I have been using Celsius to get a return on my Crypto for over a year now.
I have been happy with the way they have handled things and with the way they are open and transparent enough about what they are doing to give a feeling of security without giving away to much security
Cel token mooning
In the last few months, there was a really big price change in the cel token as you can see in the chart below. I remember buying 1 ETH of Cel for 0.25 cents in o6/2019 which gave me around 4000 tokens. That turned out to be a wise investment as it gave me a 5x return. I have since then taken some off the table but this does still guarantee me getting my maximum cel interest even with the new scheme.
Cel token mooning effect on the loyalty program
Today I got an email update from the team saying:
In order to continue scaling at a sustainable rate and keep the Celsius flywheel spinning, our finance experts have made some adjustments to the CEL Loyalty program. Beginning this Monday, October 19, the CEL Loyalty tiers will be changing to the following:
New Cel loyalty program
Old Cel loyalty program
Why is the team doing this?
- The cel token has a fixed supply and every week the accumulated interests are paid out either in kind or with a bonus if you earn in CEL.
- Since there is a fixed supply this means that the Cel that is paid out is just being bought on the market. This, of course, drives up the price since people hold the token to get more interest and the liquid amount is small.
- With this scheme they are forcing an even bigger crunch and price raise to take place as the users want to earn more but then need to buy more CEL to get their bonus.
This also forces some kind of commitment to the token as the minimum is now 5% of your total amount in CEL needed to be entitled to the loan interest discount. Before you just needed 1 CEL to get a 5% loan discount. This has now been moved to a Tier higher, same as the rest of the Bonus interest tiers.
The only thing I do not really like is that I am getting less bonus interest for my Platinum Tier. This is a rough 0.5% less interest for me but I guess the price going up will make up the difference.
The good thing here is that the team is carefully shaping the tokenomics to make everything sensible. Another good thing is that I am not a US citizen and that means I get my payouts in CEL getting the bonus. This is coming for the US but the team wants to make sure everything is legal and above board.
Celsius Launch on Bitfinex
https://twitter.com/bitfinex/status/1316438625131823105?s=20
- bitfinex
Guess what?
With all this news I just got some more CEL...
You just do some research of your own and see if you want to join me.
Join Celsius Network using my referral code 15398955a5 when signing up and earn $20 in BTC with your first transfer of $200 or more! #UnbankYourself