Freeway’s cryptocurrency exchange has suspended Supercharger’s high-yield trading and services.Due to unprecedented volatility in the forex and cryptocurrency markets, Freeway pause some services. In a post on October 23rd, the site said it would stop accepting deposits and purchases until the new strategy was implemented.
As you know, there has been an unprecedented volatility in the forex and cryptocurrency markets lately. pic.twitter.com/9aHsWbm1So
— Freeway (@FreewayFi) October 23, 2022
Until then, I plan to “not buy a supercharger simulator”. According to Freeway’s website, the company’s Superchargers product can offer users yields of up to 43% per year.
While this process is underway, Freeway allocates capital to the underlying portfolio. This means temporarily not purchasing the Supercharger simulation until the new strategy is implemented.
— Freeway (@FreewayFi) October 23, 2022
Users can deposit fiat and cryptocurrencies into regulated brokerage accounts, which can be used to generate income. However, the service outage has significantly reduced the value of their cryptocurrency.
Freeway Token – Source: Tradingview
According to Tradingview charts, the price of the token Freeway (FWT) has fallen by more than 75% in the last 24 hours as a result of the announcement.
Freeway is diversifying its holdings
Freeway has announced its intention to diversify its holdings to ensure the long-term viability and profitability of the system. The move was made in response to volatility in the cryptocurrency and forex markets.
Freeway said it would allocate the funds to the underlying portfolio while the proceedings are underway. As a result, the Supercharger will not be redeemed and customers will not be able to cash out.
We’ll let you know when we’re ready to resume partial Supercharger Sim purchases (buybacks). We will also let you know again when we are able to resume purchasing full Supercharger simulations and depositing and purchasing Freeway Tokens (FWT) for our platform.
— Freeway (@FreewayFi) October 23, 2022
After the initial announcement, Freeway said it would not comment further and was not given a deadline to complete the process.
user’s concern
Following other high-profile issues with cryptocurrency companies and exchanges, users have expressed their concerns on social media and the Freeway Telegram channel. The two most pressing issues are whether withdrawals will be processed and whether Freeway will join other well-known cryptocurrency sites.
So far, one of Freeway’s moderators/administrators has advised users to submit support requests and said nothing more can be said until the next official notice is released. .
Moderators said the entire team is working hard with the goal of resuming partial purchases (buybacks) of Supercharger sims and eventually full purchases of Supercharger sims .
43% annual reward with Freeway
Based on a base annual rate of return of 20%, Freeway will: 43% return About investment. Holders can increase their annual rewards by participating in other loyalty incentives, according to a Freeway video.
The first is to encourage users to specify a 30-day notice period before selling Superchargers. This gives the customer his 10% profit. Then you can add 10% by holding a certain number of her Freeway tokens. The remaining 3% is determined by the platform’s “activity score.” This requires signing up for the company newsletter first.
Freeway assured the client that strategies to improve this score were readily available and worth up to 10%.
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