/ I received a lot of requests to look into #Freeway.

It promises 43% yield/year. πŸ€”

After Anchor crashed, many of you are eager to lose your money again. I have to oblige & warn you again!

"Is it safe? Should I send them all my money?"

Time to find out.

An exposΓ© thread πŸ‘‡ Image
2/ What is Freeway?

A rebrand of AuBit, founded in 2017.

They started the old fashion way in TradFi & then realized crypto is the new ball game.

Enter Sadie, a new fresh face with experience in crypto (the "CEO").

Spot anything suspicious? πŸ‘‡ Image
3/ Their whole team is made of old hats with a lot of TradFi experience turned into "crypto experts".

Sadie is just the new face of the rebranded AuBit now called Freeway. She's after your cash & she's excellent at marketing.

So what is going on here, really? πŸ‘‡ Image
4/ If you check Twitter & other social media you will see A TON of promotions about Freeway.

All these "influencers" are making a profit via commissions. You refer more people and you get more yield/year.

Starts to sound like multilevel marketing, right Sadie? πŸ‘‡
5/ Check this dude out, he made a 20-tweet promo thread about Freeway.

In the process, he inserted his referral code four times, but calls his research "objective".

If you sub to Freeway socials you can boost your yield by up to 10%! 🀣

So where is the cash coming from?! πŸ‘‡ Image
6/ Introducing SUPERCHARGERS or "simulations"!

You give Freeway your #Bitcoin/cash & in exchange, you receive worthless tokens that simulate prices! Seriously, check their site! 😲

Your rewards are in the same worthless tokens.

Do I need to remind you of Luna & UST?

Next πŸ‘‡ ImageImage
7/ In effect, they take your deposits & use them as collateral to max their leverage & do whatever (trade/invest).

Freeway is regulated, so they can't really play with your money, but they can use your money as... collateral!

Yay, free money machine again!

But there is more πŸ‘‡ Image
8/ Remember Luna unbonding time of 21 days? That rekt many during the May crash to 0.

They COULD NOT sell or liquidate their tokens.

Freeway calls it "notice period". 🀣

Plus you get more rewards if you go for 30 days lock! lol

Juicy stuff ahead πŸ‘‡ Image
9/ If you stake Freeway tokens or #FWT you get even more yield!

Wait, FWT token? Of course, I mean they need to maximize their game.

Launched in 2021, it pumped & dumped at least 6 times.

Those old TradFi team members sure know their game.

What or WHO pays the yield? πŸ‘‡ Image
10/ If you don't know, the source is likely YOU! πŸ˜…

There is no proof of funds/trading success/cash flow.

If they run out of liquidity, surprise!

Your SUPERCHARGER tokens are worthless + they can stop paying you overnight (tweet #6).

"But is it safe? Sorry, I am a degen." πŸ‘‡ Image
11/ That dude in tweet #5 says they have $150 mil in Assets Under Management (AUM) & can pay the yield until $250 mil AUM.

AUM = your money

This sounds a lot like Anchor's yield reserve discussions... you know how that ended.

Next πŸ‘‡

12/ They are likely using Freeway as a front cover to raise a lot of cash by promising unrealistic returns.

Then they use said cash for their own "legacy business" as collateral.

They also farm their users for marketing (via referrals) & via the #FWT token.

My assessment πŸ‘‡ Image
13/ Crypto is a new source of money for them & they mint worthless tokens in exchange.

These are totally UNREGULATED. Check their terms (pics)

1️⃣ Tokens = worth 0
2️⃣ Staked tokens = you don't own them
3️⃣ You can't sue them
4️⃣ You waive all rights

Can this thing crash to 0? πŸ‘‡ ImageImageImage
14/ If they leverage too much or they become bankrupt, yes.

Look at #Terra/ #Luna / #UST. $50 bil, GONE!

Remember, your money/deposit is probably collateral to someone else. You will NOT have priority.

You will be left holding the bag.

Next πŸ‘‡

15/ Will it crash to 0? Hard to say.

If you check their team, they look quite "professional" with experience in Cayman Islands & Seychelles (EU black listed tax havens). πŸ˜‚

This is an old wolf with new clothes, name & face.

Do you still want to invest in this now? πŸ‘‡ Image
16/ Always do your due diligence!

Check my Terra / Luna threads linked below as you will spot some parallels.

+ STOP falling for "influencers" telling you how great this yield is... it's a TRAP. Google multilevel marketing.

Also πŸ‘‡

evernote.com/shard/s349/cli…
17/ Read my #USDD thread and stablecoin guide to stay safe in this market.

+ AVOID inflationary tokens like #FWT. That is a NO GO in a bear market.

