After hearing about them in 2017, I didn’t understood what they had to offer and didn’t step in. Now I was looking to understand the DeFi and CeFi platform for personal interest and find out about SwissBorg app again. If I understand well they offer the same or similar services at BlockFi, Crypto.com, Celsius Network, Abra, Aave, Curve, DefiSaver and some more. They are centralized, it means you loose control of your coins as soon as it reach their wallet, like all centralized exchange.
I did create an account to have a look (and found out 1h later about the referral offer…), didn’t send found yet and not sure if I will and when.
I have already test to get some stablecoin (DAI from MakerDAO) and end up liquidated by a 1h local price drop in a middle of a bear run during my holiday and then I was never able to buy back below or even close to the liquidation price. Then I test liquidity provider in DEX, still didn’t made enough to cover the transactions fees of the process. So I’m cautious.
I’m still learning as much as possible on this business, I cannot believe the sustainability of these 10-20% PA advertised all over the place, even more if the money is invested in DeFi, were you struggle to get any significant gain as an individual but I can guess that with huge volume and automation to do arbritrage between the platforms you can get much better profit, but you are not alone to fight for these profits and in long term if fee are minimized on the user side, profit will be minimal on investor side as well. So I might try with a little but still not convinced to relay on such platform, even decentralized ones, to get a stable long term income, with luck you can profit a little for being still early in the space but then competition will be rough and profit back to be very close to just holding 2-3 of the main cryptocurrencies and waiting for your day of glory.