A deep look into Celsius network's design and the events of recent weeks with its yield-generating strategies that culminated in a halt of bitcoin withdrawals.
The purpose of this issue will be twofold:
The first will be an in-depth look at the Celsius platform, and breakdown the design of the business/ecosystem to understand what went wrong.
The second is to detail the events that have transpired over the recent weeks with Celsius “yield generation” strategies, and update subscribers on the state of the market, with potentially big ramifications on the horizon.
The following is written by Bitcoin Magazine’s Namcios, detailing Celsius’s core business operations.
Celsius: Design And Assumptions
This section takes a deep look at the inner workings of the project itself, as per its white paper, (read below) including some red flags in its design and backboning assumptions that could’ve served as a warning to investors – and can hopefully be applied to other projects...