Lastly πŸ‘‡

18/ If you liked this thread, #retweet the first post to get more of this content in the future! 😍

Stay in touch + follow @DU09BTC:

Discord: bit.ly/3n2gng0
TradingView: bit.ly/3FUjwHj
YouTube: bit.ly/3p8vPdf
Newsletter: bit.ly/3BuXf13

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More from @DU09BTC

Jun 7
1/ I figured up Justin Sun's game with #USDD.

It's plainly obvious.

He plans to finish what Do Kwon failed to do.

Buy as much #BTC as possible now & then when it pumps, print more #USDD until the limit!

He's going long on BTC & will cash in into #USDD.

Next πŸ‘‡ Image
2/ They just bought 100 mil USDT worth of BTC in their reserve. They used to have 240 mil USDT before (see pics).

If Justin plays this right, he can print 10x more USDD in the future just due to BTC appreciating in price.

If he plays it wrong, he will risk USDD de-pegging. πŸ‘‡ ImageImage
3/ Luckily, he has 7 bil in #TRX market cap to defend the USDD peg as USDD mcap is still low.

With a bit of luck, USDD won't grow too much and during the coming bull market he can cash in billions as BTC / TRX pumps.

Not a bad game plan. Do Kwon will be jealous. πŸ‘‡ Image
Read 4 tweets
May 30
1/ 🚨 Major breach of resistance by #Bitcoin! 🚨

If this has follow-through tomorrow, this will be a major breakout.

Altcoins are even more bullish.

How will I play this? πŸ‘‡

A short thread. 🧡
2/ The best play right now is to ride this wave up and secure profit at the first sign of weakness on the daily timeframe.

I'd give this relief rally at least two weeks or max the month of June.

Then seriously consider taking profit & wait.

Why? πŸ‘‡
3/ The macro remains bearish and #Bitcoin may test the 200 weekly moving average (the blue line in the previous tweet) before any serious reversal.

Does the monthly MACD look like we're going to reverse soon?

NOPE!

Wait in fiat & accumulate at & under the 200 MA.

Next πŸ‘‡
Read 5 tweets
May 28
1/ #USDD is NOT a stablecoin! WHAT? 😲

Here's my review of the USDD cryptocurrency on #Tron network. #TRX

Read the above again. This is the label they used for USDD in their whitepaper!

A clear red flag & there are more.

You asked & I delivered. A thread. 🧡

πŸ‘‡πŸ‘‡πŸ‘‡
2/ What is #USDD?

USDD is a cryptocurrency native to #Tron network.

This is nothing big on its own.

However, if you thought USDD was a regular stablecoin, I got a surprise for you. πŸ‘‡
3/ Check out this abstract from the USDD whitepaper.

Highlights are mine.

Let me dissect that for you in more detail below.

There is a reason the whitepaper is so... vague.

It's pretty obvious what's going on. πŸ‘‡
Read 20 tweets
May 19
1/ On March 28 I made a thread on the top 10 reasons why we are in a bear market using stablecoin charts.

The only divergent signals (opposing this view) were from #UST & #USDT.

What happened since?

#UST went to 0 & #USDT lost $9 bil in mcap.

Next πŸ‘‡

2/ All reputable stablecoin mcaps were falling (#USDC, #DAI, #LUSD), except UST and USDT.

USDT has now corrected this divergence and is falling in the trend (pic).

UST was not so fortunate and crashed to 0 with more algo stables following the same trend: #USDN, #DEI.

Next πŸ‘‡
3/ UST did not have the backing to account for its mcap, hence it went to 0.

Why so bad? Because of a death spiral:

Buy 1 UST, burn it for Luna, sell Luna for $1. With $18 bil UST to burn for Luna, this crashed Luna's price to 0 and UST followed soon after.

Next πŸ‘‡
Read 9 tweets
May 9
There is $100 mil in Curve left to exit from UST.

Binance bids at $0.98 are being replenished with $10-20 mil every few min.

So far their defense looks solid.

Unlikely Do Kwon pockets can absorb hundreds of millions of sales per hour.

That is money he is losing/hour.
Ok, they ran out of money already, lol.
They refilled it. I suspect they may start selling Luna if they run out of cash... Luna is under $50 already... wtf.
Read 4 tweets
May 9
1/ Time to dispel the myths around #Terra / #Luna / #UST once & for all!

Is it decentralized? Is UST a stablecoin? Is it #SAFU?

What are the alternatives???

Are you with me?

Here's the thread you've been waiting for. πŸ‘‡
2/ Before I debunk the most important myths about Terra, I suggest you check my earlier thread on this to understand the context better.

Ready? Let's start with myth number 1. πŸ‘‡

3/ Myth number 1:

🚨 "Terra / Luna / UST is decentralized."

Verdict: FALSE ❌

I can explain, lets's look at the Terra / Luna network first and then UST. πŸ‘‡
Read 21 tweets

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