Wirex has announced a new high-yield tool that claims to generate up to 200% returns, a yield that is pretty extreme – perhaps raising more questions than answers.
According to Wirex, DUO allows its customers to earn the difference in market price from a trading pair over a certain duration, where they’ll be paid out in one of the two currencies plus the yield. Investors may choose the pair of tokens, period of time, and amount locked, and open multiple DUOs at once.
Pavel Matveev, CEO and Co-Founder or Wirex, issued the following statement on Duo:
“It’s great to add another easy-to-use product that brings the benefits of DeFi-style earning into everyday users’ hands. DeFi protocols offer similar ways for users to earn, but are typically extremely lengthy, complex, and expensive for the average person to successfully use. Particularly in this bear market, our customers are looking for straightforward ways to grow their funds and DUO will allow investors of all experience levels to earn high levels of interest.”